Stocks Finish Mixed as Bonds Slump
In corporate news Wednesday, Target (TGT) shares rose 1.8% after the retailer raised its full-year guidance.
JDS Uniphase (JDSU) shares surged more than 8% after the optical networker reported fiscal fourth-quarter non-GAAP earnings of $35.3 million, or 15 cents a share on revenue of $439.3 million. Analysts forecast a profit of 12 cents a share in the June-ended period on revenue of $422.6 million.
Shares of Staples (SPLS) fell 15% after the office products company posted worse than expected quarterly results on soft demand in North America, Europe and Australia. The company has slashed its full-year earnings and sales projections.
Starbucks (SBUX) shares gained 3.6% after Credit Suisse added the coffee company's shares to its U.S. focus list, saying it sees the stock as a compelling long-term growth story.Deere (DE) shares tumbled 6.3% after the manufacturer reported quarterly net income substantially missed analysts' estimates as it felt the pressures of a cooling world economy and the protracted U.S. drought. The New York Times Co. (NYT) named Mark Thompson as its next president and CEO. Thompson most recently served as director general of the British Broadcasting Corp. Shares rose 1.4%.
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