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U.S. Stocks Approach Highs for the Year

Branded food products company J.M. Smucker (SJM) reported first-quarter results that beat Wall Street expectations as price reductions helped lure customers back in. Shares popped 5.1%.

Athletic apparels company Foot Locker (FL) posted second-quarter net income that increased by 59% and results that exceeded Wall Street expectations, largely thanks to stronger sales, better cost controls and a small tax-related benefit. Shares rose 1.7%.

Teen retailer Gap (GPS) raised its full-year earnings outlook in afterhours trading Thursday. Shares added 4.8% Friday.

Clothing retailer Aeropostale (ARO) gave a softer-than-expected third-quarter earnings guidance for the current quarter after the bell. Shares declined 11.1%.

Ann Taylor (ANN) reported a stronger-than-expected rise in second-quarter earnings as the women's apparel retailer saw sales grow broadly. The company has raised its full-year forecast. Shares finished up 20.4%.

Marvell Technology (MRVL) shares plunged 14.2% after the chipmaker posted weaker-than-expected quarterly results and outlook amid lower PC and smartphone demand and stiff competition in the Chinese market.


-- Written by Andrea Tse in New York.



>To contact the writer of this article, click here: Andrea Tse.

Stock quotes in this article: AAPL, ^DJI, ^GSPC, ^IXIC, ARO, GPS, SJM, FL, MRVL, ANN, CAT 

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