Stocks Finish Mixed as Bernanke Wait Continues
The FTSE in London closed down 0.02% and the DAX in Germany settled lower by 0.64%. The Hong Kong Hang Seng index finished up 0.07% and the Nikkei in Japan closed down 0.57%.
October crude oil futures closed up 86 cents at $96.33 a barrel and December gold futures settled down $5.90 at $1,669.70 an ounce.
The benchmark 10-year Treasury was up 5/32, diluting the yield to 1.639%. The greenback was down 0.37%, according to the dollar index.
On the corporate front, Movado (MOV) shares rose more than 17% after the watch company hiked its full-year earnings outlook as its second-quarter net income increased 83% year-over-year amid a jump in net sales, expansion in gross margin and a more than doubling of operating income.Shares of Lexmark (LXK) advanced nearly 14% after the company said it plans to cut 1,700 jobs globally, including 1,100 manufacturing positions, as part of a restructuring. The actions include eliminating its global inkjet development operations. Drug company DepoMed (DEPO) said it's receiving an upfront payment of $10 million for licensing its Acuform drug delivery technology patents to Johnson & Johnson (JNJ) unit Janssen Pharmaceuticals. The stock was rose close to 3%. Knight Capital (KCG) has selected three new directors, including TD Ameritrade CEO Fred Tomczyk, three weeks after it received a $400 million injection from outside investors. The shares lost 1%. Shares of PVH Corp. (PVH) popped more than 5% after the apparel maker, whose brands include Tommy Hilfiger and Calvin Klein, topped Wall Street's earnings expectations for its fiscal second quarter and gave a strong third-quarter outlook after Monday's closing bell. Seabright Holdings (SBX) shares soared more than 32% as insurance consultancy Enstar Group ( ESGR ) agreed to buy the insurance-holding company for about $249.3 million.
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