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TheStreet Open House

Futures Tick Higher After Latest US Growth Numbers

Kinahan said the market's apparent lack of direction makes sense, especially ahead of the Labor Day weekend and a highly anticipated speech by Federal Reserve Chairman Ben Bernanke on Friday.

"There's no incentive to take a big trading position," he said. "Many people I know plan on taking a three-day weekend or are just coming in for the speech to see if (Bernanke) says anything interesting or market-moving. If not, they're outta there."

Among companies making news:

â¿¿ WellPoint, the second-largest health insurance company in the United States, jumped $4.41, or 8 percent, to $61.80 after its CEO resigned. Investors had been frustrated with Angela Braly because of disappointing results.

â¿¿ H.J. Heinz posted a 14 percent jump in quarterly net income, driven by higher prices and emerging-market sales, but revenue fell and missed Wall Street expectations. Heinz stock dropped $1.29, or 2 percent, to $56.12.

â¿¿ The clothing store chain Jos. A. Bank posted stronger sales and revenue than Wall Street expected, and its stock soared $5.81, or 14 percent, to $47.44.

â¿¿ Sealed Air Corp., a food packaging company, jumped 12 percent, the S&P 500's biggest gain. A former Dow Chemical executive will take over when its current CEO retires. The company's stock gained $1.58 to $14.58.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

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