The Census Bureau said Thursday that durable goods orders fell 13.2% in August after three consecutive monthly increases, and was the largest decrease since January 2009. Excluding transportation, orders fell 1.6%.
Economists predicted durable goods would decline 5%; excluding the transportation element, expectations were for a rise of 0.3%.
The Bureau of Economic Analysis said its third estimate on second-quarter gross domestic product came in up 1.3%, down from the prior estimate of 1.7%. Expectations were for an increase of 1.7%.
The National Association of Realtors said that its Pending Home Sales Index declined 2.6% to 99.2 in August from an upwardly revised 101.9 in July. Economists had expected no month-on-month change to occur.
"Overall, a disappointingly soft report that challenges some of the recent strength in the housing market data," commented Ian Lyngen, strategist at CRT.
In corporate news, shares of
Research In Motion
rose 2% in Thursday's regular session ahead of its fiscal second-quarter report. After the close, the stock was up more than 10% after the BlackBerry maker
posted a narrower than anticipated loss
Goodyear Tire & Rubber
(GT - Get Report)
shares jumped 3.9% after Goldman Sachs upgraded the stock to buy.
shares gained 5.8% after the manufacturer and supplier of recreation vehicles and small and mid-size buses posted stronger-than-anticipated fourth-quarter results as the company's recreational vehicle business booked double-digit sales increases.
shares popped 2.3% after
( TPX )
said it will buy its mattress maker competitor for roughly $242 million and assume around $750 million in debt.
Tempur-Pedic shares surged 14.4%.
Discover Financial Services
reported third-quarter earnings of $1.21 a share, beating estimates of $1.03 a share, as demand for its credit cards rose in the United States. Shares rose 7.3%.
shares were off 1.8% after the spice company disappointed on third-quarter revenue.
(DG - Get Report)
shares fell 1.6% after the discount retailer announced a 30 million-share secondary stock offering.
--Written by Andrea Tse in New York.
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