This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

US Futures Mixed On Retailer Earnings

NEW YORK (AP) â¿¿ Stock futures were mixed Thursday as a pair of U.S. retail giants posted better-than-expected profits, but revenue that fell just short.

The Labor Department also reported a surge in unemployment benefit applications due largely to the havoc from Superstorm Sandy in Northeast states.

Dow Jones industrial futures fell 3 points to 12,541. The broader S&P futures dipped 2.2 points to 1,350.80. Nasdaq futures have added 5.75 points to 2,535.25.

Before the opening bell Thursday, shares of Wal-Mart fell more than 3 percent. Its expectations for the current quarter fell shy of Wall Street expectations. An investigation into bribery allegations in Mexico also may be expanding to a number of other countries.

In a filing with the U.S. Securities Exchange Commission Thursday, Wal-Mart said that "Inquiries or investigations regarding allegations of potential (U.S. Foreign Corrupt Practices Act) violations have been commenced in a number of foreign markets where we operate, including but not limited to Brazil, China and India."

Superstorm Sandy drove the number of people seeking unemployment benefits up to a seasonally adjusted 439,000 last week, the highest level in 18 months, the Labor Department said.

The storm struck the East Coast on Oct. 29 and left wide swaths of damage from North Carolina to Maine. The storm also cut power to roughly 8 million homes and businesses, and some are still without power.

Retailers in the region were also affected and most closed stores at some point.

Target reported a higher profit for the third quarter, but said that comparable store sales rose 2.9 percent, which was a slower growth rate than last year.

Sears and the Gap post their quarter earnings after the bell Thursday.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,257.54 +199.19 1.24%
S&P 500 1,935.93 +22.08 1.15%
NASDAQ 4,705.7880 +69.6830 1.50%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs