Dow Drops for Fourth Straight Day
Japan's Nikkei average finished higher by 1.9% as contractors and exporters got a boost from support coming from Japan's main opposition leader, Shinzo Abe, for public spending and more monetary easing. Hong Kong's Hang Seng slid by 1.55%.
Gold for December delivery settled down $16.30 at $1,713.80 an ounce at the Comex division of the New York Mercantile Exchange, while January crude oil contracts lost 97 cents to close at $85.87.
The benchmark 10-year Treasury was up 1/32, diluting the yield to 1.591%. The dollar was down 0.05%, according to the U.S. dollar index.
In corporate news, PetSmart (PETM) shares tacked on 4.1% after the pet supplies retailer hiked its full-year profit forecast after exceeding third-quarter earnings by 12 cents and booking consensus-topping same-store sales numbers.Limited Brands (LTD) shares fell 2.4% after the specialty retailer offer a revised full-year guidance that was below consensus expectations. BP (BP) American Depositary Receipts rose 0.35% after the oil behemoth said Thursday it's in advanced talks with the U.S. Department of Justice and the Securities and Exchange Commission about settling criminal and other claims from the Deepwater Horizon explosion in 2010. Target (TGT) shares rose 1.7% after the retailer reported third-quarter earnings that beat estimates by 12 cents and provided an upbeat outlook on the holiday shopping season. Revenue rose less than expected as sales growth slowed at stores open at least a year. NetApp (NTAP), the maker of storage and data management software, delivered a solid beat in its fiscal second quarter on Wednesday and also provided a robust outlook. Shares surged 11.2%. Viacom (VIAB) shares advanced 2.6% after the entertainment content company beat quarterly earnings estimates by 4 cents a share. Revenue came in a bit below expectations driven partly by a decline in filmed entertainment sales. Diamond Foods (DMND) shares plummeted 21.2% after the company restated its financial results for the 2010 and 2011 fiscal years, following its massive accounting scandal, wiping out $56.5 million in earnings. The company also indicated much weaker profit for the first three quarters of 2012. --Written by Andrea Tse and Joe Deaux in New York.
>To contact the writer of this article, click here: Andrea Tse. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV