Stocks Finish Mixed; HP Weighs on Dow
Japan's Nikkei average settled down 0.12% on Tuesday and Hong Kong's Hang Seng index closed down 0.16%.
Gold for December delivery slumped $10.80 to settle at $1,723.60 an ounce at the Comex division of the New York Mercantile Exchange, while January crude oil contracts finished down $2.53 at $86.75.
The benchmark 10-year Treasury fell 16/32, boosting the yield to 1.671%. The dollar was down 0.16%, according to the
In corporate news, Best Buy (BBY) posted a third-quarter loss amid persistent sales weakness and charges tied to its restructuring plans. The stock fell 13%.Krispy Kreme Doughnuts (KKD) shares surged 1.8% after the company booked stronger earnings amid more robust same-store sales numbers. Sunshine Heart (SSH) shares gained 1.5% after the medical device maker was given unconditional approval to start a key trial for its implantable heart device by the U.S. Food and Drug Administration. Campbell Soup (CPB) posted better-than-expected first-quarter earnings of 88 cents a share, compared with the average analyst estimate of 85 cents a share, as the company generated sales growth both in its U.S. soup and sauces businesses, driven by new product introductions. The stock dipped 2%. Ketchup maker H.J. Heinz (HNZ) booked better-than-predicted fiscal second-quarter earnings as the company spoke of "dynamic growth" in the emerging markets and a favorable tax rate. Shares declined 2.2%. Credit Suisse (CS) said Tuesday it was overhauling its investment banking division and merging its private banking and wealth management arms to cut costs and satisfy regulators. The bank's American Depositary Receipts fell 1.4%. Shares of Groupon (GRPN) jumped 8.5% after hedge fund Tiger Global Management disclosed a stake of 65 million of the online deals company's class A shares. -- Written by Andrea Tse and Joe Deaux in New York.
>To contact the writer of this article, click here: Andrea Tse. Follow @Commodity_Bull
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