This Day On The Street
Continue to site right-arrow
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Market Preview: Hurry Up and Agree

Stocks in this article: BKSDISAROSPY^GSPC^DJI^IXIC

NEW YORK ( TheStreet) -- Judging by Wednesday's 200-point plus turnaround in the Dow Jones Industrial Average, investors are buying into the idea that Democrats and Republicans will be able to come together this holiday season and stop short of the fiscal cliff.

That's especially good news for the economy because a speedy resolution will go a long ways toward getting small businesses back in the spending mood. Deutsche Bank pointed out that how important that is for the economy in a note to clients Wednesday.

"There is ample evidence that the fiscal cliff is already having a meaningful impact on business sentiment, especially small businesses which account for nearly 75% of hiring in the US," the firm said. "In the latest NFIB survey, 39% of small businesses indicated that government regulations and taxes were their number one concern, eclipsing 'poor sales' which has been their main issue for most of the past four years."

As for Thursday's scheduled news, Barnes & Noble (BKS) is slated to report its third-quarter results before the opening bell, and the average estimate of analysts polled by Thomson Reuters is for a loss of 11 cents a share on revenue of $1.91 billion.

Shares of the New York-based book seller, which completed its Nook digital reader partnership with Microsoft (MSFT) in early October, are up roughly 11% so far in 2012, but based on Wednesday's closing price of $16.05, the stock remains well below its 52-week high of $26 on April 30.

The sell side is bearish with five of the seven analysts covering the stock at either hold (4) or underperform (1), and the 12-month median price target of $17 implying limited upside from current levels.

Other companies due to report early Thursday include Cracker Barrel Old Country Store (CBRL), Frontline Ltd. (FRO), Gildan Activewear (GIL), Isle of Capri Casinos (ISLE), Kroger (KR), LTX-Credence Corp. (LTXC), and Tiffany & Co. (TIF).

The late roster features Aeropostale (ARO), Christopher & Banks (CBK), Five Below (FIVE), Mentor Graphics (MENT), Omnivision Technologies (OVTI), Pacific Sunwear of California (PSUN), Splunk (SPLK), Ulta Salon (ULTA), Youku (YOKU), and Zumiez (ZUMZ).

Thursday's economic calendar includes weekly initial and continuing jobless claims at 8:30 a.m. ET; the second estimate of third-quarter gross domestic product at 8:30 a.m. ET; and pending home sales for October at 10:30 a.m. ET.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs