This Day On The Street
Continue to site
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

Stocks Thumped by Fed's Disclosure on Stimulus

The benchmark 10-year Treasury plummeted 19/32 to raise the yield to 1.906%. The dollar jumped 0.73%, according to the U.S. dollar index.

In corporate news, December same-store sales from retailers were mixed as consumers stayed cautious during the key holiday shopping season due to economic uncertainties.

TJX (TJX - Get Report) rose 3.3% and Ross Stores (ROST - Get Report) jumped 8% after their December sales beat expectations. Limited Brands (LTD) was off 5.7% after the specialty retailer posted weaker-than-expected sales.

Costco Wholesale (COST) reported a December same-store sales increase of 9%, beating the consensus estimate of 6.5%. Shares rose 1%.

Meanwhile, Family Dollar Stores (FDO) reported fiscal first-quarter earnings of 69 cents a share, missing the average analyst estimate of 75 cents. Revenue was in line with forecasts amid what the company said was a challenging holiday shopping season. Shares tumbled 13%.

Hormel Foods (HRL) said it was buying Unilever's (UL) Skippy peanut butter business for about $700 million.

Hormel shares popped 3.7%, and Unilever American Depositary Receipts slipped 0.82%.

Mellanox Technologies (MLNX) on Wednesday reduced its revenue forecast for the fourth quarter. The data-storage company said it expects fourth-quarter revenue in a range of $119 million to $121 million, down from previous guidance of $145 million to $150 million. Shares sank 17.1%.

Quiksilver (ZQK) co-founder Robert McKnight Jr. reportedly will step down from his CEO post, effective Jan. 11. He has been with the surfing outfitter since 1991.

Former Walt Disney executive Andy Mooney will take over as CEO, according to The Wall Street Journal. Shares tacked on 3.4%.

Biogen Idec (BIIB) shares tumbled 1.4% after the biotech company said its experimental ALS drug failed to meet its primary endpoint and that it will discontinue development of the treatment.

Buffalo Wild Wings (BWLD) shares were up 3.8% as Steven Cohen's SAC Capital disclosed a 5% stake in the company.

-- Written by Andrea Tse and Joe Deaux in New York.

>To contact the writer of this article, click here: Andrea Tse.
2 of 2

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
LTD $0.00 0.00%
ROST $56.83 -1.40%
TJX $76.32 -0.90%
AAPL $93.06 -0.60%
FB $118.18 0.10%


Chart of I:DJI
DOW 17,699.78 +48.52 0.27%
S&P 500 2,055.71 +4.59 0.22%
NASDAQ 4,728.2490 +2.61 0.06%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs