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 Under $10 with 50-100% upside potential - 14 days FREE!

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) rose 3.3% and Ross Stores (ROST) 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

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!
DOW 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

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