Stocks Mixed; Dow Closes Above 14,000
Most Asian markets were closed Tuesday for the Lunar New Year holiday.
European markets received some support as the G-7 industrially advanced economies pledged against currency wars.
The FTSE in London closed ahead by 0.9% on Tuesday as financial stocks advanced after U.K. bank Barclays (BCS) said Tuesday it would cut at least 3,700 jobs in a major restructuring following a series of scandals. Barclays ADRs were popping more than 8%.
The DAX in Frankfurt finished up 0.3%.The Nikkei in Japan finished ahead by 1.94% amid comments from Economic Minister Akira Amari about yen-weakening measures. Gold for April delivery settled up 50 cents at $1,649.60 an ounce at the Comex division of the New York Mercantile Exchange, while March crude oil futures closed up 48 cents at $97.51 a barrel. The benchmark 10-year Treasury was off 3/32 to boost the yield to 1.979%. The dollar was down 0.40%, according to the U.S. dollar index. In corporate news Tuesday, Netflix (NFLX) was little changed as the company and DreamWorks Animation (DWA) said they will create the first-ever Netflix original series for kids. DreamWorks shares rose 2.9%. Goodyear Tire & Rubber (GT) shares inched down by 0.36% after the company reduced its full-year outlook on segment operating income to $1.4 billion-$1.5 billion from $1.6 billion. Film studio Lions Gate Entertainment (LGF) swung to a profit in its fiscal third quarter as revenue soared on the back of the success of the "Twilight" series finale. Shares dipped 0.6% after rising earlier in the day. Rexnord (RXN) said Monday it initiated a review of strategic alternatives, including a possible sale of the maker of ball bearings and plumbing products. Shares popped 3.9%. Michael Kors (KORS) shares surged 8.8% after the women's apparel company said quarterly results beat estimates amid a substantial increase in same-store sales and the addition of new stores. HCA (HCA) shares fell 0.6% after the hospital operator said that certain stockholders, consisting principally of affiliates of, or funds sponsored by, Bain Capital Partners and Kohlberg Kravis Roberts, plan to offer for sale in a secondary offering about 50 million common shares. Avon (AVP) shares surged 20.3% after the beauty products company booked better-than-expected fourth-quarter earnings. StemCells (STEM) shares soared 21% after the company's spinal cord injury treatment garnered positive results during a clinical trial. -- Written by Andrea Tse and Joe Deaux in New York. >To contact the writer of this article, click here: Andrea Tse.
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