This Day On The Street
Continue to site right-arrow
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 Slip Despite Rise in Car Sales, Climb in Factory Orders


NEW YORK (TheStreet) -- U.S. stock markets declined Tuesday after an iffy session a day earlier. While the Dow Jones Industrial Average made the biggest gains Monday, the Nasdaq slipped and the S&P 500 all but flat-lined following an accounting error in ISM manufacturing data for May, a litmus test for broad economic health.

The Dow slipped 0.16% to 16,717.49, while the S&P 500 fell 0.15% to 1,922.16 and the Nasdaq fell 0.3% to 4,226.32.

GM  (GM) said sales in May rose a surprisingly strong 13%, leading to the automaker's best month since August 2008 despite widespread publicity surrounding its 13.6 million U.S. recalls so far this year.

GM shares rose 0.8% to $35.12.

U.S. factory orders rose 0.7% in April, followingd a 1.5% increase in March and a 1.7% gain in February.

European markets slipped and the euro strengthened on the latest consumer price index data which slowed to 0.5% in May, sparking concerns of deflation. The deceleration also gives the European Central Bank room to engage in monetary easing and to edge inflation higher to a target 2% when its meets on Thursday.

In individual stock movements, Hillshire Brands (HSH) was rallying yet again as the tug-of-war over it continues. The food processor was up 9.2% to $58.49 after Pilgrim's Pride (PPC) upped its bid to $55 a share, or $7.7 billion, from $45 a share, or $6.4 billion, offered a week earlier. 

Meanwhile, surf and skate clothing company Quiksilver (ZQK) was being mercilessly pummeled, tanking 37.5% to $3.62, after reporting that quarterly net losses widened to 15 cents a share. Analysts' estimates were for losses of 2 cents a share. Revenue tumbled 10.4% to $408 million. T

Krispy Kreme (KKD) was having a similarly rough time Tuesday, down 14.5% to $16.25, as management lowered full-year EPS guidance to 69 cents to 74 cents a share, below estimates of 76 cents a share.

Keep an eye on FuelCell (FCEL), Mattress Firm Holding (MFRM), and Rentrak (RENT) with the three scheduled to release earnings after the bell.

-- Written by Keris Alison Lahiff in New York.

>>Read More: At the Hands of Apple, Android is as Good as Dead

>>Read More: Broadcom's a Buy Now

>>Read More: Only 10 States Have 'Stable' Housing Markets

Select the service that is right for you!

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 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • 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