Closing Bell: Pier 1 Surges on Preliminary Sales; U.S. Stocks Mixed

A four-day winning streak came to a close in a session that took on a more undecided tone.
Author:
Publish date:

A four-day winning streak came to a close in a session that took on a more undecided tone. Even a massive oil rally couldn't inspire big gains. Crude oil closed at its best level since January on forecasts U.S. shale output would fall over the next month. Exelon (EXC) and Pepco (POM) were mixed after the companies proposed measures that could appease regulators in opposition of their nearly $7 billion merger. Netflix (NFLX) tumbled after analyst firm ITG said that 2016 domestic streaming estimates appeared overoptimistic. Pier 1 Imports (PIR) rocketed higher on impressive preliminary sales for its fourth quarter. The home retailer expects quarterly revenue to dip 1.3%, far less steep than what analysts had expected.