Movado Spikes 17% on Earnings as Markets Drift in Midday Trading

The major benchmarks were poised to end the month lower at Tuesday's midday trading.
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The major benchmarks were poised to end the month lower at Tuesday's midday trading. U.S. stocks drifted lower ahead of corporate earnings reports. The market’s slide comes despite a boom in consumer confidence. The Conference Board’s index showed an increase to 101.3 in March as Americans felt the economy will get better over the next six months. Movado (MOV) surged 17% after posting better than expected earnings. The high-end watchmaker is seeing currency headwinds and said it would raise prices to offset the strong dollar. Deals news pushed shares of Charter Communications (CHTR) higher. The company will buy Bright House Networks for $10.4 billion.