US Indices Continue Winning Streak; Bond Yields Inch Higher (DELL, DKS)
All three major indices in the US made gains on Monday as the Dow Jones Industrial Average once again set another all-time high. The S&P rose for the seventh consecutive day as well. Treasury yields are close to eleven-month highs after rising 1 point to 2.06%. In global market news, China faces climbing inflation rates and Italy's creditworthiness was lowered causing drops in stocks on Monday. Investor Carl Icahn's Icahn Enterprises LP (IEP) has signed a confidentiality pact with Dell (DELL), pushing shares of Dell higher.Dick's Sporting Goods (DKS) dropped about 10% after projecting disappointing profit expectations and shares of Verifone (PAY) climbed after announcing that the company will be looking for a new CEO. Oil futures recovered from earlier losses after the dollar weakened and several demand concerns diminished.
Word on the Street
- Cahn signs confidentiality agreement as the investor continues to object to Dell's (DELL) buyout.
- Dick's Sporting Good Inc. (DKS) sees Q4 earnings rise 15% on better online sales.
- Recent jobs data inspires little confidence in the recovery of the US economy.
- Corn prices back off drought-induced highs and may fall 30% by the year's end.
- Apple (AAPL) climbs ahead of announcement for how it will reallocate some of the company's cash.
- The dollar weakens against most rival currencies as investors question strength of US economy.
- Urban Outfitters (URBN) disappoints in after hours trading with Q4 results.
Published on Mar 11, 2013By InvestorGuide Staff