New Home Sales Rose 6.4%; S&P 500 Closed At 1,900

Ahead of the Memorial Day weekend, stocks rose today with the S&P 500, Dow, and Nasdaq making gains. New home sales rebounded in April. Sales reached 433,000 and outperformed an earlier median estimate of just 420,000. In corporate news, GameStop (GME) was up 4% after reporting a profit of 68 million, up from $54.6 million last year. Panasonic (PCRFY) was rumored to push for becoming Tesla's (TSLA) exclusive battery partner in the Gigafactory.
Aeropostale (ARO) was among today's biggest losers with shares sliding down 24%. Investors remain skeptical as first-quarter sales miss expectations and second-quarter loss forecast is bigger than previously expected.

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Published on May 23, 2014
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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