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.
Word on the Street
Published on May 23, 2014By InvestorGuide Staff