Electronics Up on a Flat Day for the Markets
The Dow closed down 6.62 points today, falling to 17,862.14 at the end of the trading day. NASDAQ was up 13.53 points to 4,801.18 and the S&P closed at 2,068.53, down less than a tenth of a point. World markets were nearly all down as well, with Hong Kong's Hang Seng losing 213.08 points to close at 24,315.02.
CafePress Rises After Deal With Circle Graphics The online printing house CafePress (PRSS) saw its share price shoot up over 35% today on news that it was spinning off its large format printing division to the care of privately-held Circle Graphics.
Electronics Sector Has A Strong Day Chip fabricator EZchip Semiconductor (EZCH) saw a continuing increase in its share price, which was up over 10% in the past 5 days. EZchip grew by 0.77 points today, and finished at 21.41. A few different online sources also updated PDF Solutions (PDFS) from hold to buy. The company is currently growing steadily with no debt, and its stock prices are recovering from a dip 6 months ago that investors are optimistic the software company can bounce back from.
Rite Aid Up On Acquisition Of EnvisionRX National pharmacy chain Rite Aid (RAD) made public plans to pick up mail-order drug service EnvisionRx. Rite Aid's stock climbed 6.60% on news of the $2 billion buy-out.
Coca-Cola Down, Pepsico Up After Q4 Earnings Coca-Cola's (KO) poor Q4 earnings report has seen the stock price take a downward turn, while Pepsico's (PEP) on the rise after beating sales expectations. Coke fell slightly today, down just 0.03 points to close the day at 42.37. Coca-Cola (KO) is suffering from a month-long losing trend, and it's looking for ways to increase sales. Pepsico (PEP) on the other hand has beat their profit projections by 6% and seen steady growth in the share price, which grew by 2.14 points today to 100.40.
Pier 1 Loses 25% After Sales Shortfall The housewares importer saw its share price fall 4.13 points to 12.84 on news of softer than average sales during January and February. Pier 1 Importers (PIR) also shifted senior staff, promoting 17-year veteran Laura Coffee to the positions of Executive Vice President and interim CFO after the retirement of current EVP/CFO Charles Turner.
Currency and Commodities The price of a gallon of gas was up to day, finishing normal trading at $2.80. For now, gas is up while crude oil's recovery sputters, but once the cheaper oil is delivered to refiners the price at the pump should start to drop. The price of crude is a good leading indicator of the price of gasoline, and it's something that a few futures trading strategies include as part of a way to deliver consistent profits.