End-of-Day Market Summary for December 7, 2011
This is your Benzinga news summary and traders' summary for Wednesday, December 7, 2011, covering headlines from Wednesday's trading session.
Today at market close, the Dow Jones Index traded up about 46.24 points or 0.38%, the S&P 500 traded 0.2% higher, the Nasdaq Composite Index traded down 0.01%, and the U.S. dollar trades slightly lower near the $78.50 level.
Overseas, European markets ended their trading session lower. Britain's FTSE 100 lost 0.39%, Germany's DAX decreased by 0.57% and France's CAC 40 slid by 0.11% on the session. Asian stocks ended their session higher, however. China's Shanghai Index rallied by 0.38%, Japan's Nikkei 225 increased by 1.71%, and the Hang Seng index gained 1.58%.
On the economic calendar, MBA Mortgage Applications came in at 12.8% versus a previous number of -11.7%; Consumer Credit came in at $7.645 billion versus an estimate of %7 billion. On the commodity front, gold and silver futures traded mixed today, with gold trading about 0.04% higher today. Energy futures are lower, however, with crude oil down over 0.7% near the $100.50 level and gasoline futures are trading higher by about 2.1%. Natural Gas futures are lower by about 1.7% and copper futures are trading over 0.07% lower.
On the earnings front today, G-III Apparel Group (NASDAQ: GIII) Reports Q3 EPS $2.16 vs $2.14 Est; Revenues $510.00M vs $497.49M Est; Verint Systems (NASDAQ: VRNT) Reports Q3 EPS $0.59 vs $0.61 Est; Revenues $204.60M vs $199.00M Est.
Stryker (NYSE: SYK) announced that it will be repurchasing $500 million in shares and will be increasing its common stock dividend by 18% to $0.2125 per share.
Extra Space Storage (NYSE: EXR) announced that executive management team will be restructuring and assuming different positions.
Today's Movers include:
Men's Wearhouse (NYSE: MW) +20.2% on good earnings but poor guidance estimates
Powell Industries (NASDAQ: POWL) +17.8% despite missing Q4 earnings estimates
Great Basin Gold (NYSE: GBG) +18.8% on heavy volume
Frontline (NYSE: FRO) -12.4% after being downgraded by various Wall Street Analysts
Vina Concha y Toro (NYSE: VCO) -9.4% on heavy volume
Jaguar Mining (NYSE: JAG) -9.3% after CEO suddenly left company
This concludes your news summary for December 7, 2011.
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