Market Overview

Market Wrap for Monday, August 19: Down Across The Board, Urban Outfitters Beats On EPS

Major Averages

The Dow Jones Industrial Average closed down 0.47 percent to 15,010.74. 

The S&P 500 closed down 0.59 percent at 1,646.06.

The Nasdaq closed down 0.38 percent at 3,589.09.

Top Headline
Saks (NYSE: SKS) reported a wider second-quarter loss. Saks posted a quarterly loss of $19.6 million, or $0.13 per share, versus a year-ago loss of $12.3 million, or $0.08 per share. Excluding one-time items, it lost $0.10 per share.

However, analysts were expecting a loss of $0.08 per share. Its revenue rose 1% to $707.8 million from $704.1 million, versus analysts' estimates of $732.3 million. Its same-store sales increased 1.5%.

Commodities
In commodity news, oil traded down 0.49 percent to $106.93, while gold traded down 0.35 percent to $1,366.20. Silver closed up 0.01 percent Monday to $22.34, while copper fell 0.77 percent to $3.34.

Eurozone
European shares were lower today. The Spanish Ibex Index tumbled 1.97 percent, while Italy's FTSE MIB Index dropped 2.46%. Meanwhile, the German DAX declined 0.29 percent and the French CAC 40 dipped 0.97 percent while U.K. shares fell 0.51 percent.

Economics
There were no major economic releases Monday.

Earnings Reports

Urban Outfitters (NASDAQ: URBN) reported Q2 EPS of $0.51 versus the estimated $0.48, beating by $0.03. EPS were Up 21% from the same quarter last year. Revenue came in at $758.50M versus the estimated $768.76M. Sales were Up 12% year over year.

Bob Evans Farms (NASDAQ: BOBE) reported Q1 EPS of $0.58 versus the estimated $0.58, inline. EPS were Unchanged from the same quarter last year. Revenue came in at $329.40M versus the estimated $335.19M. Sales were Down 20% year over year.

International Rectifier (NYSE: IRF) reported Q4 EPS of $(0.09) versus the estimated $(0.10), beating by $0.01. EPS were Up 55% from the same quarter last year. Revenue came in at $276.50M versus the estimated $260.13M. Sales were Up 3% year over year.

 

Aegean Marine Petroleum Network (NYSE: ANW) reports Q2 EPS of $0.13 versus the estimated $0.17, missing by $0.04. EPS were Down 13% from the same quarter last year. Revenue came in at $1.69B versus the estimated $1.69B. Sales were Down 11% year over year.

Posted-In: Market WrapEarnings News Commodities Economics After-Hours Center Markets Movers Best of Benzinga

 

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