Market Wrap for Monday, August 19: Down Across The Board, Urban Outfitters Beats On EPS
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.
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%.
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.
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.
There were no major economic releases Monday.
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.
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