Market Overview

Mid-Day Market Update: Campbell Soup Tumbles On Downbeat Earnings; Brocade Shares Spike Higher

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Midway through trading Tuesday, the Dow traded up 0.17 percent to 16,003.46 while the NASDAQ surged 0.11 percent to 3,953.41. The S&P also rose, gaining 0.11 percent to 1,793.53.

Top Headline
Home Depot (NYSE: HD) reported a 43% gain in its fiscal third-quarter profit and lifted its forecast for the year.

Home Depot now expects full-year earnings of $3.72 per share on sales growth of 5.6%. The company had earlier expected earnings of $3.60 per share on sales growth of 4.5%.

Home Depot's quarterly profit surged to $1.35 billion, or $0.95 per share, from a year-ago profit of $947 million, or $0.63 per share. Its sales increased 7.4% to $19.47 billion. However, analysts were expecting earnings of $0.90 per share on revenue of $19.18 billion. Home Depot's same-store sales climbed 7.4% in the quarter.

Equities Trading UP
Qiwi plc (NASDAQ: QIWI) shot up 5.02 percent to $44.15 on Q3 results.

Shares of Brocade Communications Systems (NASDAQ: BRCD) got a boost, shooting up 8.40 percent to $8.77 after the company reported a better-than-expected Q4 profit.

Trina Solar (NYSE: TSL) was also up, gaining 2.47 percent to $16.59 after the company posted a profit in the third quarter and lifted its full-year shipment outlook.

Equities Trading DOWN
Shares of Oiltanking Partners LP (NYSE: OILT) were down 7.23 percent to $59.79 after the company priced an offering of 2.6 million common units.

Best Buy Co (NYSE: BBY) shares tumbled 8.67 percent to $39.78 after the company swung to a profit in the fiscal third-quarter profit.

Campbell Soup Company (NYSE: CPB) was down, falling 5.88 percent to $39.35 after reported a 30% drop in its fiscal first-quarter earnings and lowered its forecast for the year.

Commodities
In commodity news, oil traded down 0.10 percent to $92.94, while gold traded up 0.13 percent to $1,273.90.

Silver traded down 0.18 percent Tuesday to $20.32, while copper rose 0.21 percent to $3.17.

Eurozone
European shares were lower today. The Spanish Ibex Index fell 1.57 percent, while Italy's FTSE MIB Index tumbled 1.77 percent. Meanwhile, the German DAX fell 0.35 percent and the French CAC 40 dropped 1.12 percent while U.K. shares declined 0.38 percent.

Economics
US employment cost index rose 0.4% in the third quarter, versus a 0.5% growth in the second quarter. However, economists were expecting a 0.5% growth.

The ICSC-Goldman Sachs store sales index rose 0.1% in the week ending Saturday versus previous week.

The Johnson Redbook Retail Sales Index declined 0.7% in the first two weeks of November versus October.

Posted-In: Earnings News Guidance Eurozone Commodities Forex Global Econ #s

 

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