Top Headline
Express EXPR issued a downbeat earnings forecast for the holiday quarter.
Express reported its Q3 net income of $19.3 million, or $0.23 per share, up from $17.4 million, or $0.20 per share, in the year-ago period. However, analysts expected a profit of $0.25 per share. Its sales climbed 7% to $503 million, while same-store sales gained 5% in the period.
Equities Trading UPShares of G-III Apparel Group GIII got a boost, shooting up 10.65 percent to $64.50 after the company reported upbeat Q3 results and raised its FY14 forecast.
Equities Trading DOWN
Shares of Express EXPR were down 22.82 percent to $19.04 after the company reported downbeat Q3 earnings and issued a weak Q4 earnings forecast.
Sears Holdings SHLD was down, falling 7.90 percent to $51.16 after the company's CEO Edward Lampert cut his stake in the company to 48.4% from 55.4%.
CommoditiesSilver traded up 1.34 percent Wednesday to $19.32, while copper rose 2.02 percent to $3.23.
EurozoneEconomics
The MBA's index of mortgage application activity dropped 12.80% in the week ended November 29.
U.S. trade deficit dropped 5.4% to $40.6 billion in October. However, economists were expecting the deficit to decline to $40.0 billion in the month. The nation's exports increased 1.8% to $192.7 billion, while imports rose 0.4% to $233.3 billion.
Sales of new US homes surged 25.4% to an annual rate of 444,000 in October, versus 354,000 in September. However, economists were expecting sales to total 419,000 in October. Crude supplies declined by 5.6 million barrels for the week ended November 29, the US Energy Information Administration reported. However, analysts were expecting a fall of 1.25 million barrels.
The Fed will release its Beige Book at 2:00 p.m. ET.
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