Join        Login             Stock Quote

U.S. Stocks Gain On Upbeat Housing, Consumer Sentiment Data; Hot Stocks: (CRM, CLWR, S, DECK, GPS, KCP, CHTP)

 February 24, 2012 04:36 PM

U.S. stocks ended on a positive note following better-than-forecast data on home sales and consumer sentiment. 

S&P 500 Index added 0.17 percent to end at 1,365.74, the highest level since 2008. The Dow Jones Industrial Average held at 12,982.95. The Nasdaq Composite Index closed at 2,963.75, up 0.23 percent. All the three indexes recorded gains for the week.

On the economic front, sales of new homes edged down in the month of January, following four consecutive monthly gains. Yet the numbers came in above economists' expectations. New home sales dropped 0.9 percent at a seasonally adjusted annual rate of 321,000 from upwardly revised level of 324,000 in December. Economists forecasted sales of 315,000 for November.

[Related -Boost Your Dividend Yield]

Meanwhile, the consumer sentiment index advanced to 75.3 in February, according to the Thomson Reuters/University of Michigan consumer sentiment index reading, coming in better than the 73.0 expected by economists.

Hot Stocks Of The Day: (CRM, CLWR, S, DECK, GPS, KCP, CHTP)

Salesforce.com Inc. (NYSE:CRM) climbed 9 percent to $143.64 after the provider of enterprise cloud computing applications posted better-than-expected quarterly results and CRM raised its revenue forecast. Non-GAAP EPS was 43 cents on revenue of $632 million for Q4. Analysts' expected EPS of 40 cents on revenue of $624.03 million. For fiscal 2013, salesforce.com now sees revenue of $2.92 billion to $2.95 billion from prior view between $2.88 billion and $2.92 billion, while analysts expect $2.91 billion. It forecasts EPS of $1.58 to $1.62 for 2013, while analysts' expect $1.62.

[Related -Google Inc (GOOG): Why Nest Labs Deal Is A Wakeup Call For Apple Inc.?]

Clearwire Corp. (NASDAQ:CLWR) dropped 6.8 percent to $2.11 following reports that Google (NASDAQ: GOOG) is selling its entire stake in the wireless broadband services provider at a loss of around $453 million.

Sprint Nextel Corp. (NYSE: S) lost 1.9 percent to $2.47. Cable company Comcast (CMCSA) filed a suit against Sprint alleging infringement of four telecommunications patents. Sprint is a major investor in Clearwire.

Deckers Outdoor Corp. (NASDAQ:DECK) retreated 13.85 percent to $77.72 after the footqare designer issued a weak forecast. For the first quarter, DECK sees EPS to halve year-over-year to about $0.25, while analysts expect $0.63 per share.

Next Page >>12
iOnTheMarket Premium


Comments Closed

rss feed

Latest Stories

article imageSavings Glut and Financial Imbalances

Martin Wolf in today's Financial Times discusses the reasons for low interest rates and suggests some read on...

article imageA Dividend Aristocrat Is Now On Sale

The bear market investors have been dreading is already here for many individual stocks. While the S&P 500 read on...

article imageTwo Picks to Play Defense in a Slowing Economy

Is the economy slowing? Last Thursday the Institute for Supply Management (ISM) reported that its read on...

article imageUS Jobless Claims Fall, Moving Closer To Multi-Decade Low… Again

US jobless claims continue to cast a positive glow on the outlook for the labor market. Today’s weekly read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.