banner

Stocks Mixed as Housing Data Helps and Consumer Confidence Hinders

Dow Jones August 28 2012

U.S. stocks were mired in a tight range Tuesday, getting some support from a better-than-expected report on the U.S. housing market.

The Dow Jones industrial average demurred 21.68 points to 13,102.99.

The S&P 500 index gave back 1.14 points to 1,409.30, but the tech-heavy Nasdaq Composite Index was positive by 3.95 points to 3,077.14.

The Dow and S&P 500 have fallen 6 out of the last 7 days, but the Naz has managed three straight green closes.

Shares of Movado Group (NYSE:MOV, +17.44%) surged more than 17 percent, its biggest gain since December 2010, after the luxury watchmaker reported better-than-expected earnings and raised its forecast for the year. Shares of the New Jersey-based company are up about 95 percent in 2012.

H.J. Heinz Co (NYSE:HNZ, +1.68%) Chief Executive William Johnson said the food company expects to report strong first-quarter results Wednesday, sending the ketchup maker’s shares nearly 3% higher in afternoon trading.

Shares of ALR Technologies (OTCBB:ALRT, +27.27%) rose sharply as the health technology company reported completion of development of its Health-e-Connect chronic disease management system and unveiled a first-in-class universal data upload cable.

Shares of Lexmark (NYSE:LXK, +13.73%), known for making printers, advanced after the company announced it would fully exit the inkjet consumer business, lay off 1,700 workers and focus on its more profitable imaging and software businesses. In the Midwest, the company will be laying-off more than 550 workers in Lexington, KY, including 350 full-time employees, as part of closing its inkjet division. Further, Lexmark also announced an additional $100-million U.S. stock buyback.



Poultry company Sanderson Farms (Nasdaq:SAFM, +8.52%) swung a better-than-expected fiscal third quarter as it benefited from higher prices for its products.

Best Buy (NYSE:BBY, -0.06%) shares rose early, but then faded, a day after the electronic retailer’s announcement that it will give its founder, Richard Schulze, the chance to take a closer look at its financial statements as he finalizes a takeover proposal.

Meanwhile, investors are also keeping tabs on oil prices, which crept, as Hurricane Isaac curtailed oil production along the Gulf of Mexico.

The national average price for a gallon of regular gas continues to increase, hitting $3.76 U.S. Tuesday, according to the American Automobile Association. Experts say that prices could shoot up another 10 cents fairly quickly, depending upon the extent and duration of the refinery shutdowns.

Economically speaking, the S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the United States, surprised with a 6.9 percent gain in the second quarter. Analysts had expected a 0.3% decrease.

The report indicates that the sharp boost in home prices could signal a recovery in the long-suffering U.S. housing market.

However, consumer confidence tumbled in August, marking the worst reading since November. The sharp decline was driven by growing concern about the job market, along with a dour outlook for business conditions over the next six months.

The closely watched index from The Conference Board fell to 60.6 from 65.4 in July. That was worse than the 65.7 expected by economists surveyed by Briefing.com.

The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 1.63% from 1.65% late Monday. Treasury prices and yields move in opposite directions.

Oil prices for September delivery hiked 77 cents to $96.21 U.S. a barrel.

Gold futures for December delivery fell $6.10 to $1,669.50 U.S. an ounce.

ALRT Technologies (ALRT) Stock Quote and News:







Disclaimer: Neither www.otcshowcase.com nor its officers, directors, partners, employees or anyone involved in the publication of the website or newsletters (“us” or “we”) is a registered investment adviser or licensed broker-dealer in any jurisdiction whatsoever. Further, we are not qualified to provide any investment advice and we make no recommendation to purchase or sell any securities. The prior article is published as information only for our readers. otcshowcase.com is a third party publisher of news and research. Our site does not make recommendations, but offers information portals to research news, articles, stock lists and recent research. Nothing on our site should be construed as an offer or solicitation to buy or sell products or securities. This site is sometimes compensated by featured companies, news submissions and online advertising. Viper Enterprises, LLC (parent company of OTC Showcase) has been compensated three thousand dollars for one month of consultation and journalism services and to manage an investor relations/awareness program by ALR Technologies. Viper has completed prior service agreements with ALRT Technologies with full disclosure listed on our disclaimer/disclosure page. Please read and fully understand our entire disclaimer at http://www.otcshowcase.com/about-2/disclaimer.

0 comments

Add your comment

Commenting is allowed only for registered users.

Other articlesgo to homepage

Genesis Completes Acquisitions of ADEX and TNS

Genesis Completes Acquisitions of ADEX and TNS(0)

Utilizing $13 million in proceeds from a MidMarket Capital loan, Genesis Group Holdings, Inc. (OTCBB: GGHO), a holding company operating through its subsidiaries to provide solutions in the telecommunications and mobile industries, reported today that they have completed two acquisitions of revenue generating companies.  The finalized merger will bring Genesis to positive earnings and operational

Growlife to Build Out Cannabis.org, Chart at Double Bottom

Growlife to Build Out Cannabis.org, Chart at Double Bottom(0)

GrowLife, Inc. recently announced plans to develop Cannabis.org as an information portal for the medical marijuana industry. GrowLife, Inc. (OTC: PHOT) (formerly Phototron Holding, Inc.) is a company with core holdings in innovative technology-based products and services for the indoor gardening industry and specialty markets. These brands include Stealth Grow LED producer of hi-powered LED

Cellceutix Cancer Drug Expanding to Three Different Clinical Trials

Cellceutix Cancer Drug Expanding to Three Different Clinical Trials(0)

There is starting to be a steady buzz across the web about Cellceutix Corporation (OTCBB: CTIX) and its novel cancer drug, Kevetrin™.  For starters, the p53-activating drug is on tap to begin dosing patients with solid tumors any day now in clinical trials at the vaunted Harvard University’s Dana-Farber Cancer Institute and partner Beth Israel

Immunovative Quietly Poised to Emerge as Leader in Cancer Vaccines

Immunovative Quietly Poised to Emerge as Leader in Cancer Vaccines(0)

It has long been said that “timing is everything,” but in the case of biotechnology investing, the mantra could not be truer.  There are many different biotech investing styles.  Some traders go after companies with Phase III drug candidates such as Gilead Sciences (NASDAQ: GILD), a company with late-stage drugs that many investors believe will

iMetrik M2M Solutions Heads Towards Full Scale Production and Receives FCC Certification

iMetrik M2M Solutions Heads Towards Full Scale Production and Receives FCC Certification(0)

MarketsandMarkets has released a market research report title, “Machine to Machine (M2M) Market Global Forecast & Analysis” detailing the rapid growth of the emerging field.  According to the report, the total M2M market is expected to reach $85.96 billion by 2017 at a compound annual growth rate (CAGR) of 26.1% from 2012 to 2017. The

read more
banner


Stay Informed

Receive the OTCS Newsletter *




*

* required

Dana-Farber to Host Cellceutix Trials

Cellceutix Corporation (CTIX)
Cellceutix Corporation has filed its Investigational New Drug application with the FDA. Dana-Farber and Beth Israel Deaconess Medical Center will be hosting the clinical trials for Kevetrin, Cellceutix's novel cancer drug. Read more news and get a stock quote.

Diabetes Rate Growing Exponentially

According to the International Diabetes Federation, more than 500 million people will be diagnosed with diabetes in the next two decades, a more than 50 percent increase from today. Technologies are available presently to help manage the frequency, complications and costs associated with diabetes. Read the complete article to learn more.

Contacts and information

Have an opinion or news that you want to share?

Social networks

Most popular categories

Disclaimer/Disclosure
© 2011 Viper Enterprises, LLC. All rights reserved.