Markets Rocket, Unemployment Sinks, Retailers Strong
Waves of positive news swept stocks higher today. Sinking unemployment and positive words from Cisco Systems fueled the broad based rally. Additional optimistic data of retailers reporting gains for the second month in a row added fuel to the raging bull market today. The DJIA breaks 10,000 adding +203.82 to 10005.96, the Nasdaq +49.80 to 2105.32, and the broad based S&P 500 advanced +20.13 to 1066.63.
Children’s Place Retail Stores
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PowerRating): Added 7.41% or $2.40 to $34.80/share after stating 3rd quarter earnings will beat estimates.
CVS Caremark
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PowerRating): The drug store chain is being investigated by the Federal Trade Commission and has lost substantial pharmacy management contracts sending shares lower by 20.14% or $7.30 to $28.85.
Whole Foods
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PowerRating): Missed analysts estimates by 1 cent triggering shares to sell sharply 15.38% or $4.93 to $27.13.
Gibraltar Industries
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PowerRating): Soared 23.53% or $2.68 to $14.07/share after its earnings beat estimates.
Gold added $2.20 to $1090.80, oil gave back 78 cents to $79.85 and the VIX fear index fell another 8.12% to 25.47 as fear slowly dissipates from the marketplace.
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