News Column

US stocks were little changed yesterday, with the S&P 500... [Derived headline]

August 28, 2014

US stocks were little changed yesterday, with the S&P 500 creeping up to another record closing high in a lethargic session, although a number of retail stocks traded heavily after reporting results.

Both Tiffany & Co and apparel retailer Express Inc rose after posting quarterly revenue that topped expectations and raising their full-year profit views. Shares of Tiffany rose 1 per cent to $101.75 while Express jumped 12.7 per cent to $16.45.

Best Buy Co Inc was the S&P 500's biggest percentage gainer, up 6.3 per cent at $31.69. The electronics retailer rebounded from a 6.8 per cent drop the day before.

On the downside, apparel retailer Chico's FAS Inc fell 4.6 per cent to $15.29 after its results.

The Dow Jones industrial average rose 15.31 points, or 0.09 per cent, to 17,122.01. The S&P 500 gained 0.1 point, or 0.01 per cent, to 2,000.12, and the Nasdaq Composite dropped 1.02 points, or 0.02 percent, to 4,569.62.

Analog Devices Inc was one of the S&P 500's biggest decliners, off 2.3 per cent at $51.03 a day after reporting third-quarter results.

Even so, the Nasdaq 100 notched its 11th straight advance, its longest winning streak in about 14 months.

Digital Ally Inc slumped 19.5 per cent to $11.49 on heavy volume, pulling back after a massive rally that had driven the stock's price up more than 200 per cent this month. The wearable camera maker has reported heightened demand since August 9, when a white police officer shot and killed an unarmed black teenager in Ferguson, Missouri, triggering weeks of protests.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Herald, The (Scotland)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters