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Weekly Market Wrap: November 22, 2013 Friday, November 22, 3:13 PM ET This forty-seventh trading week of 2013 comes to a close with investors wondering if weak third quarter earnings from the retail sector could translate into a weak holiday season.
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for November 22, 2013.
The Dow Jones Industrial Average is trading higher this week, while the Nasdaq and S&P 500 are trading close to even.
Crude oil futures are higher this week, trading below $95.00 per barrel on Friday afternoon.
And Gold futures are lower this week, trading around $1,244 an ounce in Friday afternoon trading.
In corporate news, Abercrombie & Fitch (ANF) reported a third quarter loss of $15.6 million, or 20 cents per share, as revenue slid to $1.03 billion. Excluding one-time items, the clothing retailer would have earned 52 cents per share, topping the consensus estimates.
Target (TGT) reported third quarter earnings of $341 million, or 54 cents per share, as revenue climbed to $17.26 billion. Excluding one-time items, the company would have earned 84 cents per share, topping Wall Street earnings estimates, but falling just shy of the consensus sales numbers.
Sears (SHLD) reported a third quarter loss of $534 million, or $5.03 per share, as revenue dropped to $8.27 billion. The company said sales at stores open at least a year fell by 3.1% and noted that higher payroll taxes may be impacting its customers' budgets.
Foot Locker (FL) reported third quarter earnings of $104 million, or 70 cents per share, as revenue climbed to $1.62 billion. Excluding one-time items, the company would have earned 68 cents per share, topping Wall Street estimates.
This is the 'Weekly Market Wrap' for Friday November 22, 2013. Please join us on Monday for the Week Ahead Market Report.
For MarketNewsVideo.com, I'm Sayoko Murase. | |
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