After Market: Late Rally Saves Investors from a Down Day

Before you go, we thought you'd like these...
Before you go close icon

Stocks drifted mainly lower throughout the day, but in the last hour of trading Friday, the Dow and the S&P 500 staged a turnaround, and all three major indices ended in the green.

At market close, the Dow Jones industrial average (^DJI) gained 5 points, the Nasdaq composite (^IXIC) picked up 18 points, and the Standard & Poor's 500 index (^GPSC) edged higher by 3 points.

DuPont (DD) was a drag on the Dow though, falling more than 2 percent after lowering its outlook for the second quarter and full year. The chemicals giant reported weakness in its agricultural division and chemicals line.

Dollar General (DG) also dropped falling 4.5 percent after lowering its full-year profit guidance. The company also announced its CEO would retire in May 2015. That could disrupt activist investor Carl Icahn's proposal for Dollar General to merge with Family Dollar Store (FDO), the stock of which lost 1 percent on the day. Both discount retailers have been struggling against competition from Walmart (WMT).

On the upside, GoPro (GPRO), a favorite among sporting enthusiasts, had another stellar day. After rising 30 percent on its first day of trading yesterday, the stock gained another 4.5 percent on Friday.

And Nike (NKE), which is clothing 10 World Cup teams, also had a win on Friday rising almost 1 percent after earnings topped expectations. Revenue grew in all of its main markets.

Another sporting goods company Finish Line (FINL) also impressed on earnings and the stock rose half a percent.

Tripadvisor's (TRIP) price target was raised by Bank of America and the stock rose more than 2 percent.

Keurig Green Mountain (GMCR) also gained more than 4.5 percent on an upgrade from Argus Research.

Intuitive Surgical (ISRG), which makes robotics for surgery, rallied 12.5 percent after it got the green light to market its da Vinci Xi in Europe and other countries that demand CE Marking.

Western Union (WU) gained slightly after announcing it has expanded its scope in Saudi Arabia.

And finally, arts and crafts retailer The Michaels Companies (MIK) started trading on the NASDAQ Friday and but its shares barely budged.

-Produced by Karina Huber.

What to Watch Monday:
  • The Institute For Supply Management-Chicago release its survey of business conditions in the region for June at 9:45 a.m. Eastern time.
  • The National Association of Realtors releases pending home sales index for May at 10 a.m.
  • The Federal Reserve Bank of Dallas releases its manufacturing survey for June at 10:30 a.m.
The 7 Best Things to Buy in July
See Gallery
After Market: Late Rally Saves Investors from a Down Day
It's time to hit the thrift stores, consignment shops and furniture outlets. Now that most people have done their spring cleaning and renovating, their used furniture is on the market. That means a hefty supply, plus low prices since stores only have so much space. You can also find discounted new furniture in July, because the next year's models arrive in stores in early August. Don't be afraid to try to negotiate on prices. It often works.
Electronics -- computers and tablets specifically -- see decreases in price starting in early July. These prices continue to drop as the school year gets closer, and best way to stay on top of the hottest deals is to sign up for e-newsletters from retailers. Remember to take advantage of company and educational discounts that may be available to you, and to negotiate for free or discounted accessories.
Bottled water goes on sale throughout July as a lure to get you into stores. it also gets purchased more frequently throughout the summer -- the natural result of barbecue and picnic season, when people entertain and spend more time outdoors. So if you drink bottled water year-round, stock up now.
If you can manage, hold off purchasing your new grill until after the Fourth of July, when mark-downs approach 50 percent off. This applies to grilling accessories, too, including grill baskets and utensils. Also, check consignment shops and thrift stores. Many people buy new grills for the Fourth of July and donate or sell their old ones.
Speaking of grilling, among the hottest buys during July are condiments for burgers and hot dogs: mustard, ketchup, relish, sour cream, sauerkraut, mayonnaise and pickles, etc. Buy in bulk, and pair in-store specials with coupons for super-low prices on these summer must-haves.
If you're in the market for a sweet new pair of jeans, July is the best time to buy them. Few people buy jeans during one of the hottest months of the year, so retailers put them on sale to move them. Stores also get new jeans in the late summer in anticipation of fall shopping season, so they're eager to sell old ones to make room for new duds.
Formal suits are also seldom purchased during the middle of summer. Consequently, many suit retailers will hold sales to keep business moving. If you have an upcoming formal wedding to attend -- or if you simply need new suits for work and special occasions -- July is the best time to buy.
Read Full Story

People are Reading