Stocks ended a mini-losing streak on Friday, led by upbeat news from Intel (INTC). The Dow Jones industrial average (^DJI) rose 41 points, after sliding more than 200 over the previous two days. The Nasdaq composite (^IXIC) gained 13 and the Standard & Poor's 500 index (^GPSC) added 6 points.
Those modest gains did little to trim the loss for the week. The major averages posted their biggest weekly declines in more than two months.
Intel is a component of all three big indexes, and it jumped 7 percent after raising its revenue guidance for the current quarter. The company sees stronger business demand for PCs than it previously expected. Intel shares are up 23 percent over the past six months.
The Intel news had a ripple effect. Computer maker Hewlett-Packard (HPQ) rose more than 5 percent and Microsoft (MSFT) gained 1½ percent. Part of the increased demand Intel points to is tied to corporate buyers who need to replace their Windows XP machines, because Microsoft has stopped providing technical support for that platform. But Apple (AAPL) lost more than 1 percent. The stock is down since its 7-for-1 stock split took effect on Monday.
There were two other big stories that had some legs beyond the companies directly involved. Open Table (OPEN) agreed to be acquired by Priceline (PCLN) for $2.6 billion. Open Table, which provides restaurant reservations, jumped 48 percent. Other online service providers rode the coattails of that deal. Yelp (YELP) gained 14 percent and Groupon (GRPN) gained 4 percent.
In the retail arena, Express (EXPR) jumped 21 percent after a private equity firm took a 9.9 percent stake in the teen retailer and indicated it may make a buyout offer.
That gave a boost to Aeropostale (ARO) and American Eagle (AEO), which both rose more than 2 percent. Abercrombie & Fitch (ANF) gained 1½.
Elsewhere, International Game Technology (IGT) gained 10½ percent on a Reuters report that a bidding war could erupt for the maker of slot machines.
Karyopharm Therapeutics (KPTI) soared 80 percent on positive news from a clinical trial on its treatment of multiple myeloma. But OncoMed Pharmaceuticals (OMED) fell 11 percent after halting two drug trials due to adverse events.
What to Watch Monday:
The New York Federal Reserve releases its survey of manufacturing conditions in New York state at 8:30 a.m. Eastern time.
The Federal Reserve releases industrial production for May at 9:15 a.m.
The National Association of Home Builders releases its housing market index for June at 10 a.m.
Korn/Ferry International (KFY) reports quarterly financial results after U.S. markets close.
-Produced by Drew Trachtenberg.
The Best Deals on Father's Day Gifts
After Market: Intel Inside the Indexes Gives Wall Street a Boost
Most of the best tool deals we saw last June were for inexpensive hand tool sets, although we did see excellent prices on saws, storage and combo kits. And the best part is that most of these deals were store markdowns -- some as high as 70 percent off -- so there's no need to worry about whether you've missed a coupon that will yield a better price. Moreover, many items were available at a very affordable price of $10 or less, so you could theoretically put together a package of, say, a shovel, a wrench, a flashlight and a pruner for under $40. Sears, Home Depot, True Value, Amazon, and Ace Hardware all had exceptional offerings.
Electronics were by far the category with the most Editors' Choice deals last June; in fact, 25 percent of the deals in this arena were marked as superb, and they included speaker, headphones, phones and TVs. Bundles including store gift cards were often what made the deal sweet, so be sure to check out sellers like Dell and Newegg -- both known for including credits in their offerings -- if you're seeking a steal on a gadget for dad.
June is the biggest month of the barbecuing season when it comes to the number of grill deals. Last year, we saw 75 deals related to grills in June. That's second only to May, when we saw 76. Unfortunately, June isn't the best month to get the lowest price (that comes later in the season), but there are still plenty of discounts, so you definitely shouldn't be paying retail. In fact, we saw deals that slashed up to 50 percent off around this time last year. So while some of the Editor's Choice level deals were on accessories -- such as grill pans and recipe books -- there should be no shortage of options if you're looking to pick up a grill for dad's special day.
Last June, we saw more than 100 deals related to the sports and fitness category, with Editors' Choice prices on everything from sports equipment to apparel and decor. Camping equipment, athletic shoes, and exercise accoutrements were some of the most frequently discounted items, making them good Father's Day gifts to seek out. Whether dad likes playing outdoors, getting fit in the comfort of his air conditioned home, or looking at a giant photo of his favorite quarterback on his office wall, you should be able to get a deal on something right up his alley. This sport and fitness guides has more gift ideas.)
A tie may be the stereotypical lazy/unwanted Father's Day gift, but there's something to be said for keeping dad in fashion. And with more than 1,700 clothing and accessory deals listed last June, odds are that you'll be able to find something that suits dad's fancy. We saw all-time low prices on shoes, jackets, sunglasses and pants, as well as strong general sales from merchants as varied as adidas, Puma, Macy's, Allen Edmonds, Express and American Eagle. Year-round items like activewear made up a big chunk of the Editors' Choice deals, but some were decidedly non-summery, like dress pants. With discounts as high as 92 percent off, though, there's no reason to limit yourself to seasonal buys.
So what'll it be? A drill? A sports coat? An upgraded tablet? Whatever you choose, dad will probably love it. And now that you know what to look for, you can be proud of your deal-hunting skills.