Biggest OTC % Gainers/OTC % Losers /Top OTC Volume Movers 8/21 close:
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After-hours buzz: Gamestop, Gap, Aeropostale & more
Gap- Shares moved higher after the apparel maker beat earnings estimates by a penny and revenue topped expectations, boosted by firm sales at its low-priced Old Navy business. The company also announced that it plans to open stores in India.
Gamestop – The stock rallied after the videogame retailer said its second-quarter revenue jumped to $1.73 billion, up 25 percent from a year ago, lifted by solid Sony Playstation 4 and Microsoft Xbox One sales.
Intuit- Shares tumbled in after-hours trading after the financial solutions software provider posted an unexpected quarterly loss of 1 cent per share, missing Street projections for earnings of 7 cents per share, as it shifts its focus to cloud computing.
Salesforce.com- The software provider posted earnings of 13 cents per share, topping expectations by a penny, while revenue came in at $1.32 billion, versus expectations of $1.29 billion. It also raised its full-year guidance.
Aeropostale – The struggling teen retailer beat earnings and revenue expectations, but it projected a wider-than-expected fiscal fourth-quarter loss, sending shares nearly 10 percent lower in after-hours trading.
Brocade – The networking equipment maker posted fiscal third-quarter earnings of 23 cents per share on $545 million in revenue, surpassing Street expectations of 19 cents per share on $535 million in sales. The stock rose after the bell.
U.S. stocks: S&P 500 ends at record high for 28th time this year; Dow regains 17,000
NEW YORK (MarketWatch) — U.S. stocks advanced Thursday, with the S&P 500 logging its fourth straight daily gain and closing at a record high.
Reports on existing-home sales and manufacturing topped forecasts, and expectations of dovish notes in Friday’s speech from Federal Reserve Chairwoman Janet Yellen also boosted sentiment.
The S&P 500 SPX, +0.30% gained 5.86 points, or 0.3%, to finish at 1,992.37, topping its July 24 all-time closing high of 1,987.98 to set its 28th record close in 2014. During the session, the index hit an intraday record at 1,994.76. Read more: Why a new all-time high doesn’t mean a crash is due
The Dow Jones Industrial Average DJIA, +0.36% rose 60.43 points, or 0.4%, to 17,039.56, as the blue-chip index moved back above 17,000 and held about 0.5% below its July 16 record close. The Nasdaq Composite COMP, +0.12% rose 5.62 points, or 0.1%, to 4,532.10.
Today’s market-moving economic data: An August reading for the Philadelphia Fed index, a manufacturing gauge, came in at 28, besting forecasts for a reading of 18, and a manufacturing gauge from Markit also jumped. Meanwhile, sales of existing homes rose 2.4% in July to 5.15 million, above expectations, and initial weekly jobless claims came in basically in line with forecasts.
Thursday’s encouraging economic reports have provided a lift to U.S. stocks, said Kim Caughey Forrest, a portfolio manager and senior equity analyst at Fort Pitt Capital Group. The good news might have been bad news for the stock market, spurring worries the Fed could pull back sooner from its stimulus efforts, but the central bank has been offering “soothing words,” she told MarketWatch.
““It looks like regardless of how long the Fed hawks are talking, the doves are winning at this point,” Forrest said.
Investors further shrugged off the Fed minutes released Wednesday that showed some officials arguing the groundwork should be laid for raising interest rates sooner than expected. A hike is hardly imminent. http://www.marketwatch.com/story/us-stocks-futures-up-as-fed-china-given-the-brush-off-2014-08-21
Gold skids 1.5% to two-month low settlement
SAN FRANCISCO (MarketWatch) — Gold futures sank 1.5% to a two-month low settlement Thursday as strong economic data fanned fears of tighter monetary policy. December gold GCZ4, -1.51% fell $19.80 for the session to $1,275.40, its lowest settlement since June 18. U.S. jobless claims dropped by 14,000 to 298,000 in the week ended Aug. 16, according to the Labor Department
Old Farmer’s Almanac predicts ‘super-cold’ winter in East
CONCORD, N.H. — The Old Farmer’s Almanac, the familiar, 223-year-old chronicler of climate, folksy advice and fun facts, is predicting a colder winter and warmer summer for much of the nation.
Published Wednesday, the New Hampshire-based almanac predicts a “super-cold” winter in the eastern two-thirds of the country. The West will remain a little bit warmer than normal. http://www.pressherald.com/2014/08/20/old-farmers-almanac-predicts-super-cold-winter/
Existing-home sales rise 2.4% in July
WASHINGTON (MarketWatch) — Sales of existing homes rose 2.4% in July to a seasonally adjusted annual rate of 5.15 million, the fastest pace this year, the National Association of Realtors reported Thursday. Economists polled by MarketWatch had expected the sales rate to decline to 5 million in July from an originally reported 5.04 million in June. On Thursday NAR tweaked June’s sales rate to 5.03 million. July’s sales pace was down 4.3% from a year earlier. The median sales price of used homes hit $222,900 in July, up 4.9% from the year-earlier period. July’s inventory was 2.37 million existing homes for sale, a 5.5-month supply at the current sales pace. The number of homes available for sale was up 5.8% from the year-earlier period.
U.S. manufacturing PMI reaches highest level since April 2010
WASHINGTON (MarketWatch) — The flash Markit manufacturing purchasing managers index jumped to a reading of 58 in August from 55.8 in July to reach the highest level since April 2010. Any reading above 50 indicates expansion. Output and new order components accelerated, and employment rose to the highest level since March 2013. The flash estimate is typically based on approximately 85%-90% of total PMI survey responses each month.
9:20am Starting to accumulate .0009 to .0011 area for bounce and rumored News.
9:18am Looking for entry in GLD Sep 20 ’14 $125 Calls today and after Yellen. Gold getting beat up
Early movers: SHLD, HRL, DLTR, HTZ, F, UPS & more
Gold extends losing streak on strong dollar
LOS ANGELES (MarketWatch) — Gold prices remained under pressure on Thursday after hawkish minutes from the latest Federal Reserve Policy meeting showed that the central bankers were surprised at the speed of the jobs recovery.
At last check, gold for December delivery GCZ4, -1.51% was down another $15, or 1.1%, to $1,280.20 an ounce. September silver SIU4, -0.88% lost 17 cents, or 0.9%, to $19.34 an ounce.
A day earlier, gold prices pushed below the $1,300 level as traders positioned themselves ahead of the Fed minutes and as the S&P inched closer to another record high.
Today’s slate of data is more than just an appetizer leading up to Janet Yellen’s speech on Friday. The first to hit will be the initial weekly unemployment claims report followed by existing home sales and the Philly Fed manufacturing survey at 10:00 a.m. Eastern. http://www.marketwatch.com/story/gold-slips-ahead-of-housing-data-yellen-2014-08-21
U.S. stocks: Futures up after claims; S&P eyes record
NEW YORK (MarketWatch) — U.S. stock futures moved north Thursday, though they trimmed their gains slightly following a report on weekly jobless claims that roughly matched expectations.
Neither downbeat Chinese data nor a perceived hawkish set of Federal Reserve minutes deterred upbeat sentiment. Friday’s speech from Janet Yellen remains a market focus, and the S&P 500 is within spitting distance of setting a fresh record close.
Futures for the S&P 500 SPU4, +0.16% added 3 points, or 0.2%, to 1,986.30, while those for the Dow Jones Industrial Average DJU4, +0.25% rose 34 points, or 0.2%, to 16,984. Futures for the Nasdaq 100 NDU4, +0.14% rose 4 points, or 0.1%, to 4,043.50.
Initial jobless claims fell by 14,000 to 298,000 last week, basically in line with the 300,000 claims expected by economists surveyed by MarketWatch.
Three other economic reports are due at 10 a.m. Eastern, the most closely watched of which may be existing-home sales for July, which economists expect to hold steady. Also out at that time: the Philadelphia Fed manufacturing survey for August and leading indicators for July.
With time to mull it over, investors appeared to further shrug off the Fed minutes released Wednesday that showed some officials arguing the groundwork should be laid for raising interest rates sooner than expected. A Thursday report showing a three-month low for Chinese factory data was also brushed aside. http://www.marketwatch.com/story/us-stocks-futures-up-as-fed-china-given-the-brush-off-2014-08-21?dist=beforebell