Stocks cling to gains as energy rebounds
Stocks (^DJI, ^GSPC, ^IXIC) clinging to gains here as energy rebounds to end the week, and tech’s back in the driver’s seat. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance editor-in-chief Andy Serwer, markets correspondent Myles Udland and Joe Fahmy of Zor Capital.
Winners and losers
Stocks getting hit today include Bed Bath & Beyond as the retailer missed on earnings and reported softness in in-store sales; Morgan Stanley on a negative mention in the Journal claiming the Fed may restrict the bank’s ability to return cash to shareholders; and Blackberry shares sinking after revenue missed, as the once mighty handheld maker reported a drop in its high-margin software and professional services units.
Stocks ending the week on a high note include Finish Line as the athletic retailer projected low-single digit increases in comp store sales; US Steel as Deutsche Bank upgraded shares to Buy with a $30 price target; and Cara Therapeutics shares jumping as the FDA granted breakthrough status for its chronic kidney disease treatment.
Looking ahead
Here’s what will be making headlines:
On Monday morning, we’ll get durable goods orders for May. New orders are expected to drop 0.5% from the prior month.
And we could get more fodder for the health care debate, as the CBO’s cost estimate for Senate health care bill could arrive as early as Monday.
Finally, it’s the 20th anniversary of Harry Potter. The first book was initially published with a print-run of just 500 hardback copies, but has since sold over 450 million copies worldwide. By the way, those first print copies are selling for over $33,000.
