U.S. markets rallied Friday as the May payrolls report increased more than expected, but not enough to sway the Federal Reserve’s decision on monetary tightening. On Friday, the Dow Jones Industrial Average posted a 1.38 gain, while the S&P 500 increased 1.28 percent. The Labor Department reported 175,000 jobs were created in May, topping the consensus forecast of 164,000. “I don’t think this [the nonfarm-payrolls report] is going to push them too far one way or the other. The unemployment rate is still above their target, and other than gasoline prices, we’re not seeing much in the way of inflationary forces that would scare them,” said Bruce McCain, chief investment strategist at Key Private Bank. Here is how some companies in the S&P 500 reacted Friday:
Apollo Group Inc. (NASDAQ:APOL - News) shares traded in the range of $20.32 to $21.32 Friday before settling to close at $21.30, an increase of 5.13 percent. The stock appears to be facing some resistance at $21.54 with some support at $21.00. The company is scheduled to release fiscal 2013 third quarter results after market close on Tuesday, June 25th. Shares of Apollo Group are up approximately 15.6 percent in the past month.
More information on Apollo Group and access to the free equity report can be found at: www.WallStreetFundamentals.com/APOL
GameStop Corp. (NYSE:GME - News) shares traded in the range of $35.54 to $37.47 Friday before settling to close at $36.75, an increase of 6.15 percent. The stock appears to be facing some resistance at $39.76 with some support at $36.62. The company reported global sales totaled $1.87 billion for the first quarter of 2013, a decrease of 6.8 percent when compared the year ago quarter. Shares of GameStop are up approximately 46 percent in 2013.
More information on GameStop and access to the free equity report can be found at: www.WallStreetFundamentals.com/GME
Morgan Stanley (NYSE:MS - News) shares traded in the range of $25.59 to $27.00 Friday before settling to close at $27.00, an increase of 6.26 percent. The stock appears to be facing some resistance at $27.22, with support at $25.27. Macquarie initiated coverage on the company with a “outperform” rating and a price target of $30.00. Shares of Morgan Stanley have gained approximately 41.0 percent in 2013.
More information on Morgan Stanley and access to the free equity report can be found at: www.WallStreetFundamentals.com/MS
Wal-Mart Stores, Inc. (NYSE:WMT - News) shares traded in the range of $76.19 to $76.87 Friday before settling to close at $76.33, an increase of 0.93 percent. The stock appears to be facing resistance at $76.64 with some support at $74.89. The company’s Board of Directors has recently authorized a new $15 billion share repurchase program. Shares of Wal-Mart Stores are up approximately 12.0 percent in 2013.
More information on Wal-Mart Stores and access to the free equity report can be found at: www.WallStreetFundamentals.com/WMT
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