Strong earnings from retailers helped break a streak of four consecutive days of losses for U.S. markets. The S&P 500 Index and the Nasdaq posted gains of 0.38 percent and 0.68 percent, while the Dow Jones Industrial Average was down 0.05 percent Tuesday. Upbeat earnings from Best Buy, Home Depot and Urban Outfitters came as welcome sign to investors as lowered sales forecasts from Kohl's, Macy's, Saks and Wal-Mart have escalated concerns that consumer spending may be on the declined. Here is how some retailers reacted Tuesday:
J.C. Penney Company, Inc. (NYSE: JCP) shares traded in the range of $12.81 to $14.39 Tuesday before settling to close at $14.01, an increase of 5.98 percent. The stock appears to be facing some resistance at the $15.29 and $15.85 levels with some support at $13.93. The company reported revenues were $2.66 billion for the second quarter of 2013, a decrease of 11.9 percent year-over-year.
More information on J.C. Penney and access to the free equity report can be found at:
www.WallStreetFundamentals.com/JCP
Kohl's Corporation (NYSE: KSS) shares traded in the range of $51.54 to $52.67 Tuesday before settling to close at $52.22, an increase of 1.28 percent. The stock appears to be facing some resistance at the $52.69 and $53.68 levels with some support at $52.04. Shares of Kohl's have gained approximately 21.0 percent in 2013.
More information on Kohl's and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KSS
Saks Inc. (NYSE: SKS) shares traded in the range of $15.88 to $16.01 Tuesday before settling to close at $15.92 a decrease of 0.31 percent. The stock appears to be facing some resistance at the $16.03 and $16.89 levels with some support at $15.09. The company reported net loss grew to $19.6 million in the second quarter of 2013, from a net loss of $12.3 million a year ago.
More information on Saks and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SKS
Target Corporation (NYSE: TGT) shares traded in the range of $67.95 to $68.62 Tuesday before settling to close at $67.95, a decrease of 0.42 percent. The stock appears to be facing some resistance at the $68.09 and $69.08 levels with some support at $67.70. Shares of Target have gained approximately 15.0 percent in 2013.
More information on Target and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TGT
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