After Market: Dow Edges Up to New Record on Quiet Day; Best Buy Is a Buy

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Investors hit the pause button on the rally Monday, but not before momentum pushed the Dow to yet another record high.

The bond market was closed Monday for Veteran's Day and there were no major economic reports or earnings news to move stocks. Still, the Dow Jones industrial average (^DJI) gained 21 points to 15,783 in quiet trading, ending at its 35th record high this year. The S&P 500 (^GPSC) added about a point to close at 1,772, and the Nasdaq (^IXIC) gained less than a point to close at 3,920.

Shopping in the flat screen television department in a Best Buy electronics store in Midtown Manhattan in New York
Alamy
The retail sector posted solid gains, as stores gear up for the holiday season. Best Buy (BBY) rallied more than 4 percent as the brokerage firm UBS raised its rating on the stock to "buy." Best Buy stock has been the best performer among the S&P 500 companies so far this year -– up 270 percent.

J.C. Penney (JCP) also continued to bounce back, rising 4 percent. Walmart (WMT), Macy's (M), Nordstrom (JWN) and Dollar General (DG) also posted gains.

Online retailers also rose. Priceline (PCLN) gained 2 percent and Amazon (AMZN) edged higher on news of it new deal with the Postal Service to begin Sunday delivery of Amazon Prime purchases in the New York and Los Angeles areas. Sunday deliveries in a handful of other cities will begin next year.

And Twitter (TWTR) is gained 3 percent. Earlier in the day, its shares dipped below 40 dollars a share. They briefly topped 50 shortly after trading began last Thursday.

Tesla (TSLA) bounced back from heavy selling last week, following a disappointing earnings report and another story about a car fire.

Other Big Movers Monday:

ViroPharma (VPHM) surged 25 percent after agreeing to be acquired by the Irish company Shire for 4.2-billion dollars. ViroPharma's key product is a drug to treat a genetic blood disorder.
Cirrus Logic (CRUS) fell 13 percent. A Barclays analyst says Apple is no longer using an amplifier made by Cirrus.
And oil drilling company Transocean (RIG) rose 3 percent after agreeing under pressure to raise its dividend by 34 percent. Activist investor Carl Icahn had been pushing for even more.

-Produced by Drew Trachtenberg.

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26 Comments

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robcabob1

Best Buy? no, no. they say you'll get $150 cash back on a laptop I bought, they gave me a check? Last time I checked, I can't spend a check until I turn it into cash. So how is that Cash back when it's really a check? Cash defined: Oh WOW, it does say Check......

So if a Check is considered Cash (by cashes definition) You can pay by check anywhere declare it cash and the cops could do nothing if you had your handy dictionary to prove it..... Very interesting.... Time for an experiment!

November 12 2013 at 10:38 AM Report abuse -1 rate up rate down Reply
thezeppothezeppo

What about that shlockhouse Sears? No mention of them. How are they doing?

November 12 2013 at 8:07 AM Report abuse rate up rate down Reply
YourFtr

Don't really want to buy a big ticket item from BB;
since they charged me a restocking fee on a returned large TV.
You can buy from others with no re-stocking fee.

November 12 2013 at 1:20 AM Report abuse +3 rate up rate down Reply
3 replies to YourFtr's comment
captpanacea

POTUS gets votes from lies and promoting the stock market

November 12 2013 at 1:09 AM Report abuse -1 rate up rate down Reply
1 reply to captpanacea's comment
dahaub

Votes?? Who in hell are you listening to?

November 12 2013 at 10:26 AM Report abuse +1 rate up rate down Reply
ga7smi

Best Buy won't become a hit

November 11 2013 at 11:03 PM Report abuse rate up rate down Reply
SPQR

My advice is to sell everything you have in the market and put it under the mattress, then buy a farm

November 11 2013 at 10:40 PM Report abuse +4 rate up rate down Reply
1 reply to SPQR's comment
ga7smi

25 years ago I was telling people to stash everything and live like a pauper and get out of the country - too late now

November 11 2013 at 11:02 PM Report abuse +1 rate up rate down Reply
1 reply to ga7smi's comment
proctorfarmer

Why stash? The value of your stash compared to 25 years ago? Maybe THAT is why no one has listened to that advice.

November 12 2013 at 7:47 AM Report abuse rate up rate down
JOE

When i was looking for a blue tooth for my ipod a few months ago i checked best buy and when i balked at the price the salesman checked the online price which was $20 less and said he would let me have it for that price; so i bought it from best buy. They should all take a lesson from best Best Buy.

November 11 2013 at 10:09 PM Report abuse rate up rate down Reply
1 reply to JOE's comment
Tommy

That's nice, but I'm not sure it is corporate policy. Most retailers don't allow employees to make that adjustment (but some do, so always check). I printed a local wally-world online ad and took it into the store. When I pointed out the price difference, they just told me to go home, buy it online, then come and pick it up.

By the way, I have also had the experience of taking a walmart printed local ad into the store and being refused. They said they did not get any message from corporate about a sale, although it was clearly printed in their own ad. I told them, look if this was a KMart or Sears ad, you would clearly honor it, but it is your own store ad. Their answer, Go ahead and go to KMart and buy it. ...so I did.

November 12 2013 at 8:14 AM Report abuse rate up rate down Reply
Jo

Let's see how they all do after the gluttony and impulse buying of the holiday season.

November 11 2013 at 10:03 PM Report abuse rate up rate down Reply
Trish

A lot of you pick on the Post Office, but they do a pretty good job of moving our mail, have been for may years and I'm no spring chicken. They had to cut back just like a lot of other places....and every one complains about them also. But by no means do I want to see the Post Office close it's doors forever. I sent a B card to my daughter and she got it the next day...now that is fast.

November 11 2013 at 9:18 PM Report abuse +3 rate up rate down Reply
1 reply to Trish's comment
proctorfarmer

Of course, I did THEN and still do pick on the Post Office. My oldest brother 45 years ago was about to work for the post office. Guess what? even then, they outsourced most of the people to contractual labor to save money. BTW the Post Office is reactionary not visionary with their business. Case in point. The internet 30 years ago?? They did not give a damn and remained flat while UPS and others embraced and set up shop on line. It helped save their business tremendous amount of money, while the Post Office sat on their fat/dumb ass and did not differently than 250 years prior. NOW, they are on line, and NOW they want to cut services. I only send 2 pieces of mail per month. Grow up and move forward or get the hell out of the way

November 12 2013 at 7:51 AM Report abuse rate up rate down Reply
Trish

If those stores want us to shop in their stores rather than on line, then they need to lower their prices and carry what WE want. I don't want to spend extra high prices on things I know I can buy cheaper--with out the crowds and rudness, and getting over heated with our coats on waiting on line, who needs that??

November 11 2013 at 9:12 PM Report abuse +1 rate up rate down Reply