After Market: Dow, Nasdaq Composite Inch Up, S&P 500 Dips

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Stock market bulls hit the pause button on Tuesday after the recent run of record highs.

The Dow Jones industrial average (^DJI) edged up 2 points to another record high, the Standard & Poor's 500 index (^GPSC) slipped by less than a point, and the Nasdaq composite (^IXIC) added 1 point.

Radio Shack (RSH) tumbled 10 percent after reporting its quarterly loss widened. It also plans to close 200 stores.

Some other retailers posted strong gains. Chico's (CHS) rose 7½ percent on a Financial Times report that the women's fashion chain has held talks to sell itself. Burlington Stores (BURL) gained 5½ percent. It swung to a profit. Pep Boys (PBY) gained 8 percent. Earnings fell short of expectations, but the auto parts chain issued an upbeat sales outlook. Best Buy (BBY) gained 2 percent after boosting its dividend. And Five Below (FIVE) rose 3 percent after naming the head of Walmart.com (WMT) as its new president.

Facebook (FB) also gained, up 4½ percent, on new hire. It brought on the highly respected president of eBay's (EBAY) PayPal unit. EBay fell 2½ percent. By the way, Facebook shares have soared about 170 percent over the past year.

Also in the Internet and social media group, Twitter (TWTR) rose 2½ percent on a Wells Fargo (WFC) upgrade, and LinkedIn (LNKD) gained 4-1/2 percent.

A big deal may be brewing in the beer industry. It's a bit complicated, but follow along. There's talk that Molson Coors (TAP) may be interested in buying MillerCoors. That could depend on whether MillerCoors joint venture partner, SAB Miller (SAB), goes ahead with its planned deal with Anheuser Busch (BUD). On the rumors, Molson Coors is up 5 percent today, SABMiller is up 6 percent and Anheuser Busch is up 3 percent.

Sticking with stuff you drink: Keurig Green Mountain (GMCR) added 1 percent after teaming up with the Subway restaurant chain.

Elsewhere, Achillion Pharmaceuticals (ACHN) rallied for a second straight day, up another 83 percent, after the Food and Drug Administration lifted a hold on its hepatitis C treatment. Achillion shares have soared nearly 190 percent in the past week.

And Receptos (RCPT) soared 37 percent as clinical tests show its multiple sclerosis drug reduces brain lesions.

What to Watch Wednesday:
  • The Treasury Department releases the federal budget for May at 2 p.m. Eastern time.
These major companies are scheduled to release quarterly financial statements:
  • H&R Block (HRB)
  • Restoration Hardware Holdings (RH)
-Produced by Drew Trachtenberg.


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9 Comments

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Philemon Schellenger

I am buying 50,000 tomorrow.

June 10 2014 at 11:00 PM Report abuse -1 rate up rate down Reply
thefacts22

Recession for 7 years,real enemployment,gas prices,bankrupcies,obacare disaster,entitlements,sequestration,more illegals,looming deficits,stagflation,and never ending scandals etc etc....there is no question in my mind,that USA and the dollar will collapse

June 10 2014 at 6:54 PM Report abuse -2 rate up rate down Reply
1 reply to thefacts22's comment
mrsperlosi

You are so right dear, but we liberals walk around with blinders on and wander around in a state of confusion in la la land darling.

June 10 2014 at 9:02 PM Report abuse rate up rate down Reply
elendil3136

Radio Shack is headed down the drain.Good. I'm glad to hear it. I used to run one of their stores back in the '70's. We began to see things going bad not long after old Charles Tandy, the company founder died. In 1978 in our Midwest district, sales tanked as the resession hit. The Home office in Texas couldn't/wouldn't understand that our customer base had been decimated by job loss. The Regional Manager, a pompous scalphunter, turned the screws on his districts, and a dozen of us were fired by the District Manager in an attempt to save his own skin.

June 10 2014 at 6:07 PM Report abuse +2 rate up rate down Reply
1 reply to elendil3136's comment
mrsperlosi

Oh how sad. You are glad that people will be losing their jobs dear? How heartless and mean spirited darling.

June 10 2014 at 9:00 PM Report abuse -2 rate up rate down Reply
Iselin007

I know the gold sellers are desperate to sell gold right now but a few are right about the coming depression.

June 10 2014 at 5:53 PM Report abuse rate up rate down Reply
Iselin007

Pep boys is one of the few remaining auto parts chains that is still around that everybody has grown up with. Radio Shack has so many competitors because retail stores are trying to be all things to all people which is causing a shake out in the retail sector. Sears has to face the same story, competitors desperate to sell anything in a crowded field.

With the job market shrinking along with incomes, some of these retailers won't have enough customers or revenue from sales to keep going.

June 10 2014 at 5:44 PM Report abuse -1 rate up rate down Reply
Iselin007

The stocks have to count on off shore profits the US consumer is tapped out. Few are going to unleash a flood of spending the way the job market has been acting unless of course you counting on visa workers to spend a large part of their income here.

June 10 2014 at 5:30 PM Report abuse +3 rate up rate down Reply
Iselin007

Why not pause you know the drop is going to be breath taking!

June 10 2014 at 5:21 PM Report abuse +1 rate up rate down Reply