After Market: Another Record, and a Surprising Tech Winner

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The Standard & Poor's 500 index hit another record high Thursday -- its 21st this year, but overall stocks were mixed. The Dow Jones industrial average (^DJI) and the S&P 500 (^GPSC) closed the day in the green column -- up 14 points and 2 points respectively -- while the tech-heavy Nasdaq composite (^IXIC) edged down 3 points to end in the red by less than 0.1 percent. But the most interesting gainer was a tech company: BlackBerry (yes, BlackBerry) is making a bit of a comeback.

The maker of formerly ubiquitous smartphones rallied for its second day in a row, this time up almost 10 percent after reporting earnings that topped expectations. Over the past 3 days, BlackBerry (BBRY) stock is up 14 percent. That's a nice return for a company many had written off.

Other companies with winning earnings include supermarket chain Kroger (KR). It posted better profits than expected and the stock popped 5 percent.

Software maker Red Hat (RHT) also had a red-hot day with its stock rising more than 3.5 percent, after reporting revenue and profits that beat the street.

On the losing side of earnings: Pier1 (PIR) was down 13 percent. Its profits disappointed and it lowered its guidance. Rite Aid's (RAD) earnings fell, as did its stock, which was down 3.5 percent.

And Coach (COH) announced it would be shutting 70 stores in North America, and said it expects its revenue to drop in its next fiscal year, which starts in a few weeks. The stock declined for the second day in a row, falling almost 9 percent on Thursday. It also got a downgrade from Barclay's. The maker of luxury handbags will not remember 2014 fondly. The stock is down 36 percent since the beginning of the year.

Green Mountain Keurig (GMCR) also sold off, dipping 3.5 percent on a neutral rating from BTIG Research.

But Starbucks (SBUX) was up more than 2 percent on an upgrade from UBS.

And on its first day of trading Markit (MRKT) rallied 11 percent. The company provides market information to hedge funds, banks and other big investors.

American Apparel (APP) was another stock to watch. Its board voted founder, CEO and Chairman Dov Charney out of the company. Charney has faced numerous sexual harassment lawsuits over the years. The stock was up more than 6.5 percent -- but don't get too excited, it doesn't add up to much.
American Apparel has been a penny stock since 2009.

And finally, Celgene (CELG) rose more than 4.5 percent after the company announced a two-for-one stock split and an increase in the number of common shares.

What to Watch Friday:
  • Quadruple witching trading day: Individual stock options, stock futures, stock indexes and stock index futures are all set to expire.
These major companies are scheduled to release quarterly financial statements:
  • CarMax (KMX)
  • Darden Restaurants (DRI)
-Produced by Karina Huber.


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Iselin007

If you havent noticed your not bombarded with ads from Online Jobsites. Reports are there are over 4 million job openings but there are no qualified applicants to fill them. We know all this is just BS don't we?

June 20 2014 at 1:14 AM Report abuse +1 rate up rate down Reply
Iselin007

I think they need to add a surcharge on to businesses whose employees depend in public assistance because their employer is a cheapskate.

June 19 2014 at 8:22 PM Report abuse +2 rate up rate down Reply
Iselin007

Coach is shutting 70 stores in North America? They could not even mention the United States by name?

June 19 2014 at 8:04 PM Report abuse +2 rate up rate down Reply
Hubert Abel

How can this happen when we have a Socialist president? Somebody ask Rush and Glenn.

June 19 2014 at 6:40 PM Report abuse +2 rate up rate down Reply
1 reply to Hubert Abel's comment
Iselin007

You think this is great? There are over 92 million people not in the labor force and 9 plus million unemployed. Some 40 million students in debt and even crap jobs in short supply.

June 19 2014 at 8:09 PM Report abuse +1 rate up rate down Reply