US stock benchmark indexes are slightly declining as of 14:40 London time. Standard & Poors 500 index is offsetting opening raise with a dip of 0.28%. Dow Jones Industrial and Nasdaq Composite are behaving in a similar way. The sharp fluctuation above and under the zero line was triggered by US data on retail sales, initial jobless claims and import price index, issued about an hour earlier. The first two beat estimates while the last one is showing disappointing numbers.
In corporate news, Belo media company is being bought by Gannett for about $1.5 billion. Belos stocks surged by 27.35% due to the acquisition. H&R Block, a tax preparation company reported profit of 0.19 cents lower than estimates, their revenue also fell. Their shares dipped 3.07%. PVH, the clothing manufacturer showed earnings well above estimates. Company gained from increased sales for its Tommy Hilfiger and Calvin Klein brands. Company is up almost 9% today.
Apple stock surged in first minutes of trade due to the new bigger screen models company is issuing on market this fall.
Blackberry was upgraded from rating of “sell” to a rating of “buy” by Societe Generale due to companys better than expected sale of handsets.
Safeway, the grocer retail chains sold its Canadian operating unit to Sobeys for $5.7 billion. The money would be used by the company for paying debt and buyback of stocks. Safeway stock is up 11.64% since open and almost 26% year to date.
Clearwire — the communications giant is considering an acquisition offer from Dish Network, switching from its earlier support for a takeover by majority shareholder Sprint Nextel .
The pulp and paper company called International Paper was upgraded from “neutral” rating to “buy” and added to Goldman Sachs list of proposed buys. Companys share price is up 1%.
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