Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/ap/2013-03-22/retailers-lift-us-stocks-in-early-trading

AP News

Retailers lift US stocks in early trading


NEW YORK (AP) — U.S. stock markets are opening higher after a pair of big retail names reported better-than-expected earnings.

Luxury retailer Tiffany and restaurant owner Darden posted profits that beat Wall Street forecasts on Friday.

The Dow Jones industrial average rose 52 points, or 0.4 percent, to 14,474 shortly after the opening bell.

The Standard & Poor's 500 index was up six points, or 0.4 percent, to 1,552. The Nasdaq composite rose 14 points, also 0.4 percent, to 3,236.

Tiffany's fourth-quarter profit edged up less than 1 percent, but still beat Wall Street predictions as strong customer demand in Asia for its pricey baubles offset weakness in the U.S.

Darden's third-quarter earnings topped expectations, too. Its revenue rose because it opened new restaurants for Yard House, The Capital Grille and Bahama Breeze.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus