Thursday, May 15, 2008

Stocks up on mixed economic data

Stocks rose on mixed economic data. Dow was up 94, advancers ahead of decliners 5-2 & NAZ up a strong 37 helped by the excitement of a fight over Yahoo's (YHOO) future. Dow closed at a sensitive point, 7 below the magic 13K line. After breaking that barrier a few weeks ago, it has not been able to follow thru. In the coming sessions, it will be tested!

After hours, Kohl (KSS) reported down earnings but they beat lowered expectations. Their guidance going forward was cautious, sending the stock down 1.11 in after hours trading. Nordstrom (JWN) reported the same kind of story, up 86¢ in after hours trading. Earnings were down, but beat the lower bar set by analysts. On the positive side CBS will buy CNET (CNET) at a nice premium, CNET rose 3.46.

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