Ultimate Market Recap: Markets Splatter on Euro Fears, Sears Holdings Earnings, Angie’s List IPO

Thursday Morning Hot Stocks

Shares of NetApp Inc. (NASDAQ:NTAP) are down more than 10% early Thursday.  The company reported second quarter results late Wednesday.  Earnings fell short of the mean analyst estimate of 49 cents per share. It also fell short of the average revenue estimate of $1.53 billion.

Investing Insights: NetApp Inc. Earnings Cheat Sheet: Reports Loss in Profit.

Activision Blizzard Inc. (NASDAQ:ATVI) is receiving attention after announcing that is sold more than $775 million worth of its latest and greatest Call of Duty: Modern Warfare 3 video game.  Competitors include: Electronic Arts (NASDAQ:ERTS) and Take-Two (NASDAQ:TTWO).

GameStop (NYSE:GME) popped more than 2% after reporting third quarter results on Thursday.  Net income for the electronics store fell to $53.9 million (39 cents per share), compared to $54.7 million (36 cents per share) a year earlier. This is a decline of 1.5% from the year earlier quarter.

Don’t Miss: GameStop Corp. Earnings Cheat Sheet: Net Income Keeps Falling.

Ross Stores Inc. (NASDAQ:ROST) is edging down after report third quarter results and a 2-for-1 stock split.  Net income for Ross Stores Inc. rose to $144 million ($1.26 per share) vs. $121.4 million ($1.02 per share) in the same quarter a year earlier. This marks a rise of 18.6% from the year earlier quarter.

Investing Insights: Ross Stores Inc. Earnings Cheat Sheet: Company Enjoys Fifth Straight Quarter of Double-Digit Growth.

Mosaic (NYSE:MOS) is up over 2.5% after saying it will buy back 21.3 million shares at a price of $54.58.  “This repurchase completes, well ahead of schedule, the disposition of 157 million shares designated to be sold during the 15-month period following the May 25, 2011 split-off transaction with Cargill,” the company said.

Sears Holdings Inc. (NASDAQ:SHLD) is down 8% after reporting a wider fiscal third quarter loss.  The loss widened to $421 million ($3.95 per diluted share), compared to $218 million (loss of $1.98 per share) in the same quarter a year earlier.  Competitors include: Wal-Mart(NYSE:WMT) and Target (NYSE:TGT).

Don’t Miss: Sears Holdings Corp Earnings Cheat Sheet: Shrinking Margins for Fifth Consecutive Quarter.

Thursday’s Trending Stocks

The Dow Jones Industrial Average is trading flat around 11,900 and the S&P 500 Index is trading at 1,232 today. Here are the stocks buzzing among traders and investors on Wall Street:

  1. Children’s Place Retail Stores, Inc. (NASDAQ:PLCE): Shares of Children’s Place Retail Stores, Inc. are trading higher 15% today. The Children’s Place Retail Stores, Inc. retails value-priced apparel and accessories for newborn to 12 year old children. The Company designs, contracts to manufacture, and sells its products under The Children’s Place brand name. The Children’s Place operates stores primarily located in regional shopping malls in the eastern half of the United States.
  2. Delphi Automotive Plc (NYSE:DLPH): Shares of Delphi Automotive Plc are trading lower 1% today.
  3. Perry Ellis International, Inc. (NASDAQ:PERY): Shares of Perry Ellis International, Inc. are trading lower 34% today. Perry Ellis International, Inc. designs, imports, and markets men’s fashion sportswear. The Company’s products are marketed under a variety of names such as Perry Ellis, Perry Ellis Portfolio, Perry Ellis America, Crossings, and John Henry. Perry Ellis’ products are sold to department stores, chain stores, and mass merchants throughout North America and other countries.
  4. Rambus Inc. (NASDAQ:RMBS): Shares of Rambus Inc. are trading higher 18% today. Rambus Inc. designs, develops, licenses, and markets high-speed chip-to-chip interface technology to enhance the performance and cost-effectiveness of consumer electronics, computer systems, and other electronic systems. The Company licenses semiconductor companies to manufacture and sell memory and logic ICs incorporating Rambus interface technology.
  5. CurrencyShares Euro Trust (NYSEARCA:FXE): Shares of CurrencyShares Euro Trust are trading flat today. Euro Currency Trust is a grantor trust formed under the laws of the State of New York. The objective of the Trust is to reflect the price of the Euro. The Sponsor believes that, for many investors, the Shares represent a cost-effective investment in euro.
  6. Sears Holdings Corporation (NASDAQ:SHLD): Shares of Sears Holdings Corporation are trading lower 4% today. Sears Holdings Corporation is a broadline retailer with full-line and specialty retail stores in the United States and Canada. The Company retails home appliances, as well as tools, lawn and garden products, home electronics, and other products. Sears Holdings also provides automotive repair and maintenance.
  7. NetApp Inc. (NASDAQ:NTAP): Shares of NetApp Inc. are trading lower 10% today. NetApp, Inc. provides storage and data management solutions. The Company’s storage solutions include specialized hardware, software, and services that provide storage management for open network environments. NetApp serves enterprises, government agencies, and universities worldwide.
  8. The J.M. Smucker Company (NYSE:SJM): Shares of The J.M. Smucker Company are trading flat today. The JM Smucker Company manufactures and markets food products on a worldwide basis. The Company’s principal products include peanut butter, shortening and oils, fruit spreads, canned milk, baking mixes and ready-to-spread frostings, flour and baking ingredients, juices and beverages, frozen sandwiches, dessert toppings, syrups, pickles and condiments, and potato side dishes.
  9. Dollar Tree, Inc. (NASDAQ:DLTR): Shares of Dollar Tree, Inc. are trading flat today. Dollar Tree, Inc. operates a discount variety store chain. The Company sells an assortment of everyday general merchandise. Dollar Tree sells its merchandise at the $1.00 price point. The Company operates throughout the United States.
  10. Micron Technology, Inc. (NASDAQ:MU): Shares of Micron Technology, Inc. are trading lower 3% today. Micron Technology, Inc., through its subsidiaries, manufactures and markets dynamic random access memory chips (DRAMs), very fast static random access memory chips (SRAMs), Flash Memory, other semiconductor components, and memory modules.
Market Recap

Markets closed down on Wall Street today: Dow -1.13%, S&P -1.67%, Nasdaq -1.96%, Oil -3.53%, Gold -3.10%.

On the commodities front, Oil (NYSE:USO) fell to $98.97 a barrel. Precious metals were also down, with Gold (NYSE:GLD) falling to $1,719.30 an ounce while Silver (NYSE:SLV) fell 6.82% to settle at $31.52.

Hot Feature: IMF Awaits Political Support Before Releasing Greek Aid.

Today’s markets were down because:

1) Europe. Germany continues to object to letting the European Central Bank act more aggressively to contain the crisis, while France, finding itself in danger of contagion as bond yields climb to euro-era highs, renews its efforts to convince Germany that ECB support for Europe’s rescue fund is the best, and possibly only, way to counter the debt crisis. With the euro zone’s two largest economies divided, Greece and Italy still trying to get their footing with new governments, the situation in Europe was more than enough to rattle investors today.

2) Jobless. Initial jobless claims came in lower than expected at 388,000 for the week ending November 12, down from 390,000 in the week prior, a figure that was the lowest since April. Any number below 400,000, if sustained for a significant amount of time, implies that the economy is adding jobs, and that unemployment is in decline. However, with the Occupy Wall Street movement in New York and around the world grabbing headlines, and Europe continuing to be at the forefront of business and economic news, U.S. economic data just wasn’t enough to buoy markets.

3) Tech. Although Angie’s List (NASDAQ:ANGI) hit a home run with its initial public offeringtoday, Hewlett-Packard (NYSE:HPQ), Intel (NASDAQ:INTC), and Cisco (NASDAQ:CSCO) were among the many tech stocks weighing down the market as the entire computer industry has been hit by a decline in Western European PC shipments.

BONUS: These Top U.S. Banks are Vulnerable to European Crisis.

After Hours Radar Stocks

Shares of Angie’s List (NASDAQ:ANGI) continue to climb 1.29% higher in late trading.  The company priced its initial public offering at $13 per share and popped as high as $18.75 in debut trading. The company sold 8.79 million shares and is expected to raise $114.3 million. Bank of America (NYSE:BAC) and Merrill Lynch underwriters can also sell another 1.3 million shares.

Intuit Inc. (NASDAQ:INTU) is edging slightly higher after reporting quarterly results.  The company’s loss narrowed to $64 million (loss of 21 cents per diluted share) from $70 million (loss of 22 cents per share) in the same quarter a year earlier.  Competitors include: Microsoft (NASDAQ:MSFT) and H&R Block, Inc. (NYSE:HRB).

Salesforce.com (NYSE:CRM) is down nearly 7% as margins shrink due to rising costs.  The company reported a loss of $3.8 million (3 cents per diluted share) in the quarter, while it had net income of $21.1 million or (15 cents per share) in the year earlier quarter.

Dig Deeper: Salesforce.com inc. Earnings Cheat Sheet: Margins Shrink on Rising Costs.

Marvell Technology Group (NASDAQ:MRVL) is receiving a boost in extended trading hours.  Net income for the company fell to $195.1 million (32 cents per share), compared to $255.7 million (38 cents per share) a year earlier. This is a decline of 23.7% from the year earlier quarter.  Shares are up more than 4% on the news.

Despite margins shrinking for the fifth straight quarter, shares of Gap Inc. (NYSE:GPS) are edging .40% higher in late trading.  Net income for the apparel store fell to $193 million (38 cents per share), compared to $303 million (48 cents per share) a year earlier. This is a decline of 36.3% from the year earlier quarter.  Competitors include: Urban Outfitters (NASDAQ:URBN), Aeropostale, Inc. (NYSE:ARO), and Target (NYSE:TGT).

Investing Insights: The Gap Inc. Earnings Cheat Sheet: Margins Shrink For Fifth Straight Quarter as Profit Falls.

Nike Inc (NYSE:NKE) is attracting attention after the closing bell as it raises its quarterly dividend 16%.  The dividend will be raised from 31 cents per share to 36 cents per share.  “We are pleased to increase our dividend for the tenth year in a row,” said Nike CEO Mark Parker.

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