Afternoon Market Update

The financial sector gained again to lead the US stocks after the Labor Department reported upbeat data on initial jobless claims. Shares of Bank of America Corp (NYSE: BAC) and Morgan Stanley (NYSE: MS) moved up more than 3%. Shares of regional banks rose on rumors of their acquisition by the...

Navistar International Corp (NYSE: NAV) shares fell about 3.74%, after the company reduced its revenue projections for 2010. The company lowered its outlook as the military truck orders were postponed. NAV is now projecting its 2010 revenue at around $12 billion. However, the analysts expected the...

Shares of ResCare Inc (NASDAQ: RSCR) jumped about 6% after the company entered into a definitive agreement with Onex Corporation’s affiliate Onex Partners III LP. Onex will acquire all the outstanding shares of RSCR, under the agreement. Onex will purchase the RSCR’s shares for $13.25 per share in...

The US financial sector gained momentum after the upbeat August nonfarm payrolls data. Shares of Goldman Sachs Group Inc (NYSE: GS) rose about 3.45%, while Wells Fargo & Co (NYSE: WFC) moved up about 2.47%. The Financial Select Sector SPDR Fund (XLF) gained about 1.09%. Gold futures dipped...

Crude-oil futures fluctuated today, as the US stocks showed a slight rise recently. Crude for October delivery rose about or 0.2% to $74.05 a barrel on the New York Mercantile Exchange (NYMEX). Oil initiated the day on a negative note, but covered its losses after some time. 3Par Inc is likely to...

Shares of Expedia Inc (NASDAQ: EXPE) gained about 6.34%, along with the broader market. EXPE’s shares have risen more than 15% in the past three months, but the stock is still down about 6% this year. Shares of rival Priceline.com Inc (NASDAQ: PCLN) are also up about 3.87%, while Orbitz Worldwide...

The US dollar has widened its losses against the euro following data indicating a rise in US consumer confidence and home prices. The better-than-expected data has provided some support to US stocks, which has lowered the demand for the dollar. The euro moved up after a narrower-than-expected...

US Retail stocks fell after the data showing lesser-than-expected increase in personal income for the month of July. Shares of Lululemon Athletica Inc (NASDAQ: LULU) dropped about 8.5% after Jefferies & Co downgraded the company from “hold” to “underperform.” The analysts have also lowered its...

The US financial sector moved up following the Commerce Department’s report indicating better-than-expected data on Gross Domestic Product (GDP) in Q2. However, the shares of Goldman Sachs Group Inc (NYSE: GS) lost about 1.5%. The Financial Select Sector SPDR Fund (XLF) rose about 1.41%. Shares of...

Shares of Hain Celestial Group (NASDAQ: HAIN) surged more than 4% after the company reported strong Q4 results yesterday. CEO Irwin Simon said, "In a tough economy, consumers continued to recognize the value of eating healthy and how healthful eating will continue to be a major part of people's...

Shares of DR Horton Inc (NYSE: DHI) rose about 2.71% after the analyst Stephen East of Ticonderoga Securities upgraded the company from “neutral” to “buy.” Stephen East said, "The fundamental outperformance of this company combined with an attractive equity entry point makes this story one of the...

Shares of 3Par Inc (NYSE: PAR) continued their upward movement after Hewlett-Packard (NYSE: HPQ) decided to bid for PAR at $24 per share, just days after Dell (NASDAQ: DELL) decided to offer $18 per share for the company. Several analysts are expecting Dell to make a counter offer for PAR. PAR’s...

Shares of Powell Industries Inc (NASDAQ: POWL) jumped after Sidoti & Co upgraded the company from “neutral” to “buy.” The target price for the company is set to $38. Sidoti analyst John Franzreb said, "Although we expect new orders in the oil and gas sector to remain weak through next year, we...

Moody's Investors Service has raised the issuer rating of eBay Inc (NASDAQ: EBAY) from “A3” to “A2” to reflect the company's strong performance and credit metrics through the period of economic downturn. Moody's said, "The upgrade reflects eBay's solid debt protection measures that are derived from...

Shares of Safeway Inc shares (NYSE: SWY) moved down after Longbow Research analyst Alton Stump downgraded the company from “neutral” to “sell.” The target price for the company is set to be $16. SWY’s shares dipped about 3.7% following the downgrade. Shares of Target Corp (NYSE: TGT) and BJ's...