Stocks Finish Higher; Nasdaq Back Above 3000
In corporate news, Tiffany & Co. (TIF) , the upscale jewelry retailer, posted disappointing third-quarter results and cut full-year profit expectations as the company was challenged by continued high precious metal and diamond costs, economic weakness and a higher-than-expected tax rate. Shares tumbled 6.2%.
Grocer Kroger (KR) raised its fiscal 2012 adjusted earnings per share guidance after posting better-than-expected third-quarter results as identical supermarket sales growth, without fuel, came in at 3.2% in the quarter. The stock rose 4.8%.
Barnes & Noble (BKS) , the book seller, posted a second-quarter loss of 4 cents a share, including the impact of its dividend on redeemable preferred shares, on revenue of $1.9 billion; analysts, on average, predicted a quarterly loss of 11 cents a share on revenue of $1.91 billion. The stock fell 11.2%.
Shares of Aeropostale(ARO) fell 5% after the retailer gave fourth-quarter earnings guidance of 36 to 41 cents a share, well below the consensus view for a profit of 54 cents a share.
Late Wednesday, NCR (NCR) agreed to acquire Israeli software company Retalix (RTLX) for $30 a share, or $650 million. NCR shares were up 0.67% and Retalix shares gained 0.20% after a huge jump in yesterday's session.
Limited (LTD) shares tacked on 1.6% after the specialty retailer booked a better-than-expected 5% rise in November same-store sales.
Workday(WDAY) , the enterprise cloud-based applications provider, posted a narrower-than-expected third-quarter loss and a better-than-expected current quarter revenue outlook. Still, shares fell 2.8%.
Shares of Research In Motion (RIMM) surged 4% after the BlackBerry maker's stock was upgraded to buy from neutral at Goldman.
Guess? (GES) shares added 1.9% after the apparel company declared a special dividend of $1.20 a share.
-- Written by Andrea Tse and Joe Deaux in New York.
>To contact the writer of this article, click here: Andrea Tse .