Quick Look Market Closing Price:
At the close: Dow +0.43% to 12150. S&P +0.11% to 1258. Nasdaq -0.23% to 2321.
Treasurys: 30-year -0.13%. 10-yr -0.05%. 5-yr +0.015%.
Commodities: Crude +0.1% to $101.18. Gold +0.09% to $1733.15.
Currencies: Euro +0.02% vs. dollar. Yen -0.01%. Pound +0.01%.
After Hours Earning News:
Men's Wearhouse (MW) gains 5.3% AH after reporting FQ3 revenue of $584.6M (+6.3% Y/Y) and EPS of $0.79, beating Street estimates by $13.7M and $0.14. Gross margin was 45.9%, down 130 bps Q/Q but up 315 bps Y/Y. The company expects FQ4 EPS of -$0.15 to -$0.12, slightly worse than a -$0.11 consensus. Sales are expected be up 3.5%-4%, compared with a 4.1% consensus.
ACE Limited (ACE +1.5%) finishes higher after being upgraded to Buy from Neutral at Ticonderoga, saying it's one of the best ways to play a turn in the property casualty insurance cycle.
Vitesse (VTSS) FQ4 misses estimates, swinging to a loss for the quarter on weak demand globally. The stock is up in after-hours trading however, as investors focus on the strength of the company's 2012 new product cycle. This year the company brought over 20 new products to market, and achieved over 300 of design wins with over 100 of its top-tier customers, more than double the design wins of 2010. Shares +8.1% AH.
Tier Technologies (TIER) moves higher in the post-trading session after its FQ4 beats estimates across the board. The company still racked up losses on a per share basis however, as its bottom line continues to be impacted by major shifts in management, changes in technology direction, and an overhaul to its sales and marketing strategy. Shares +2.5% AH.
Express (EXPR) announces a 16M common share secondary offering with an additional option for another 2.4M. Shares -3.6% AH.
First Niagara (FNFG) announces a $450M share placement, representing about 17% of the regional bank's current market value, as the company looks to raise funds to buy branches of HSBC Holdings (HBC). Shares -4.5% AH
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