Polo Ralph Lauren Corp (RL)
A prepster just isn't a prepster without a Polo-insignia on his shirt. Polo Ralph Lauren Corporation designs and distributes their high quality brand of clothing, accessories, fragrances and home products through department stores, their own retail stores, and online at their website. Its hundreds of world-wide retail stores bring the style of moneyed Hamptons trust-fund babies to shoppers everywhere.
Sector Update: Consumer Shares Mixed On Employment Data, Earnings
03:44 PM Eastern Standard Time, 02/03/2010 (MidnightTrader) -- Top Consumer Stocks
WMT: +1.75%
MCD: +1.94%
DIS: +3.47%
CVS: -3.03%
TWX: -1.89%
Shares of consumer firms stayed mixed throughout the day as word that planned layoff announcements, coupled with earnings results, weighed on stocks.
According to a job-cut tally by outplacement firm Challenger Gray & Christmas, planned layoff announcements at major U.S. corporations increased 59% in January, reaching 71,482 from a nine-year low of 45,094 seen in December.
That marks the first month-to-month increase since July, the firm reported.
Markets also moved with word that the private sector in the U.S. eliminated 22,000 jobs in January, the fewest jobs lost since 22,000 jobs were added in January of 2008. The jobs data come two days before the Bureau of Labor Statistics releases its estimate of January nonfarm payrolls. Economists surveyed by MarketWatch are looking for payrolls to rise 20,000 in the BLS survey.
Earnings news also moved stocks.
Time Warner (TWX) said it made a fourth quarter profit when it reported quarterly results Wednesday. The media conglomerate showed strong performances for its filmed-entertainment and cable-networks divisions as well as the absence of special charges.
The New York-based company increased its dividend and stock-buyback plan as CEO Jeff Bewkes said Time Warner achieved all goals set forth for 2009.
Shares of Time Warner were down 1.61%, or $0.46, to $28.05.
The earnings report is the first since spinning off AOL Inc. (AOL) AOL shares were up 1.12%, or $0.275, to $24.925.
In other media results, News Corp. (NWS) said late Tuesday that it posted a second-quarter profit on strong performance in its film and cable TV businesses, as well as strength in the newspaper category.
The media conglomerate again raised its fiscal 2010 operating income forecast. It now sees income rising by a low-20% range over the fiscal 2009 total of $3.44 billion.
News Corp. shares were up 5.32%, or $0.80, to $15.84.
Polo Ralph Lauren (RL) reports Q3 EPS of $1.10 vs $1.05 a year earlier and beating the Thomson Reuters mean analyst estimate for $1.01. Q3 revenue was $1.2 billion. The Street looked for $1.25 billion. Same-store sales rose 6%.
Polo Ralph Lauren shares were down 8.57%, or $7.34, to $78.33.
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Current price per share
Today's gain: $-0.45 (-0.54%)
