Fine Finish For Stocks, Great Day For LULU

September 12th, 2010

Gold and oil move higher for the week while Lululemon Athletica shares jump 12 percent on Friday after beating Wall Street estimates. U.S. equities as a whole were relatively unchanged for the week. Crude oil futures jumped higher amid weakness earlier in the week, trading around $76 a barrel on Friday afternoon. Gold futures drifted higher for the second week in a row, selling for $1,244 an ounce mid-day on Friday.

On the economic front, consumer credit outstanding for July was released on Wednesday. Credit contracted in July by minus $3.5 billion, in-line with expectations.

On Thursday, the Labor Department said that initial jobless claims declined by 27,000 to a total of 451,000 for the week ending September 4. This was better than the 470,000 jobless claims economists had expected.

International trade figures were released on Thursday showing improvement from the previous months report. The trade gap was lower in July coming in at $42.8 billion as exports rebounded and imports dropped. This was a surprise after the trade deficit spiked to nearly $50 billion in June. Analysts were expecting the trade deficit to come in at $46.8 billion.

Shares of Adobe Systems ( ADBE – news – people ) were up sharply on Thursday after Apple ( AAPL – news – people ) announced it is relaxing restrictions on certain development tools. These restrictions had previously prevented any applications from using Adobes Flash software.

On Wednesday, truck maker Navistar International posted $1.83 per share, beating the street estimate of $1.36.

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Pep Boys ( PBY – news – people ) reported profits on Wednesday of 20 cents per share, beating the consensus estimate. Analysts were expecting 19 cents.

National Semiconductor ( NSM – news – people ) posted earnings after the bell on Thursday of 36 cents per share, beating the street by 1 cent.

Mens clothing retailer Mens Wearhouse beat Wall Street expectations on Thursday as well with its second quarter earnings announcement. Adjusted earnings were 83 cents per share, way ahead of the consensus estimate of 41 cents.

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