U.S. shares traded mostly lower today as investors digested a strong core inflation figure ahead of Fed Chair Janet Yellen's afternoon speech. The S&P 500 (INDEXSP:.INX) skidded 0.2 percent to 2,127 at 11:47 a.m. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) fell 0.3 percent to 18,227, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) lost 0.1 percent to 5,086. Most followed shares included Deere & Co, Gap, Campell Soup, Hibbett Sports, Aeropostale, ELong, Foot Locker, Fresh Market, HP, Ross Stores, Intuit, and BlackBerry.
Deere & Co (NYSE:DE) advanced 3.9 percent to $92.95 as the world’s sales leader in farm equipment raised its full-year profit forecast while reporting better-than-expected results for its fiscal second quarter. Net income will be $1.9 billion in the fiscal year through October, the Moline, Illinois-based company said in a statement today, raising a February projection of about $1.8 billion. The company also posted fiscal second-quarter profit that exceeded analysts’ estimates.
In consumer shares, Gap (NYSE:GPS) fell 1.5 percent to $37.99 after the biggest apparel-focused retailer in the U.S. reported an 8 percent drop in quarterly profit, weakened by a stronger dollar and sluggish sales at its namesake brand. Net income fell to $239 million, or $0.56 per share, in the three months ended May 2, from $260 million, or $0.58 per share, a year earlier. Analysts on average estimated a profit of 56 cents per share, according to Capital IQ data.
Campbell Soup (NYSE:CPB) advanced 1.4 percent to $47.59 after reporting tepid sales in its latest quarter, though profit easily topped Wall Street expectations as the company scaled back promotions and moved forward with cost-cutting plans.
Hibbett Sports (NASDAQ:HIBB) declined 1.2 percent to $45.22 as the sporting goods retailer earned $1.09 per share for its latest quarter, $0.04 below estimates, while revenue fell short of forecasts as well. The company cites poor weather as well as port delays.
Aeropostale (NYSE:ARO) slumped 13.5 percent to $2.24 after the teen apparel retailer estimated a bigger-than-expected quarterly loss for the July quarter, which includes the opening of the critical back-to-school period.
ADRs of ELong (NASDAQ:LONG) surged 8.7 percent to $22.45 after Expedia (NASDAQ:EXPE) said it sold its entire stake in the Chinese online travel company to rival Ctrip.com (NASDAQ:CTRP) and others. ADRs of Ctrip rose 13.3 percent to $81.72.
Foot Locker (NYSE:FL) fell 0.4 percent to $63.70 after the sports apparel and footwear retailer beat estimates by 6 cents with earnings of $1.29 per share. Revenue and same-store sales were above analyst forecasts, and the company said the quarter was the most profitable in its history.
Fresh Market (NASDAQ:TFM) fell 5.5 percent to $31.92 as the specialty grocer reported adjusted quarterly profit of 50 cents per share, 1 cent above estimates, with revenue falling short of Street forecasts. Fresh Market also cut its forecast for comparable store sales for the year, saying they will increase one to 3 percent compared to an earlier projection of 2 to 4 percent.
In technology stocks, Hewlett-Packard (NYSE:HPQ) jumped 4 percent to $35.24 after the technology company reported adjusted quarterly profit of $0.87 per share, $0.02 above estimates.
Ross Stores (NASDAQ:ROST) fell 3 percent to $98.49 even as the discount retailer beat estimates by 9 cents with quarterly profit of $1.37 per share, and revenues also exceeded forecasts. Comparable store sales for Ross were up 5 percent. (cons)
Brocade Communications (NASDAQ:BRCD) jumped 2.3 percent to $12.29. The networking equipment company earned an adjusted 22 cents per share for its latest quarter, 2 cents above estimates, Brocade also announced a 29-percent increase in its quarterly dividend to 4½ cents per share.
Intuit (NASDAQ:INTU) rose 3.5 percent to $107.76 as the financial software maker exceeded estimates by $0.11 with adjusted quarterly profit of $2.85 per share, while revenue for Intuit slightly exceeded consensus.
BlackBerry (NASDAQ:BBRY) rose 1.5 percent to $10.42 on the smartphone maker's plans to buy back stock.