Post Market Update
Stocks that were active in U.S. trading on Friday include Lululemon Athletica inc. (NASDAQ:LULU), Sarepta Therapeutics Inc (NASDAQ:SRPT), TransDigm Group Incorporated (NYSE:TDG), World Acceptance Corp. (NASDAQ:WRLD) and Restoration Hardware Holdings Inc (NYSE:RH).
- U.S.: Dow Jones: 15,073.68 (+0.57%), S&P 500: 1,626.40 (+0.68%), Nasdaq: 3,468.14 (+0.71%)
- World Markets: Shanghai: 2,007.20 (+0.05%), Nikkei 225: 14,309.97 (+2.08%), Hang Seng Index: 20,854.67 (+1.89%), TSEC: 8,001.82 (+1.37%), FTSE 100: 6,375.52 (-0.72%), EURO STOXX 50: 2,596.01 (-1.91%), BSE Sensex: 19,495.82 (+0.44%)
- Metals: Gold: $1,212.70 (-3.13%), Silver: $18.78 (+0.23%), Platinum: $1,327.60 (+0.09%)
- Currency: EUR/USD: 1.2830 (-0.67%), USD/JPY: 101.18 (+1.22%), GBP/USD: 1.4900 (-1.15%), USD/CAD: 1.0579 (+0.64%), USD/CNY: 6.1326 (+0.11%), AUD/USD: 0.9069 (-0.79%)
- 10 year U.S. Treasury: 2.71% (+0.03), 30 year U.S. Treasury: 3.67% (+0.03)
Market & Economy Update
The U.S. Labor Department said today that the U.S. economy added 195,000 new jobs in June, beating the consensus estimate of 165,000. However, the unemployment rate remained at 7.6 percent. The U.S. dollar and bond yields surged after the positive economic data. The Dow Jones Industrial Average jumped 85.13 points to 15,073.68, the S&P 500 Index rose 11.89 points to 1,627.30, while Nasdaq inched up 26.06 points to 3,469.73.
Stocks In Focus
Lululemon Athletica inc. (NASDAQ:LULU)
Lululemon chairman Chip Wilson has been reducing his stake in the company consistently over the past few years. Today he announced he will offer 3.4 million shares of the yoga apparel maker. The offering will reduce his stake in Lululemon from 28 percent to 25 percent. The Lululemon CEO has announced his intention to resign after an appropriate replacement is found. Wilson’s latest offering is expected to fetch about $220 million at the current price. Lululemon shares tanked 1.66 percent to end the session at $63.43.
Sarepta Therapeutics Inc (NASDAQ:SRPT)
The drugmaker has reached an equity offering agreement with Further Lane Securities LP. The agreement will allow Sarepta to offer and sell its common stock shares with a maximum aggregate value of $125 million through Further Lane. Sarepta said it will use the proceeds for general corporate purposes. Shares rose 2.60 percent to close the session at $40.65.
TransDigm Group Incorporated (NYSE:TDG)
The aircraft component maker said in a statement that its board has approved a $22 per share special dividend payable on July 25. TransDigm is trying to boost shareholder value. The company said it would still have enough funds to meet acquisition and operating needs. Shares rose 2.47 percent to $157.40.
World Acceptance Corp. (NASDAQ:WRLD)
World Acceptance said Wednesday that it wouldn’t be able to file some parts of its 10-K with the SEC for FY’13 ending March 31. World Acceptance witnessed unexpected delays in preparing financial statements due to further review of the company’s allowance for debt losses. Shares sank 12.06 percent to $78.02.
Restoration Hardware Holdings Inc (NYSE:RH)
Restoration Hardware said in an SEC filing that it plans to sell 10 million shares in a secondary offering. The company has 38.1 million outstanding shares. Shares dropped 1.69 percent to end the trading session at $74.65.