Market News: General Motors, ExactTarget, G-III, Carlyle Group

Market News: General Motors, ExactTarget, G-III, Carlyle Group

Post Market News

Market News: General Motors, ExactTarget, G-III, Carlyle Group

Stocks that were active in the U.S. trading on Tuesday include General Motors Company (NYSE:GM), ExactTarget Inc. (NYSE:ET), G-III Apparel Group Ltd. (NASDAQ:GIII), Carlyle Group LP (NASDAQ:CG) and Dollar General Corp. (NYSE:DG).

Market Levels

  • U.S.: Dow Jones: 15,208.28 (-0.30 percent), S&P 500: 1,633.13 (-0.44 percent), Nasdaq: 3,447.49 (-0.52 percent)
  • World Markets: Shanghai: 2,272.42 (-1.17 percent), Nikkei 225: 13,533.76 (+2.05 percent), Hang Seng Index: 22,285.52 (+0.01 percent), TSEC: 8,191.22 (-0.12 percent), FTSE 100: 6,558.58 (+0.51 percent), EURO STOXX 50: 2,755.70 (+0.29 percent), BSE Sensex: 19,545.78 (-0.33 percent)
  • Metals: Gold: $1,397.20 (-1.04 percent), Silver: $22.41 (-1.37 percent), Platinum: $1,491.10 (-0.42 percent)
  • Currency: EUR/USD: 1.3081 (+0.05 percent), USD/JPY: 100.06 (+0.63 percent), GBP/USD: 1.5304 (-0.15 percent), USD/CAD: 1.0347 (+0.70 percent), USD/CNY: 6.1286 (-0.05 percent), AUD/USD: 0.9634 (-1.24 percent)
  • 10 year U.S. Treasury: 2.13 percent (0.00), 30 year U.S. Treasury: 3.30 percent (+0.01)

Market & Economy Update

The Commerce Department said today that the U.S. trade deficit widened in April as slow economic growth overseas restricted the demand of U.S. goods in the international markets. Imports increased 2.4 percent to $227.7 billion while exports rose only 1.2 percent to $187.4 billion. Wall Street fell today amid concerns that the Federal Reserve may pull back its stimulus program.

Quant ESG With PanAgora Asset Management’s George Mussalli

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The Dow Jones Industrial Average was down 45.75 points to 15,208.28, the S&P 500 Index fell 9.06 points to 1,631.36 while Nasdaq skidded 20.11 points to 3,452.45.

Stocks In Focus

General Motors Company (NYSE:GM)

General Motors Company (NYSE:GM) will replace Heinz in the S&P 500 Index after Thursday’s trading session, another big milestone for the largest U.S. automaker. General Motors will join the index after four years. It was dropped in 2009 following the company’s bankruptcy and subsequent bailout. General Motors’ shares rose 1.57 percent to $34.96.

ExactTarget Inc. (NYSE:ET) Inc. (NYSE:CRM) announced to acquire ExactTarget Inc. (NYSE:ET) in a $2.5 billion cash deal. Salesforce plans to expand its marketing portfolio. Salesforce agreed to pay $33.75 cash per share of ExactTarget. That’s a 53 percent premium to its closing price on Monday. Shares surged 52.44 percent to end the session at $33.69.

G-III Apparel Group Ltd. (NASDAQ:GIII)

The women’s accessories maker swung to a first quarter profit amid double digit sales growth and solid margins. Earnings handily beat Wall Street expectations. The company also raised its full year guidance. Shares rose 21.22 percent to end the trading session at $51.81.

Carlyle Group LP (NASDAQ:CG)

The private equity firm said that the California Public Employees’ Retirement System has decided to offload its entire 4.1 percent stake in the company. CALPERS will sell all the 11.1 million units of Carlyle it owns. CALPERS had invested $175 million in 2001 to acquire a 5.5 percent stake in the private equity firm, which it later diluted by selling units. Shares plunged 5.36 percent to $27.82.

Dollar General Corp. (NYSE:DG)

Dollar General Corp. (NYSE:DG)’s first quarter profits increased 3.1 percent amid strong same store sales. Excluding one-time items, the company earned 71 cents a share with $4.23 billion in revenues. Analysts were expecting 71 cents in EPS and $4.24 billion in revenues. Despite strong performance in the first quarter, the company lowered its full year guidance. Shares were down 9.17 percent to $48.64 at the end of the trading session.

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