Home Business Market News: BlackBerry Ltd, Lululemon Athletica, JC Penney Company Inc

Market News: BlackBerry Ltd, Lululemon Athletica, JC Penney Company Inc

The stock markets in the United Stated ended the trading session with mixed results today. The Dow Jones Industrial Average (DJIA) declined 0.17%, the S&P 500 slightly gained while the NASDAQ ended the trading flat.

The oil price rebound offset concerns regarding the escalation of geopolitical tension. The equities of energy companies in the S&P 500 gained 0.1%, recovering an earlier loss of 1.2%, according to Bloomberg.

According to Dan Miller, director of equities at GW&K Investment Management in London, “We’re just stuck in a tight range because the market has been so strong this year, and every now and then the market needs a little time to cool off. Geopolitical events, of course, always make the market nervous.”

Today, the Department of Labor reported that the number of people who applied for unemployment benefits increased unexpectedly last week. A spokesperson for the agency explained that the data for the week included the Labor Day holiday. The spokesperson emphasized that data during such periods are difficult to adjust.

Yesterday, President Barack Obama promised a “relentless” campaign to destroy ISIL in Iraq and Syria. Saudi Arabia and Jordan, the allies of the United States in the Middle East will play crucial supporting roles in the campaign.

U.S. Markets

  • Dow Jones Industrial Average (DJIA)- 17,039.88 (-0.17%)
  • S&P 500- 1,995.89 (+0.01%)
  • NASDAQ- 4,586.45 (-0.00%)
  • Russell 2000- 1,171.13 (+0.55%)

European Markets

  • EURO STOXX 50 Price EUR- 3,237.76 (-0.20%)
  • FTSE 100 Index- 6,799.62 (-0.45%)
  • Deutsche Borse AG German Stock Index DAX- 9,696.28 (-0.09%)

Asia-Pacific Markets

  • Nikkei 225- 15,909.20 (+0.76%)
  • Hong Kong Hang Seng Index- 24,662.64 (-0.17%)
  • Shanghai Shenzhen CSI 300 Index- 2,423.45 (-0.37%)

Stocks in Focus

The stock price of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) increased nearly 5% to $10.77 per share after the company acquired Movirtu, a London-based mobile technology company to boost the management features of its smartphone. John Sims, president of BlackBerry Enterprise unit, said, “Our strategy is to broaden BlackBerry’s solutions and services that enable our customers to fully embrace the potential of enterprise mobility.”

The shares of Lululemon Athletica inc (NASDAQ:LULU) closed $43.73 per share, up by nearly 14% driven by higher revenue for the second-quarter and positive full year outlook.

J C Penney Company (NYSE:JCP) gained more than 3% to $11.14 per share after announcing its cash tender offers. Steven Ruggiero, managing director at R.W. Pressprich & Co. maintained his Buy rating for the unsecured notes and Market Perform for the shares of the company.