MARKETS’ GAINS GIVE A LIFT TO FASHION, DOT-COM ISSUES

NEW YORK — Emboldened by a flurry of positive earnings results, the stock market again shrugged off Friday’s losses and continued upward on Tuesday, taking along several fashion issues.
The Dow Industrials tacked on 190 points, or 1.8 percent, to 10,773, while frenzied buying in technology shares lifted the Nasdaq Composite 254 points, or 7.2 percent, to 3,793. Market pundits said investors were encouraged by better than expected first-quarter earnings results from Johnson & Johnson, Pfizer Inc., and Delta Air Lines Inc.
Tiffany rose 5 1/2 to 71, after saying first-quarter earnings would far exceed Wall Street estimates. Gucci, up 2 1/4 to 85 1/16, and Louis Vuitton Moet Hennessey, ahead 1 3/4 to 81 3/4, each recouped some of their losses on Friday.
Other vendor advancers included Liz Claiborne, 1 3/16 to 42 11/16; Polo, 13/16 to 16 1/2; and Quiksilver, 1 1/8 to 19 1/2. Timberland shot up 7 3/8 to 57 1/8 on an 87 percent first-quarter profit gain.
Teen chains rallied — American Eagle, up 2 1/8 to 25 3/16; Abercrombie & Fitch, 1 1/16 to 11 3/4; Bebe Stores, 1 to 10; Wet Seal, 3/4 to 16 1/4; and Gadzooks, 3 5/16 to 30 — while many dot-coms bounced back: Fogdog, 1 to 4; Alloy Online, 1 1/16 to 11 1/8; Drugstore.com, 2 1/8 to 9 1/8; and Styleclick.com, 1 1/8 to 7 1/4.
Other noteworthy gains were notched by Kohl’s, 7 1/2 to 98 1/16; Target, 4 1/16 to 69 3/8; Talbots, 4 11/16 to 53 1/2; Nordstrom, 1 15/16 to 29 7/8; Limited, 1 1/16 to 44; and Sears, 1 3/4 to 38 1/2.

load comments
blog comments powered by Disqus