ADVFN - Advanced Financial Network.
HOME» NYSE » B » BKC Stock Price » BKC Stock News

Burger King Holdings Share News

 Burger King Holdings Stock Price
BKC Stock Price
 Burger King Holdings Stock Chart
BKC Stock Chart
 Burger King Holdings Stock News
BKC Stock News
 Burger King Holdings Company Information
BKC Company Information
 Burger King Holdings Stock Trades
BKC Stock Trades

MARKET SNAPSHOT: Stocks Creep Higher Near Close Of Trading

By Donna Kardos Yesalavich Stocks added modest gains, trading in a tight range as investors awaited official monthly jobs data on Friday that will shed more light on the economic recovery. The Dow Jones Industrial Average (DJI) gained 27 points, or 0.3%, to 10297 in late afternoon trading, while the Nasdaq Composite (RIXF) rose 0.8% to 2194 and the Standard & Poor's 500-stock index (SPX) edged up 0.6% to 1087. The modest gains came after better-than-expected housing and retail data provided some encouragement, but caution prevailed following Wednesday's big run-up. If the official jobs report disappoints already guarded expectations, "that's going to reverse what happened" on Wednesday, when stocks jumped 255 points, said John Canally, economist and investment strategist at LPL Financial. Mr. Canally said that while economic data has come in mixed recently, "the preconditions for a double dip are not here." Strong manufacturing data on Wednesday "puts the burden of proof back on the double dippers," he said. Retailers led Thursday's small climb after sales for the back-to-school buying month of August largely came in better than expected. Nordstrom (JWN) jumped 7.5%, Limited Brands (LTD) advanced 5.9% and J.C. Penney (JCP) rose 2.7%. Homebuilders were also strong, as investors were heartened by an unexpected increase in pending sales of used homes, a surprising reversal after the index fell two months in a row following the April 30 expiration of a tax credit for buyers. D. R. Horton (DHI) rose 2.7%, PulteGroup (PHM) added 1.5% and Lennar (LEN) climbed 1.4%. However, the retail-sales reports came on easy comparisons, and Lawrence Yun, chief economist for the National Association of Realtors, warned that the housing market's recovery would still be a long one. "We're sort of stuck in the mud," said Barry Knapp, managing director, equity research at Barclays Capital. While he noted that the housing and retail sales data topped expectations, Knapp said "nothing in the data to me points to a change in trend. It points to continued slow growth." Thursday's data had its disappointments. U.S. factory orders rose less than expected in July, while the level of U.S. workers filing new jobless claims last week suggested lingering troubles in the job market, and second-quarter productivity fell more than previously thought. Meanwhile, the government's monthly employment report loomed. Unemployment currently stands at 9.5%, and that figure Friday is expected to creep up to 9.6% as U.S. employers drop another 110,000 people off the payrolls. "The recovery is stumbling along at this point," said Edmund Hyland, managing director and a global investment specialist for JPMorgan Private Bank's southeastern region. "It's been carried by strength in the corporate sector. What the market would like to see is that it starts to translate to jobs because consumers still account for a significant portion of GDP." Volume was weak, with about 3 billion shares having changed hands in NYSE Composite trading with less than an hour to go in trading. The 2010 daily average is about 5 billion shares, although the August average was just over 4 billion shares. The Dow traded in a tight range of just over 50 points throughout the day. The euro edged up to $1.2812, from $1.2803 late Wednesday, after the European Central Bank kept its benchmark interest rate unchanged at a record low 1%, as expected. ECB President Jean-Claude Trichet said the ECB would extend its tool box of additional bank funding on a "full allotment" basis, citing continued uncertainties in the economy. Treasurys were mixed, with an increase in the two-year note pushing its yield down to 0.50% while a decline in the 10-year note lifted its yield up to 2.63%. Crude-oil futures edged up to nearly $75 a barrel, while gold futures also advanced. Among stocks in focus, Burger King Holdings (BKC) soared 25% to $23.50 as the fast-food chain confirmed that 3G Capital has signed a deal to buy the company for $24 a share. Meanwhile, computer maker Dell (DELL) withdrew from the bidding war for 3PAR, surrendering the storage maker to rival Hewlett-Packard (HPQ) after the tech giant lifted its offer to $2.1 billion. 3Par (PAR), which makes storage products used in cloud computing, accepted H-P's offer, valuing the company at $33 a share. H-P edged up 0.7%, while Dell rose 1.8% and 3PAR climbed 2.4% to $32.87.

Stock News for Burger King Holdings (BKC)
No Recent News Available

Burger King Holdings and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations