Stocks Ended Mixed after Volatile Session

U.S. stocks gave up gains to close mixed on Tuesday as investors looked to a gathering of European leaders the next day, with concern about Europe overriding cheer that came with upbeat housing data. After a 71-point rise, the Dow Jones Industrial Average lost 1.67 points to close at 12,502.81. The S&P 500 was up 0.64 point at 1,316.63. The Nasdaq Composite declined 8.13 points to 2,839.08.

Apparel maker Guess Inc. (NYSE:GES) reported late Tuesday its fiscal 2013 first-quarter profit fell to $26.6 million, or 30 cents a share, from $42.7 million, or 46 cents a share, a year earlier. Revenue for the quarter fell 2% to $579 million.

Shares of Dell Inc. (NASDAQ:DELL) tumbled late Tuesday after the computer maker posted quarterly results that fell below expectations. The company reported a fiscal first-quarter profit of $635 million, or 36 cents a share, compared with a profit of $945 million or 49 cents a share for the year- earlier period. Revenue was $14.4 billion, down from $15 billion. Adjusted profit was 43 cents a share.

Click to Play  Facebook fumbles mobile strategySimon Constable talks to Spencer Ante on Facebook’s stumbles in the mobile sector, and George Stahl looks at preorders for unlocked Samsung Galaxy S III smartphone, which will set buyers back $800 apiece.






Leave a Reply