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Stocks closed lower Thursday, after the Dow and S&P 500 briefly touched fresh all-time highs. Meanwhile, the U.S. dollar rose above the key threshold of 100 yen for the first time since April 2009.
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Many top U.S. retailers reported strong January sales after offering compelling merchandise that drew in shoppers facing a hit to their take-home pay from higher payroll taxes.
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Costco Wholesale Corp said January sales at stores open at least a year, or same-store sales, rose 4 percent, slightly ahead of Wall Street projections for a 3.9 percent gain. Other retailers reporting stronger-than-expected sales were the teen-oriented Zumiez Inc, which raised its profit forecast, and department store chain Stage Stores Inc..
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The apparel maker has recently received both an upgrade and downgrade, so here's where Jim Cramer fits in.
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Check out which companies are making headlines after the bell Tuesday.
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Check out which companies are making headlines after the bell Thursday:
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*Same-store sales at Target, Gap, Macy's miss expectations. Nov 29- Leading U.S. retailers said weak sales in early November, when people in the Northeast were cleaning up after superstorm Sandy, dragged down results for the month, despite brisk activity over the long Thanksgiving weekend.
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*Same-store sales at Target, Gap, Macy's miss expectations. Nov 29- Weak sales at leading U.S. retailers in early November dragged down their results for the month as the effects of major Northeast storms offset brisk activity over the long Thanksgiving weekend.
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Bon-Ton Stores Inc. 3.7 pct. Stage Stores Inc. 6.5 pct. Costco Wholesale Corp. 7 pct.
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A handful of U.S. retailers expect the massive storm that hit the U.S. East Coast this week to hurt sales in November, while overall holiday sales should still show the slow growth that was forecast before Sandy hit.
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SYDNEY, Oct 12- Private equity firm TPG has withdrawn a A $694 million takeover bid for Australian surfwear retailer Billabong International Ltd, the second bidder to exit after inspecting its books, knocking the stock to a record low. The TPG withdrawal is a big negative for the stock, "said Stan Shamu, market strategist at IG Markets.
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The Buckle Inc. -0.8 pct. Ross Stores Inc. 5 pct. Stein Mart Inc. 2.4 pct.
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*Macy's, Target sales miss analysts' forecasts. Retailers including Costco Wholesale Corp, Victoria's Secret operator Limited Brands Inc and teen chain Zumiez Inc posted bigger-than-expected gains in September sales at stores open at least a year. Target Corp and Macy's Inc posted same-store sales increases that missed analysts' expectations.
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*Sales from Costco, Limited, Zumiez top expectations. Retailers including Costco Wholesale Corp and Victoria's Secret operator Limited Brands Inc posted bigger-than-expected gains in September sales at stores open at least a year.
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By Miranda Maxwell MELBOURNE, Oct 4- TPG Capital Management LP's. $700 million bid for Billabong International Ltd. Shares in Billabong fell as much as 23 percent to A $1.015, their lowest in more than three months, and last traded down 18.3 percent at A $1.075 before being placed on a trading halt.
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MELBOURNE, Oct 4- Australia's Billabong International Ltd lost almost a quarter of its market value after a report said the last remaining bidder, private equity firm TPG Capital Management LP, might follow former suitors and ditch its takeover offer for the surfwear retailer.
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The Nasdaq Composite Index added 14.98 points, or 0.48 percent, to 3,128.51. **ARQULE INC $2.14, down 57.73 pct The biotechnology company and Japan's Daiichi Sankyo Co Ltd. **SIRIUS XM RADIO INC, $2.62, up 2 pct.
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S&P 500 futures rose 7.7 points, Dow Jones industrial average futures rose 23 points, and Nasdaq 100 futures. The biotechnology company and Japan's Daiichi Sankyo Co Ltd. CNBC Mad Money host Jim Cramer said the Internet company has "real value because it has some really terrific assets", and new Chief Executive Marissa Mayer is committed to unlocking its value.
