{"id":46824,"date":"2013-08-23T11:51:00","date_gmt":"2013-08-23T11:51:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-trim-gains-after-new-home-sales-data\/46822\/"},"modified":"2013-08-23T11:51:00","modified_gmt":"2013-08-23T11:51:00","slug":"stocks-trim-gains-after-new-home-sales-data","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stocks-trim-gains-after-new-home-sales-data\/46824\/","title":{"rendered":"Stocks Trim Gains After New Home Sales Data"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>Stocks shed early gains but remained in positive territory by mid-day trade on Friday despite a very tepid new-home sales data.<\/p>\n<p><span id=\"more-46824\"><\/span><\/p>\n<p>At last check, the <a href=\"https:\/\/thestockmarketwatch.com\/markets\/dowjones\/today.aspx\">Dow Jones<\/a> inched up 0.04%; the <a href=\"https:\/\/thestockmarketwatch.com\/markets\/nasdaq\/today.aspx\">NASDAQ<\/a> Composite Index edged up 0.23% while the <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> Index added 0.13%.<\/p>\n<p>The single-family home sales fell unexpectedly 13.4% to an annualized rate of 394,000 in July, a lowest level recorded in last nine months. Economists polled by Reuters had forecasted a fall of 1.4% to an annualized rate of 490,000. In June new home sales jumped 8.3%. Following the data release, homebuilders\u2019 stock came under pressure.<\/p>\n<p>Ann Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=ANN\" target=\"_blank\" rel=\"noopener\">NYSE: ANN<\/a>) reported 16% rise in net profit for the fiscal second quarter. Earnings comfortably beat Wall Street\u2019s estimate but revenue missed expectation. Same-store-sales rose 3.1% at Ann Taylor chain while to increased 2.5% at Loft. However, the Company provided downbeat guidance for the full-year fiscal.<\/p>\n<p>Shares of Dendreon Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=DNDN\" target=\"_blank\" rel=\"noopener\">NASDAQ: DNDN<\/a>) plunged nearly 7.50% by mid-day trading. Deutsche Bank downgraded the stock to \u201csell\u201d from \u201chold\u201d, citing concerns over its financial commitments.<\/p>\n<p>Shares of Guess Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GES\" target=\"_blank\" rel=\"noopener\">NYSE: GES<\/a>) edged down about 2.30% by mid-day trading. The apparel retailer\u2019s stock was downgraded to \u201cneutral\u201d by Piper Jaffray, citing a spate of weaker-than-expected results from several specialty retailers.<\/p>\n<p>Shares of Pandora Media Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=P\" target=\"_blank\" rel=\"noopener\">NYSE: P<\/a>) were hammered on Friday after the online radio company handed wider-than-expected loss for the fiscal second quarter, late on Thursday. The Company\u2019s guidance for the current quarter was also disappointing.<\/p>\n<p>Elsewhere in Europe, all leading averages were gaining with pan European Stoxx 600 up 0.30%, at last check.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-trim-gains-after-new-home-sales-data\/46824\" data-title=\"Stocks Trim Gains After New Home Sales Data\"><\/div>\n<p><script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130824224807js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> <\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-higher-21\/46831\"><br \/>\nStocks End Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-rally-after-weak-new-home-sales-data-silver-prices-also-rally\/46827\"><br \/>\nGold Prices Rally After Weak New Home Sales Data; Silver Prices Also Rally<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-trim-gains-after-new-home-sales-data\/46824\"><br \/>\nStocks Trim Gains After New Home Sales Data<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-edge-higher-in-early-trading-26\/46819\"><br \/>\nStocks Edge Higher in Early Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-inches-up\/46816\"><br \/>\nForex Market Update: Dollar Index Inches Up<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-edge-higher-14\/46812\"><br \/>\nGold and Silver Prices Edge Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-futures-flat-2\/46808\"><br \/>\nStocks Futures Flat<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130824224807im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script--><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Stocks shed early gains but remained in positive territory by mid-day trade on Friday despite a very tepid new-home sales [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3439],"tags":[1304,1352,1821,3402],"class_list":["post-46824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-ann","tag-dndn","tag-approaching-congestion-resistance-near-all-time-highs-of-the-secular-bull-market-from-early-last-decade-the-index-has-been-effectively-confined-to-a-trading-range-between-1","tag-1-rated-penny-stock-newsletter"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/46824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=46824"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/46824\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=46824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=46824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=46824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}