Market Wrap-Up for Feb.26 (NKE, WTW, GPS, QCOM, CF, COST, more)

in Gold Gold Investing by admin — February 26, 2010 2:11 pm | no comments

We wrapped up the last day of trading for the month of February and overall a decent month for the averages. Volume finished at 3.94 Billion shares on the NYSE and 2.14 Billion shares on the NASDAQ. The market is still kind of moving sideways out of the gate this year as investors are surprised as to the resilience in how the market has been able to hold up, despite the poor jobs situation in the U.S. We are a bit confused as well, but we are not looking to fight the tape, that’s for sure. We remain a bit cautious as we continue to march forward. We have not made any recommendation changes this week as we continue to monitor many possibilities. As for today’s action, Gap Inc. ( GPS ) did well following the company’s earnings results. On the other hand, Weight Watchers ( WTW ) got hit hard on that company’s results and outlook. Elsewhere, we did see some buying going on in shares like JP Morgan ( JPM ) , Family Dollar Stores ( FDO ) , CF Industries ( CF ) , and Nike ( NKE ) . There was a continuation of selling in dividend tech plays like Analog Devices ( ADI ) and Qualcomm ( QCOM ) . Looking ahead to next week, more retail results are expected from the likes of PetSmart ( PETM ) , Costco ( COST ) , Staples ( SPLS ) and others. Have a great weekend everybody and be sure