Index leaves Dow Jones far behind

Tuesday, 26 October 2010

Tracing what starts to appear to be a trading pattern, the FashionUnited Top 100 has started the week strengthening its position. The index closed on Tuesday at 1209.62, upgrading by 16.97 points after another climbing the previous day, when it reached 1192.65 points. The difference with other indexes was especially remarkable with the Dow Jones, which closed yesterday at 1116.40 points, nearly 100 below the last trade of the FashionUnited Top 100.

As Jones Apparel Group Inc. is preparing to announce a profit of 62 cents per share later today, which has already been priced into the value of the stock, investors will also be evaluating other stocks in the apparel stores industry to see if any of the same factors that are influencing JNY may also come to bear on those stocks.

Regarding Under Armour, which just released its last quarter's figures, the athletic clothing firm lost 3.21%, entering the five worst performances of the day. The USA based firm yesterday announced financial results for the third quarter ended September 30, 2010. Net revenues increased 22% in the third quarter of 2010 to $328.6 million compared with net revenues of $269.5 million in the third quarter of 2009. Net income increased to $34.9 million in the third quarter of 2010 compared with $26.2 million in the prior year's period. Diluted earnings per share for the third quarter of 2010 were $0.68 on weighted average common shares outstanding of 51.2 million compared with $0.52 per share on weighted average common shares outstanding of 50.7 million in the third quarter of the prior year.

As the prologue of the week coming ahead, plagued with corporate results and providable trading echoes, Japanese companies listed in the FU Top 100 protagonized Tuesday's markets, being three of them among the best stocks of the day.

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