Intel Earnings Bode Well For Friday’s Session, But Look Out for JPMorgan (BGG, WSM, ZZ, FPL, INTC, JPM, MNKD)

Stocks had a solid day, largely shrugging off lackluster economic data. Tomorrow could be a good day, as chip giant Intel (INTC) reported a great quarter after the bell. It looks like the type of report that could lift the whole market, but a solid report from JP Morgan (JPM), which reports in the morning, will be needed as well.

The Diabetes Stocks Index was the top performing tickerspy Index on the day, led by Mannkind Corp (MNKD) with a 17% gain.

Stocks rose on the day, with the Dow up 30 points to 10,711. The Nasdaq added 9 points to close at 2,317, while the S&P rose 3 points to 1,148. Oil slipped -26 cents to $79.39 a barrel, while gold climbed $7.20 to $1,144.00 an ounce.

A drop in December retail sales topped today’s economic headlines, as the Commerce Department reported a -0.3% decline for the month and a -0.2% drop ex-autos. Economists were expecting increases of 0.5% and 0.3%, respectively. Elsewhere, the Labor Department announced that weekly jobless claims rose by 11,000 to a seasonally adjusted 444,000. Economists had forecast an increase of 3,000.

In earnings news, engine maker Briggs & Stratton (BGG) reported a fiscal Q2 profit of $3.0 million, or 6 cents a share, down -6% from $3.2 million, or 6 cents a share, a year ago. Revenue fell -18% to $393.0 million. Analysts were looking for EPS of 6 cents on sales of $429.8 million. The company maintained its full-year guidance for EPS of between 80 cents to $1.01. The stock tumbled -7.1%.

Home goods retailer Williams-Sonoma (WSM) raised its Q4 outlook, citing stronger-than-expected holiday sales. For Q4, the company now anticipates posting adjusted EPS of 69-74 cents on revenue of $1.06-$1.08 billion. Previously, Williams-Sonoma had guided for EPS of 36-45 cents on sales of $970 million to $1.03 billion. Analysts were looking for EPS of 50 cents on sales of $1.03 billion. The stock fell -4.4%. Eight Pro investors counted the stock among their top-15 holdings at the start of Q4, while 54 tickerspy members included the stock in their portfolios.

Shares of Sealy (ZZ) fell -9.7% despite the mattress maker’s Q4 EPS topping estimates. For the period ended November 29th, the company earned $2.6 million, or 2 cents per share, versus a loss of -$41.4 million, or -45 cents per share, a year earlier. Revenue edged up 2% to $332.1 million. The results topped the consensus for EPS of 1 cent on sales of $309 million.

FPL Group (FPL) shares dipped -2.9% after the state of Florida rejected more than 99% of the utility’s rate hike requests. As a result, the company said it will immediately halt $10 billion in CapEx investment planned for the next five years. The company said the projects would have created an estimated 20,000 direct and indirect construction and related jobs over that time. Forty-one Pro investors counted the stock among their top-15 holdings at the start of Q4, while 330 tickerspy members included the stock in their portfolios.

Tags: BGG, FPL, INTC, JPM, MNKD, WSM, ZZ