U.S. economic data released Tuesday has little impact on market prices as it was mostly in line or not too far away with market expectations. A report on retail sales showed a modest 0.2% rise in August, matching a forecast. However, a reading of business conditions in New York in September known as the Empire State manufacturing index was at its lowest level since 2009. August Industrial production fell 0.4% as expected and July business inventories rose a bit less than expected.
Among stocks under focus, shares of Alcoa inched 2.6% higher after the aluminum producer reached a new supply deal with Ford Motor Co. that will expand the car maker’s use of aluminum in its F-150 pickup truck and other vehicles. UPS surged 3.6% after announcing plans to hire between 90,000 and 95,000 seasonal employees to support the expected volume increase ahead of the holidays. FedEx too climbed 2.5% on the news.
SM Energy Co (NYSE:SM) increase 8.16% and closed at $38.98. The 52-week range for the stock is $18.21 and $89.41 and during the previous trading session the stock touched its highest price at $39.07. Its introductory price for the day was $36.78, with the overall traded volume of 1.96 million shares. SM Energy Co (NYSE:SM) an independent energy company, involves in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. It mainly has operations in the South Texas and Gulf Coast region, which focuses primarily on Eagle Ford shale program; Rocky Mountain region comprising the Bakken/Three Forks formations in the North Dakota portion of the Williston Basin; Permian region covering western Texas and southeastern New Mexico; and Mid-Continent region, which manages Haynesville and Woodford shale assets.
Joe’s Jeans Inc (NASDAQ:JOEZ) rose 23.63% and closed at $0.260. The 52-week range for the stock is $0.08 and $1.08 and during the previous trading session the stock touched its highest price at $0.27. Its introductory price for the day was $0.21, with the overall traded volume of 1.95 million shares. Joe’s Jeans Inc (NASDAQ:JOEZ) and RG Parent LLC formerly declared two transformative transactions. First, the Company has agreed to sell the Joe’s brand and operating assets for an aggregate purchase price of $80 million to two separate buyers, Sequential Brands Group Inc. and Global Brands Group Holding Limited. Proceeds from the transactions will be used to retire certain outstanding indebtedness, including all indebtedness owed to the Company’s senior term loan lender. The closings of the asset sale transactions are subject to satisfaction or waiver of certain conditions, including the simultaneous closings of both asset sales. It is anticipated that the asset sale transactions will close by 30, September 2015.
MaxLinear, Inc. (NYSE:MXL) gaining 16.04% and closed at $12.01 on a traded volume of 1.94 million shares, in comparison to 520,580.00 shares of average trading volume. The company has a total market capitalization of $ 623.48M. MaxLinear, Inc. (NYSE:MXL) a foremost provider of integrated radio frequency (RF) and mixed-signal integrated circuits for broadband communications applications, and Wistron NeWeb Corp. (WNC), an industry leader in the design and manufacturing of advanced wireless communication products, previously declared that Sky Italia will begin deployment of a new digital channel stacking low noise block (LNB) downconverter based on the industry-leading MxL803 Ku-band satellite down-conversion RF IC and MxL862 channel-stacking system on chip (SoC).