Leading the market’s growth yesterday was Men’s Warehouse Inc. (MW) at 19% ending the day up about 6 points. After hours MW continued to grow another 0.5%. MW’s 52-week low and high is 24.50 and 40.97 respectively. The specialty retailer of men’s suits and tuxedo rentals products in the US and Canada began to lose value this year when it missed on a third earnings estimate in a row, dropping the stock 20 points in June 2012. The CFO left in July. The stock then surged to a four month high after Q2 earnings results that were $0.06 cents higher than last year and $0.03 cents higher than estimates. Expect the stock to continue to rely on earnings for any movement.
Yesterday’s morning rage discussed Navistar International Corp (NAV | 23.97). The stock was one of the bigger movers yesterday, growing 17.44%. The stock moved on earnings Wednesday and yesterday seemed to connect to the new CEO’s statement to focus on returning to profitability while switching to different engines in order to meet EPA standards. Navistar’s expenditures have been high because of this switch, and they are expecting to report losses in the fourth quarter.
Look out for the employment situation report released by the labor department today at 8:30am EST. Employment situation is a set of labor market indicators based on household surveys. The prior level of unemployment and number of private payrolls were at 8.3% and 172k. The new levels are expected to sit around 8.3% and 134,000.