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Dow Hits Another Record, Costco and Cabelas Climb, BlackBerry Gets Stomped

Dan Berman
Hot Stock Minute

It was a nail-biter at the close Tuesday as the Dow Jones Industrial Average numbers were shaking out and investors were waiting to see if the blue-chip index had hit yet another record high. And as the dust settled, the Dow was up 2.77 points for the trading day, closing at 14,449.48 and capping an eighth straight day of gains (and a sixth day of record closings). This is after a session spent largely in the red for the Dow.

The S&P 500 closed down around 3 points for the day, snapping its seven-day winning streak at 1,552.48, still very close to its all-time closing high of 1,565.15. The Nasdaq also ended down for the day, shaving off 10 points and closing at 3,242.42.

As for individual stocks, call it a wholesale beat for Costco (COST). The club retailer saw its shares rise on a stronger-than-expected earnings report. Costco says its net income rose 39% for the quarter which ended February 17th. The company earned $547 million, or $1.24 per share. Costco says revenue from its membership fees increased about 15% to to $528 million. Money made at stores open at least a year rose 5% in the U.S. and 6% internationally. Shares ended up 1.28% for the day.

Outdoor superstore Cabelas (CAB) is catching more in its net than previously expected. Shares jumped close to 12% on news that the chain expects to top first-quarter estimates. Cabelas says is expects to beat the consensus of 46-cents a share by 10 to 15 cents. The company is calling for comparable-store sales to increase by the high teens if not more. It cites an increase in demand for firearms. Just yesterday Cabelas competitor Dick's Sporting Goods (DKS) dropped on news that it missed earnings estimates. But today it rose again on a number of upgrades, ending the session with a close to 5% increase.

How quickly things spoil. BlackBerry (BBRY), which skyrocketed 14% Monday, gave back some of its gains Tuesday, ending down close to 3%. BlackBerry's rise was pegged to two different events: First, AT&T's (T) plan to begin taking pre-orders Tuesday of the new Z10 smartphone. Also, comments from the CEO of China's Lenovo that he might want to acquire the company. The Z10 has been labeled by many as BlackBerry's last chance of survival.

Yum (YUM) brands posted healthy gains today after reporting a 2% rise in same-store-sales throughout China in February. Expectations had been for a decline of almost 9%. Yum doesn't usually report monthly sales, but wants to signal that it has started a turnaround. The company has been near the bottom of its trading range since December, when a chemical residue was found in part of its chicken supply in China.

The maker of the Roomba cleaned-up today. Shares of iRobot (IRBT) were up as much as 10% and closed up around 5%. The company says it expects to post first quarter earnings of 16 to 20-cents a share, beating current estimates. iRobot is tying the increase to results not only in its home robot business, but also defense and security bots. In addition to creating crawling vacuums, the company makes artificial intelligence devices, many of which are used by police departments.