Stocks Climb; Dow Closes In On Record Streak With 11th New High

Stocks ended the week on a high note Friday, after a mixed performance on Thursday, and the Dow eked out yet another new high, it’s 11th straight record.

The Dow Jones Industrial Average rallied just before the close to end up 11.44 points, or 0.05%, to 20821.76, it’s third straight week of gains.  If it advances again on Monday, it will tie its 12-day winning streak that dates back to 1987.

The Hot Stock: Foot Locker Rises 9.4%

Foot Locker (FL) was the best performing stock in the S&P 500 on Friday, following its  fourth quarter results.

Foot Locker rose $6.43, or 9.4%, to $75.01, while the S&P 500 rose 3.53 points, or 0.15%, to 2367.34.

The Biggest Loser: Southwestern Energy Drops 12%

Southwestern Energy (SWN) slid to the bottom of the S&P 500 on Friday, on the heels of its fourth-quarter earnings.

Southwestern dropped $1, or 12%, to $7.35, while the S&P 500 rose 3.53 points, or 0.15%, to 2367.34. 

Ten Stocks That Still Look Cheap

As markets continue to rocket to new highs, investors may be wondering if there are any bargains left. Jefferies‘ Brian Abrahams and his team have some suggestions.

While major indexes are bumping up against all-time highs, Abrahams writes that the same can’t be said for all stocks, including some that he has a Buy rating on.

Valeant’s Ugly Earnings History May Repeat Itself

Wells Fargo’s David Maris and his team reiterated an Underperform rating and $10 to $13 valuation range on Valeant Pharmaceuticals (VRX) Friday, writing that the company’s 2017 might not be much better than its 2016.

Maris lowered his fourth-quarter earnings, but writes that the results are less important than the company’s longer-term deteriorating cash flow generation, high debt, and poor business trends. He expects the company to again say that 2017 will be stronger in the second-half of the year, much like it did in 2016. “We believe Valeant shares are overvalued at current levels and believe that despite Valeant wanting to talk about ‘new Valeant,’ its business trends and pricing-driven model remain ‘old Valeant.’”

Gap Slips As Full-Year Forecast Disappoints

Gap (GPS) is falling on Friday; although its fourth-quarter earnings were in-line with the company’s preannouncement, but investors were disappointed with its guidance.

Gap said it earned 51 cents a share in the quarter, in-line with analysts estimates and its preannouncement of 5o cents to 51 cents. Revenue rose 1% year over year to $4.43 billion, above the $4.39 consensus; it had forecast revenues of $4.43 billion to $4.4 billion earlier this month.

Restoration Hardware Soars; Guidance Should ‘Quell Fears’

Restoration Hardware parent RH (RH) is up more than 20% on Friday, following its strong fourth quarter guidance. 

RH said it expects to earn 68 cents in the quarter, at the high end of its previous forecast of 60 cents to 70 cents, and above the 65-cent consensus. It sees revenue of $590 million, compared to its prior guidance of $562 million to $592 million; analysts were looking for $584.7 million.

Foot Locker Jumps On Better-Than-Expected Q4 Earnings

Foot Locker (FL) is up nearly 7% on Friday, after its fourth quarter results.

The retailer said it earned $1.37 a share on revenue that rose 5.3%  year over year to $2.11 billion. Analysts were looking for earnings of $1.32 a share on revenue of $2.11 billion.

Nordstrom: Investors Cheer Upbeat Earnings, Shrug Off Light Forecast

Nordstrom (JWN) is higher on Friday, following its mixed fourth-quarter results.

The retailer said that it earned $1.27 per share, above the $1.15 analysts were expecting. Revenues rose 2.4% year/ over year to $4.24 billion, just shy of the $4.29 billon consensus.

Morning Movers: Nordstrom, Foot Locker Rise; Gap, Goldman Sachs Fall

Nordstrom (JWN) is up 2.2% following its fourth-quarter results, in which earnings were better than expected but revenue was light.

Gap (GPS) is down 1.1% on its fourth-quarter earnings, which were in line with its preannouncement, although its guidance came up short.

JCPenney (JCP) is down 2.6% after its fourth-quarter despite better-than-expected earnings and in-line revenue.

Foot Locker (FL) is up 3.5% following its fourth quarter results, in which EPS beat expectations and revenue was in line.

Restoration Hardware parent RH (RH) is up 14.3% on its better-than-expected fourth quarter guidance.

Herbalife (HLF) is down 2.1% after its fourth quarter beat expectations, but its forecast was light.

Transocean (RIG) is down 2% after Pareto Securities cut it to Sell.

Goldman Sachs (GS) is down 1.5% after Berenberg cut it to Sell.