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Market Wrap: Caterpillar Claws Back; Toyota Back on Top; Herbalife Under Pressure

January 28, 2013 5:28 PM EST Send to a Friend
Market wrap-up for January 29th

End of the Day: S&P 500 down 2.8 to 1,500.18; Dow Jones down 14.1 to 13,881.93; Nasdaq up 4.6 to 3,154.30

The following is a brief summary of events moving markets today:

* President Obama's appointments to the National Labor Relations Board (NLRB) in 2012 were deemed unconstitutional due to Congress not being in recess at the time. The U.S. Court of Appeals in Washington said that appointments could only be made while Senate was adjourned.

Presidents as far back as James Madison have made appointments in a similar fashion, meaning the current case would be a landmark one.

* Caterpillar (NYSE: CAT) was positive on the session Monday following fourth-quarter 2012 results. Adjusted EPS of $1.91 and revs of $16.08 billion compared with the EPS consensus of $1.91 and revs of $16.2 billion. For more color on the numbers, click here.

* Yahoo! (Nasdaq: YHOO) shares were up in after-hours trading Monday following strong fourth-quarter results. Adjusted EPS of 32 cents and revs of $1.22 billion compared with consensus EPS estimates of 28 cents and revs of $1.21 billion. Display revs fell 5 percent to $520 million, ex-TAC, while ads sales on core Yahoo! Properties fell 10 percent year-over-year, but gained 3 percent from the prior quarter. For more color on the numbers, click here.

* Herbalife (NYSE: HLF) shares were pressured heading into an FTC call Monday afternoon. The call was going to be able charging a company over multi-level marketing practices, though the company ended up being Fortune Hi-Tech Marketing rather than Herbalife.

* Durable goods orders rose 4.6 percent in December, adding on to a 0.8 percent gain in the prior month. The Street was looking for a gain of just 1.6 percent in the month. Click here for more color on the data.

* Pending home sales index fell 4.3 percent to 101.7, according to the National Association of Realtors (NAR). The number was up 6.9 percent over December 2011. The NAR notes that a level of 100 is considered a "healthy" level for sales. Click here for more color.

* Toyota (NYSE: TM) retook the top-spot as largest auto company from General Motors (NYSE: GM) today. The Japanese automaker reported deliveries of 9.75 million units in 2012, versus 9.29 million at GM and 9.07 million for Volkswagen. For more color on the data, click here.

* The Fed released a series of scenarios that it could use to test banks' wherewithal under "adverse and severely adverse" market conditions. Results will be released by the Fed on March 7th, with information on whether banks will be able to declare dividends or need to raise capital to be released on March 14th.

Banks included in the new round include Bank of America Corp. (NYSE: BAC), Citigroup Inc. (NYSE: C), Goldman Sachs Group Inc. (NYSE: GS), JPMorgan Chase & Co. (NYSE: JPM), Morgan Stanley (NYSE: MS), and Wells Fargo & Co. (NYSE: WFC).

* The Securities and Exchange Commission charged Jesse Litvak, a former executive at New York-based broker-dealer Jefferies & Co., with defrauding investors while selling mortgage-backed securities (MBS) in the wake of the financial crisis so he could generate additional revenue for his firm. The news comes as the agency is looking for more and more way to crack down on those who skirt regulations for profits. For more color on the allegations, click here.

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