Home Wealth  Money Daily Wrap: November 15, 2011

Daily Wrap: November 15, 2011

Posted: Nov. 16th, 2011  |  By Forbes

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News out of Italy regarding a new government gave a boost to US stocks today, although trading was choppy throughout the day.

Better than expected economic news came in the form of retail sales that rose 0.5 percent in October, or 0.6 percent excluding auto sales, according to the Commerce Department.

Among the major retailers reporting earnings today were Walmart and Home Depot (nyse: HD - news - people ).

Walmart missed profit expectations for its fiscal third quarter, although net sales came out ahead of estimates. The world's largest retailer had its price target cut by S&P from $68 to $67.

Meanwhile, Home Depot posted an increase in third quarter earnings today, which beat expectations and also increased its full year earnings forecast. Oppenheimer raised its price target on the home improvement retailer from $41 to $47.

Also today, Staples (nasdaq: SPLS - news - people ) reported fiscal third quarter earnings that met expectations, while revenue fell short.

A big day for Research in Motion (nasdaq: RIMM - news - people ) , as it unveiled 2 new smartphones based on it's Blackberry 7 operating system. The company said the devices will be available around the world in the coming weeks.

Tomorrow, we'll take a look at weekly mortgage applications as well as more retail earnings from Target (nyse: TGT - news - people ) (TGT) and Limited Brands (nyse: LTD - news - people ) .

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