TIF - Stock Market News: Tiffany Sparkles but Brown-Forman Looks Hungover
The stock market saw another volatile open on Wednesday morning as major benchmarks rebounded from initial losses to climb toward better levels. As of 11:20 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 118 points to 25,896. The S&P 500 (SNPINDEX: ^GSPC) gained 9 points to 2,878, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) climbed a single point to 7,827.
The bulk of companies have already announced their quarterly earnings for the most recent period, but a few stragglers are still getting market participants' attention. Tiffany (NYSE: TIF) managed to get good news from its jewelry business, but Brown-Forman (NYSE: BF-A) (NYSE: BF-B) left investors wanting a bit more after the spirits company's latest results.
Shares of Tiffany were higher by 4% Wednesday morning after the luxury jeweler reported its second-quarter financial results. High-end retailers have had to deal with tough times, and Tiffany was no exception, but investors were pleased to see that things weren't worse.