8-28-13 10:06 AM EDT | Email Article

By Sue Chang and Saumya Vaishampayan, MarketWatch


SAN FRANCISCO (MarketWatch) -- Stocks of natural-resources companies like Marathon Oil Corp. and Newmont Mining Corp. gained on Wednesday as jitters over Syria elevated prices of oil and gold.




Express Inc. (EXPR) shares jumped 11%. The retailer's second-quarter profit rose to $16.9 million, or 20 cents a share, from $15.8 million, or 18 cents a share, in the year-ago period. Same-store sales gained 6% and Express projects 2013 per-share earnings of $1.52 to $1.60, an increase from earlier expectations.


Marathon Oil Corp. (MRO) shares rose 2.2%, topping the S&P 500. Oil prices have been steadily rising, fueled by fears of military action against Syria. U.S. crude oil for October delivery (CLV3) was up $1.39, or 1.3%, to $110.40 a barrel.


Newmont Mining (NEM) shares rose 1.4%. Gold remained firm on safe-haven demand, spurred on by Syria woes with gold for December delivery (GCZ3) edging up 0.2% to $1,422.40 an ounce.




Joy Global Inc. (JOY) shares fell 5.3%. The mining-equipment and services company posted a fiscal third-quarter profit that dropped 5.3% as sales decreased 4.9%. The company received approval for a share-buyback plan of $1 billion.


Tiffany & Co. (TIF) shares shed 2.1%. Tiffany's on Tuesday said its second-quarter results beat Wall Street's expectations, but it still released a cautious outlook for the year.


Top Tickers Trending


$SCHW: Shares of Charles Schwab Corp. (SCHW) recovered from premarket losses to rise fractionally. A court has ruled that the brokerage firm is subject to face a 2009 lawsuit brought by the state attorney general's office, according to media reports. The lawsuit accused the firm of falsely marketing auction-rate securities.

-Sue Chang; 415-439-6400; AskNewswires@dowjones.com


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08-28-13 1006ET

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Morningstar - - UPDATE: Wednesday movers: Syria props up Marathon, Newmont
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