The US market rebounded on Tuesday to close on a healthy note amid a plethora of corporate announcements and a mixed economy data.
Dow Jones Industrial Average gained 0.67 percent or 81.13 points to 12,279.01, and Nasdaq Composite edged up 0.96 percent or 26.21 points to 2,756.89. The Standard and Poor's 500 added 0.71 percent or 9.25 points to 1,319.44. Among other major national indexes, NYSE Composite gained 0.59 percent or 48.86 points to 8,345.38, and AMEX Composite added 1.50 percent or 34.68 points to 2,344.99.
Hot Stocks of the Day: GPIC, LNDC, WLDN, ZZ, AMZN, BP
Gaming Partners International Corporation (NASDAQ: GPIC) reported revenue of $16.6 million, and net income of $1 million or 12 cents per share in its Q4. GPIC gained 1.30 percent or $0.09 to $6.99.
Landec Corporation (NASDAQ: LNDC) declared an increase of 26 percent in its Q3 revenue to $73.5 million. LNDC gained 3.91 percent or $0.24 to $6.38.
Willdan Group Inc (NASDAQ: WLDN) reported revenue of $19.9 million in its Q4. WLDN lost 2.20 percent or $0.10 to $4.40.
Sealy Corporation (NYSE: ZZ) declared a decrease in its Q1 net profit to $118.5 million. ZZ added 1.09 percent or $0.03 to $2.78.
Amazon.com Inc (NASDAQ: AMZN) added 3.11 percent or $5.27 to $174.62. The company is facing backlash from the music industry on its new Music Locker service.
BP Plc (NYSE: BP) lost 2.74 percent or $1.26 to $44.78 amid reports that the company's managers could face charges of manslaughter in the Gulf of Mexico oil spill.
Currency and Commodity
In the currency market, dollar gained 0.14 percent against euro, and 0.89 percent against the Japanese yen. Against the British pound, dollar gained 0.05 percent.
Commodities closed the day's trading on a mixed note today with grains adding 0.9 percent and softs losing 1.9 percent. The CRB Commodity index lost 0.24 percent and the DJ-UBS Commodity index fell 0.04 percent. Gold was down 0.27 percent to $1,416 per ounce and silver shed 0.2 percent to $36.98 an ounce. Oil gained 0.71 percent to $104.72, whereas, natural gas lost 3.6 percent to $4.27 per MMBtu.
The world market closed the day on a flat note The Stoxx Europe 600 index added 0.1 percent to 276.51 despite weakness in the banking sector. Great Britain's FTSE 100 added 0.47 percent to 5,932.17, and France's CAC 40 gained 0.27 percent to 3,987.80. However, Germany's DAX lost 0.06 percent to 6,934.44. In Asia, Japan's Nikkei 225 lost 0.21 percent to 9,459.08, and China's Shanghai Composite was down 0.86 percent to 2,958.43.
Telecommunication sector added 1.46 percent to emerge as the best performing sector for the second consecutive day. S&P Global Telecommunications ETF (AMEX: IXP) added 1.58 percent or $0.95 to $61.14, and DJ US Telecommunications (NYSEArca: IYZ) gained 0.69 percent or $0.16 to $23.50. Among major stocks, AT&T Inc (NYSE: T) gained 2.35 percent or $0.69 to $30.05, whereas Sprint Nextel Corporation lost 3.35 percent or $0.16 to $4.62.
The major gainer of the day was Technology Research Corporation (Nasdaq: TRCI), which jumped 38.87 percent or $1.99 to $7.11 amid reports that the company is set to be acquired by Coleman for nearly $51.5 million. The major loser was Horizon Lines Inc (NYSE: HRZ) that lost 47.57 percent or $1.47 to $1.62.