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Greece's Approach Encourages Markets, Industrial Sector Rises

 June 30, 2011 06:00 PM
 


The US stock indexes closed June's trading on a positive note as Greece get set to adopt austerity measures to curb debt crisis and jobless claims decline in the country.

The Dow Jones industrial average added 1.25 percent or 152.92 points to end at 12,414.34. The Nasdaq Stock Market Inc. composite index gained 1.21 percent or 33.03 points to finish at 2,773.52. The Standard & Poor's 500 index was up 1.01 percent or 13.23 points to close at 1,320.64. Among other major indices, the New York Stock Exchange composite index gained 1.10 percent or 90.60 points to end at 8,319.10, and the American Stock Exchange composite index added 1.37 percent or 31.63 points to finish the day at 2,343.87.

Hot Stocks of the Day: HBC, LMT, VOD, R, OPTT, APOL

[Related -Apollo Education Group Inc (NASDAQ:APOL) Q1 Earnings Preview: A Top Versus Bottom Line Battle]

HSBC Holdings Plc (NYSE: HBC) plans to cut nearly 700 jobs from its retail banking operations in the UK, ahead of a regulatory reforms that are set to affect the domestic industry's advisory business. Shares added 0.65 percent or 32 cents to close at $49.62.

Lockheed Martin Corp. (NYSE:LMT) intends to cut 1,500 jobs in its aeronautics operations in order to hold down costs. Shares added 0.75 percent or 60 cents to end at $80.97.

[Related -Harmonic Inc (HLIT): Profit From The Rise Of Mobile Video With This Stock]

Vodafone Group Plc (Nasdaq: VOD) expects to receive an annual dividend of as much as $5.5 billion from its 45 percent stake in the US venture Verizon Wireless. Shares were down 0.15 percent or 4 cents to close at $26.72.

Ryder System, Inc. (NYSE: R) entered into a lease agreement for 87 heavy-duty natural gas trucks with customers. Shares added 3.36 percent or $1.85 to end at $56.85.

Ocean Power Technologies, Inc. (Nasdaq: OPTT) announced that its first utility-scale PowerBuoy device, the PB150 has produced better-than-expected results from tests of the Scottish coast. Shares added 2.59 percent or 9 cents to close at $3.57.

Apollo Group, Inc. (Nasdaq: APOL) reported an increase in its fiscal third quarter profit to $212.4 million, or $1.51 per share, up from $179.3 million, or $1.18 per share a year earlier. Analysts had forecasted earnings of $1.33 per share for the company. Shares added 1.53 percent or 66 cents to end at $43.68.


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