U.S. stocks ended on a mixed note amid growing hopes that European finance ministers will agree new bailout package for Greece on Monday.
S&P 500 Index gained 0.23 percent to finish at 1,361.23. The Dow Jones Industrial Average advanced 0.35 percent to end at 12,949.87. The Nasdaq Composite Index closed at 2,951.78, down 0.27 percent.
On the economic front, consumer price in U.S. rose less-than-forecast in the month of January. The consumer price index advanced 0.2 percent from 0.1 percent, but below economists' expectations of a 0.3 percent rise. Core inflation too increased 0.2 percent, yet below forecasts
Hot Stocks Of The Day: (GILD, HNZ, GIS, CPB, SPWR)
In corporate news, Gilead Sciences Inc. (NASDAQ: GILD) retreated 14.5 percent to end at $46.82 after the company announced results of a study of its treatment for hepatitis C. The drugmaker said the hepatitis C treatment may need additional direct acting antivirals to work.
H.J. Heinz Co. (NYSE:HNZ) gained 4.5 percent to close at $54.47 after the company posted stronger-than-forecast EPS for the third quarter, driven by accelerating growth in emerging markets and strong Ketchup sales. HNZ earned 95 cents a share, before items, versus consensus estimate of 86 cents. Sales advanced 7.2 percent to $2.92 billion, topping expectations of $2.89 billion. Organic sales grew nearly 20% at emerging markets.
General Mills Inc. (NYSE:GIS) retreated 3.6 percent to finish at $38.34 after the company slashed its fiscal 2012 EPS forecast, blaming weak volume performance across U.S. retail food categories. GIS also guided quarterly EPS below consensus.
Campbell Soup Co. (NYSE:CPB) advanced 2.6 percent to close at $32.90 after the food products company posted better-than-expected quarterly EPS, driven by sales gains at its Beverages business. CPB reported Q2 EPS of 64 cents, beating analysts' expectations of 62 cents. Sales were $2.112 billion, versus consensus estimate of $2.12 billion.
SunPower Corp. (NASDAQ: SPWR) spiked 8.6 percent to end at $8.13 after the company posted a surprise quarterly profit. The solar-panel maker earned 16 cents a share on an adjusted basis, versus consensus estimate of a loss of 5 cents. Adjusted revenue of $749 million beat expectations of $669.03 million.
Global Markets:
The European markets finished higher amid Greek hopes, with Germany's DAX gaining 1.42 percent to end at 6,848.03. France's CAC40 rallied 1.37 percent to close at 3,439.62. Britain's FTSE 100 advanced 0.33 percent to finish at 5,905.07.
In the Asian market, China's SSE Composite Index edged 0.06 percent higher to close at 2,358.16 and Hong Kong's Hang Seng gained 1.01 percent to close at 21,491.62. Japan's Nikkei 225 climbed 1.58 percent to end at 9,384.17. India's BSE 30 Sensex finished 0.75 percent higher at 18,289.35.
Market Scan:
Commodities closed the day on a mixed note with crude oil strengthening 1.19 percent to end at $103.53 per barrel, and natural gas price rallied 4.4 percent to close at $2.680 per million metric British thermal units. Gold lost 0.21 percent to $1,724.8 per ounce, and silver fell 0.45 percent to close at $33.220 per ounce.
In the currency market, the euro gained 0.18 percent against the U.S. dollar to $1.3153. The British pound rose 0.21 percent higher against the greenback, and the dollar advanced 0.68 percent against the Japanese yen to 79.4800.