Join        Login             Stock Quote

U.S. Stocks Rally On Earnings, Easing Spain Worries; Hot Stocks: IBM, INTC, YHOO, GS, JNJ, KO, STX, CMA

 April 17, 2012 04:53 PM

(By Balachander) U.S. stocks rallied, closing on a sharply higher note, buoyed by strong quarterly results from a number of major companies and positive news from Europe.

S&P 500 Index gained 1.55 percent to finish at 1,390.78. The Dow Jones Industrial Average added 1.50 percent to end at 13,115.54. The Nasdaq Composite Index closed at 3,042.82, up 1.82 percent.

On the economic front, U.S. housing starts declined 5.8 percent in March to 654,000 but building permits grew 1.1 percent to 747,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development. Economists expected housing starts of 700,000 and building permits of 713,000. In February, housing starts and building permits came in at 698,000 and 717,000, respectively.

[Related -Gold hasn’t lost its allure in my portfolio]

On the European front, yields on 10-year Spanish government bonds eased below 6 percent after Spain sold 3.2 billion euros ($4.2 billion) in short-term debt, above maximum planned target range of 2 billion euros to 3 billion euros. Another data showed that German economic sentiment unexpectedly improved to 23.4 in April from 22.3 in March, versus expectations of a drop to 19.0.

Hot Stocks Of The Day: (IBM, INTC, YHOO, GS, JNJ, KO, STX, CMA)

In corporate news, International Business Machines Corp. (NYSE:IBM) posted quarterly revenue that trailed consensus estimates, dragging its shares 1.94 percent lower in aftermarket trading. 

Yahoo! Inc. (Nasdaq:YHOO) delivered better-than-expected quarterly earnings and revenue, sending its shares 2.53 percent higher in extended trading.

[Related -International Business Machines Corp. (IBM): What To Watch In Q3 Results?]

Intel Corp. (NASDAQ:INTC) retreated 2.46 percent in extended trading after the company reported a drop in quarterly earnings, hit by flat revenue and jump in expenses.

Seagate Technology Plc (Nasdaq:STX) added 2.15 percent, Stryker Corp. (NYSE:SYK) advanced 1.99 percent and CSX Corp. (NYSE:CSX) rose 2.81 percent in aftermarket trading, following their earnings reports.

Goldman Sachs Group Inc. (NYSE:GS) shares were volatile after the bank reported a fall in revenue for the first quarter as investment banking revenue declined though earnings more than doubled from last year.

Next Page >>12
iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageLong-term Relationships and Credit Scores

Unlike many commentators, I tend to think credit scores are a good read on...

article imageIn Defense Of Rolling Return Charts

Robeco’s Lukas Daalder has a bit of an issue with rolling-performance graphics. Bashing a recent chart of read on...

article imageThe S&P 500’s Worrisome Downturn In Drawdown

Last Friday I reviewed some of the bearish signals that were casting dark shadows across the US stock read on...

article imageADP: Private-Sector Employment Rises A Solid 200k In September

The pace of growth for private-sector employment picked up in September, according to this morning’s ADP read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.