Join        Login             Stock Quote

U.S. Stocks End Higher After Apple Blowout Earnings; Hot Stocks: AAPL, CAT, BA, AFL, GLW, JNPR, CRAY

 April 25, 2012 04:25 PM

(By Balachander) U.S. stocks closed on a sharply higher note, as investors cheered strong corporate earnings, led by Apple. 

S&P 500 Index added 1.37 percent to finish at 1,390.70. The Dow Jones Industrial Average gained 0.69 percent to end at 13,090.95. The Nasdaq Composite Index closed at 3,029.63, climbing up 2.30 percent.

Markets gave a muted reaction to the policy statement from the Federal Reserve, which reiterated its promise to keep interest rates low at least through late 2014. The Fed said the economy has been expanding moderately and it expects economic growth to remain moderate over coming quarters and then to pick up gradually. Fed Chairman Ben Bernanke said the central bank remains prepared to take additional action if needed to strengthen the economy.

[Related -Google Inc (GOOG): Why Nest Labs Deal Is A Wakeup Call For Apple Inc.?]

On the economic data front, a report showed that durable goods orders for March dropped 4.2 percent, following a 1.9 percent rise in February. Excluding transportation, new orders dipped 1.1 percent. Economists expected a 2 percent rise in orders, and an increase of 0.6 percent, excluding transportation.

Hot Stocks Of The Day: AAPL, CAT, BA, AFL, GLW, JNPR, CRAY

In corporate news, Apple Inc. (Nasdaq: AAPL) jumped 8.87 percent after reporting stronger-than-expected quarterly earnings, helped by strong sales of iPhones and iPads. EPS nearly doubled to $12.30 from $6.40 as revenue soared 59 percent to $39.2 billion in the second quarter. The company's iPhone sales soared 88 percent to 35.1 million units, and iPad sales surged 151 percent to 11.8 million units.
Caterpillar Inc. (NYSE:CAT) lost 4.58 percent after the maker of earth-moving machinery quarterly revenue missed consensus. The company also earnings forecast that fell shy of market expectations. CAT expects sales in the developing countries will be lower than expected, with most of the weakness in China and Brazil.
Boeing Co. (NYSE:BA) advanced 5.29 percent after aerospace giant boosted its 2012 earnings forecast following better-than-expected quarterly results, driven by strong commercial airplane deliveries. BA now expects EPS in the range of $4.15 to $4.35 for 2012.

[Related -Intel Corporation (INTC) and 5 Other Stocks That Could Pop on Earnings This Week]


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 imageInitial Jobless Claims Rose Unexpectedly

Claims unexpectedly rose in the latest report through last weekend to breach 300,000 for the first time read on...

article imageAll Quiet on the Record High Front

What can we glean from the media’s lack of attention to the market’s recent record read on...

article imageThe Chip Maker Short Sellers Should Be Watching

Investing in semiconductor stocks is always tricky. Industry cycles can lead to bumps in the road for the read on...

article imageChicago Fed: US Economic Growth Slowed In October

The pace of US growth slowed more than expected in October, according to this morning’s update of the 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.