(By Balaseshan) U.S. stocks ended on a modestly higher note amid
upbeat economic figures and corporate results, even as heavyweights Apple (AAPL) and Amazon
(AMZN) reported lower than expected earnings.
The S&P 500 Index gained 0.28 percent to finish at 1,412.64.
The Dow Jones Industrial Average added 0.20 percent to end at 13,103.68.
The Nasdaq Composite Index rose 0.15 percent to close at 2,984.92.
U.K. economy rose by 1 percent in the third quarter after decreasing in
the three previous quarters, according to a report from the U.K. Office
for National Statistics.
On the U.S. economic front, durable-goods orders for September
increased 9.9 percent, sharply up from economists expectations of a 7.1 percent increase. New orders - excluding transportation - rose 2.0
percent, versus expectations of a 0.8 percent advance.
In August, orders for durable goods plunged 13.2 percent, led by a
near 84 percent severe drop in aircraft orders. New orders dropped 5.0
percent excluding transportation. Durable-goods orders measures the
change in the total value of new orders for long lasting manufactured
"A projected bounce in aircraft should account for nearly the entire
improvement in September durables goods orders. Excluding aircraft, we
expect orders to be up only modestly in the month (+1.0%); the core of
the report, the subcomponent officially known as nondefense capital
goods orders excluding aircraft is expected to rise by a similar
amount," Deutsche Bank said.
The number of Americans who continued to receive jobless benefits
fell last week as government data showed fewer than economists
expected. Jobless claims declined 23,000 to 369,000 for the week
ended Oct. 20 from a revised 392,000, while economists projected 370,000
Another report showed pending home sales unexpectedly declined 0.3
percent in September after a decline of 2.6 percent in August. Pending
home sales measure the change in the number of homes under contract to
be sold but still awaiting the closing transaction, excluding new
construction. Economists' expected pending home sales to increase 2.1
Hot Stocks Of The Day: SYNA, DECK, AAPL, AMZN, PSSI, ANGI, PG, BIIB, SPR, CROX, S
corporate news, Synaptics Inc. (NASDAQ: SYNA) jumped 14.22 percent in
the aftermarket after the company's first quarter results beat Street's
Deckers Outdoor Corp. (NASDAQ: DECK) plunged 15.64 percent in
the aftermarket after the company lowered guidance for the fourth quarter
and full year 2012.
Apple Inc. (NASDAQ: AAPL) reported quarterly
earnings that trailed market expectations. The technology giant, which
declared a quarterly dividend of $2.65 a share, guided the first-quarter
below market expectations.
Amazon.com Inc. (NASDAQ: AMZN) fell 6.02 percent in the aftermarket after the company's third quarter results missed consensus.
World Medical Inc. (NASDAQ: PSSI) jumped 32.36 percent after McKesson
Corp. (NYSE: MCK) agreed to acquire PSS World Medical for roughly $1.46
billion in cash.
Angie's List Inc. (NASDAQ:ANGI) climbed 24.86 percent after the company's better than expected third quarter results.
& Gamble Co. (NYSE: PG) gained 2.76 percent after the
consumer-products giant reported better than expected quarterly earnings
on benefits from cost savings and pricing.
Biogen Idec Inc. (NASDAQ: BIIB) rose 1.68 percent after the company
reported a 17 percent jump in quarterly earnings helped by double-digit sales
growth from its main products Avonex and Rituxan.
AeroSystems Holdings Inc. (NYSE: SPR) plunged more than 30 percent after
the company recognized third quarter charges of $590 million for
certain new programs, and announced settlement of severe weather related
Crocs Inc. (NASDAQ: CROX) dropped more than 20 percent after the
company's third quarter revenue missed consensus, and it guided the fourth
quarter below Street's view.
Cabelas Inc. (NYSE: CAB) tumbled more than 16 percent after the company's third quarter results missed Street expectations.
Sprint Nextel Corp. (NYSE: S) fell 1.78 percent after the company
posted a wider quarterly loss as an increase in operating expenses
offset revenue growth. Despite revenue missing the consensus, the loss was
narrower than Street expectations.
European markets closed on a
mixed note, with Germany's DAX adding 0.10 percent to close at 7,200.23.
France's CAC40 shed 0.44 percent to finish at 3,411.53. U.K.'s FTSE 100
rose 0.27 points to end at 5,805.05.
Asian markets closed slightly mixed, with China's Shanghai Stock
Exchange Composite Index down 0.68 percent to finish at 2,101.58.
Japan's Nikkei 225 advanced 1.13 percent to end at 9,055.20. Hong Kong's
Hang Seng Index rose 0.21 percent to close at 21,810.23. India's BSE
Sensex closed at 18,758.63, up 0.26 percent.
Commodity & Currency Scan
futures gained 0.51 percent to $86.17 per barrel, and natural gas
futures shed 0.67 percent to $3.427 per million metric British thermal
units. Gold futures rose 0.73 percent to $1,714.10 per ounce, and silver
futures climbed 1.82 percent to $32.195 per ounce.
In the currency market, the
euro dipped 0.24 percent against the U.S. dollar to 1.2943. The British
pound gained 0.52 percent against the greenback to 1.6122, while the
dollar rose 0.63 percent against the Japanese yen to 80.3000.