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Stocks End Flat On Earnings, Data; Edwards Lifesciences (EW) Tumbles

 April 24, 2013 04:22 PM
 


(By Balachander) U.S. stocks ended on a flat note as a mixed batch of corporate earnings reports and a downbeat data on durable-goods weighed on the sentiment.

The S&P 500 Index ended flat at 1,578.79. The Dow Jones Industrial Average fell 0.29 percent to finish at 14,676.30. The Nasdaq Composite Index inched up 0.01 percent to close at 3,269.65.

Durable-goods orders for March slumped 5.7 percent, worse than economists expectations of a drop of 2.8 percent. New orders - excluding transportation - also fell 1.4 percent, while expectations were for a 0.5 percent rise. Durable-goods orders measures the change in the total value of new orders for long lasting manufactured goods. 

Hot Stocks Of The Day: PG, T, AMGN, BA, VMW, YUM, BRCM, JNPR, EW, UIS, IRBT

[Related -United States Steel Corporation (X): Small Insider Buy, Big Rewards?]

Procter & Gamble Co. (NYSE: PG) dropped 5.88 percent after the consumer products company forecast fourth quarter earnings that missed Wall Street projections.

AT&T Inc. (NYSE: T) lost 5.03 percent after the Dallas, Texas-based posted lower quarterly revenue that also missed market expectations and reported a loss of cellphone subscribers.

[Related -T-Mobile US Inc (NYSE:TMUS): AT&T Inc.(NYSE:T) Could Suffer In Wireless War]

Amgen Inc. (NASDAQ: AMGN) slumped 6.94 percent after the biotechnology company reported weaker-than-expected revenue for the first quarter.

Boeing Co. (NYSE: BA) rose 3.01 percent after the aerospace giant reported an increase in quarterly earnings as productivity gains drove strong core operating performance.

VMware Inc. (NYSE: VMW) retreated 5.90 percent after the provider of virtualization infrastructure services forecast second-quarter revenue below market expectations following a 9 percent drop in first-quarter earnings.

Yum! Brands Inc. (NYSE: YUM) rose 7.01 percent after the parent company of Taco Bell, KFC and Pizza Hut posted stronger-than-forecast earnings for the first quarter.

Broadcom Corp. (NASDAQ: BRCM) gained 6.38 percent after the chipmaker issued an upbeat revenue outlook for the second quarter following better-than-expected first-quarter results.

Juniper Networks Inc. (NYSE: JNPR) declined 9.62 percent after the company guided quarterly earnings that fell short of consensus, saying it expects continued weakness in the enterprise customer spending environment.

Edwards Lifesciences Corp. (NYSE: EW) plunged 21.99 percent after the developer of heart valve products slashed its earnings and sales forecast for the full year following weaker-than-expected first quarter profit.

Unisys Corp. (NYSE: UIS) plunged 19.93 percent after the information technology (IT) company posted a quarterly loss for the first quarter as revenue fell 13 percent on lower systems integration and technology revenue.

iRobot Corp. (NASDAQ: IRBT) spiked 13.71 percent after the provider of robotic technology reported first-quarter results that beat Wall Street projections. 

Global Markets

European markets closed higher, with Germany's DAX rallying 1.32 percent to close at 7,759.03. France's CAC40 finished 1.58 percent higher at 3,842.94. The U.K.'s FTSE 100 rose 0.40 percent to end at 6,431.76.

Among Asian markets, the Shanghai Composite Index rose 1.55 percent to end at $2,218.32. Japan's Nikkei 225 added 2.32 percent to finish at 13,843.46. Hong Kong's Hang Seng Index gained 1.73 percent to close at 22,183.05. India's BSE Sensex finished at 19,179.36, up 0.05 percent.   

Commodity & Currency Scan

Crude oil futures gained 2.66 percent to $91.55 per barrel while natural gas futures fell 1.49 percent to $4.18 per million metric British thermal units. Gold futures rose 1.38 percent to $1,428.30 per ounce and silver futures added 0.94 percent to $23.08 per ounce.

In the currency market, the euro advanced 0.14 percent against the U.S. dollar to 1.3014. The British pound added 0.17 percent against the greenback to 1.5266, while the dollar inched up 0.05 percent against the Japanese yen to 99.5300.

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