| Apple's Blowout Earnings Ignite The Nasdaq Composite's Best Performance Of The Year. |
| Apr-25-2012 |
| Keywords: napolitano, testimony, prostitution scandal, secret service, security risk, aberration |
A blowout earnings report from Apple igniting a rally on Wall Street today, all three major U.S. stocks indexes finishing firmly in the red.
The Dow Jones Industrial Average gained 89 points, the S&P 500 rose 19 points, and the Nasdaq Composite soared 68 points, or 2.3%, it's best performance in 2012.
Apple, the world's largest publicly-traded company by market capitalization, soared nearly 9% on the day after posting blockbuster quarterly results. Apple earned $11.6 billion in the second quarter on sales of $39.2 billion, easily beating analysts' estimates.
Overall, the technology sector turned in the best performance of the day, followed by basic materials stocks.
The yield on the 10-year Treasury bond jumped 0.026-percentage point to 1.989% on renewed appetite for risk among investors.
Dow heavyweights Boeing and Caterpillar having polar opposite days on Wall Street. Boeing's stock jumped more than 5% following news of its solid quarterly results. Meanwhile, Caterpillar's weaker than expected sales sank the heavy equipment maker's stock down 4.5%.
Caterpillar posted first-quarter earnings of $2.37 a share on revenue of $15.98 billion. Analysts were looking for $2.13 a share on $16.22 billion. The world's biggest heavy machinery maker also said it expects to earn about $9.50 a share, 4¢ lower than analyst estimates. |
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Posted by Lou Dobbs Staff at 11:00 AM Email to a friend |
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