Stocks again advanced Tuesday, overcoming somewhat disappointing
data on housing and consumer attitudes following another batch of
strong earnings results. Advances were broad-based, with eight of
the 10 industry sectors in the S&P 500 finishing in the black,
led by shares of financial companies. Materials and mining stocks
brushed aside declining metal prices today to also post solid
Consumer confidence declined slightly this month, the Conference
Board said today, although public attitudes about the U.S. economy
remain at their best levels in over six years. Worries over
employment prospects and business conditions knocked the index 1.6
points off its March reading, coming in with a 82.3 score for
April, with the number of people believing jobs are hard to get
rising to 32.5% this month from 31.4% during March.
The S&P/Case-Shiller index issued today found home prices in
the 20 largest U.S. cities were relatively stable during February
compared to the prior month, rising 0.8%. Compared to year-ago
levels, prices nationwide were up 12.9%, trailing a revised 13.7%
annual gain reported in Janaury and narrowly lagging the market
consensus looking for a 13% rise. Thirteen cities posted
Commodities were mixed. Crude oil for June delivery settled 21
cents higher at $101.05 per barrel while June natural gas was up 4
cents to $4.84 per 1 million BTU. June gold declined $2.80 to
$1,296.20 per ounce while July silver slipped 8 cents to finish at
$19.54 per ounce. July copper was off 2 cents, settling at $3.07
Here's where the U.S. markets stood at end-of-day:
Dow Jones Industrial Average up 86 points (+0.5%) at 16,535
S&P 500 up 9 points (+0.5%) at 1,878
Nasdaq Composite Index up 29 points (+0.7%) at 4,103
Hang Seng Index up 1.45%
Shanghai China Composite Index up 0.84%
FTSE 100 Index up 1.04%
(+) LMNX, Q1 EPS of $0.24, ex items, beats by $0.14 per share.
Revenue grows 6.4% over year-ago levels to $56.6 million, topping
Street view by around $1.15 mln. Re-affirms in-line Q2 revenue
(+) SGY, Encounters over 275 feet of net oil pay in three
separate sections of its new deepwater Cardona South No. 5 well in
the Mississippi Canyon of the Gulf of Mexico. SGY operates and owns
a 65% stake in the new well.
(+) IRWD, Q1 net loss of $0.38 per share beats Capital IQ
consensus by $0.04. Revenue soars 342.4% year over year to $14.6
mln, exceeding analyst estimates by around $6.57 mln.
(-) UCTT, Q1 adjusted earnings of $0.27 per share lags
expectations by $0.02. Revenue climbs 43.5% over last year to
$144.2 mln, beating estimates by about $6.77 mln. Lowers Q2
guidance. Roth downgrade to Neutral.
(-) COH, Reports Q3 net income of $0.68 per share, topping
estimates by $0.07 per share. Revenue falls 7.4% year over year to
$1.1 bln, lagging the Capital IQ consensus by around $20 mln.
(-) MERU, Q1 net loss of $0.23 per share was $0.04 wider than
analyst projections. Revenue declines 16.6% from same quarter last
year to $20.6 mln, missing Wall Street expectations by $1.42 mln.
Product revenue drops 23.1% year over year.