Midway through trading Tuesday, the Dow traded up 1.13 percent
to 15,476.02, while the NASDAQ rose 1.30 percent to 3,504.18. The
S&P was also up, rising 1.07 percent to 1,667.27.
Top Headline Tiffany & Co (NYSE:
) reported a rise in its first-quarter profit.
Tiffany's quarterly profit surged to $83.58 million, or $0.65
per share, versus $81.53 million, or $0.64 per share, in the
year-ago period. Its adjusted earnings came in at $0.70 per
Its revenue increased to $895.48 million from $819.17 million.
However, analysts were estimating earnings of $0.53 per share on
revenue of $855 million.
Tiffany maintained its full-year earnings forecast of $3.43 to
$3.53 per share. Equities Trading UP Valeant Pharmaceuticals
) shot up, gaining 7.64 percent to $90.93, after the company
announced its plans to buy Bausch + Lomb for $8.7 billion.
MAKO Surgical (NASDAQ:
) was also up 10.49 percent to $12.40, after Wells Fargo upgraded
the stock from "market perform" to "outperform."
) got a boost, shooting up 20.14 percent to $8.53 after American
Realty Capital Properties (NASDAQ:
) announced its plans to acquire CapLease for $2.2 billion.
Equities Trading DOWN Exelon (NYSE:
) was down, falling 7.24 percent to $32.14, after Deutsche Bank
downgraded the stock from "buy" to "hold."
Dole Food Company (NYSE:
) shares tumbled 6.19 percent to $10.38 after the company
announced update of owned vessel fleet.
) was down 6.64 percent to $39.78 after Credit Suisse downgraded
the stock from "outperform" to "neutral."
Commodities In commodity news, oil traded up 1.42 percent to
$95.59, while gold dropped 0.13 percent to $1,390.00.
Silver traded down 0.55 percent Tuesday to $22.39, while
copper rose 0.33 percent to $3.32.
Eurozone European shares were higher for the second
consecutive day as U.K. markets reopened Tuesday following a bank
holiday on Monday. The Spanish Ibex Index rose 1.84 percent and
the Italian FTSE MIB Index gained 2.02 percent. Meanwhile, the
German DAX rose 1.29 percent and the French CAC 40 climbed 1.39
percent while U.K. shares surged 1.81 percent.
Economics The S&P/Case-Shiller home-price index surged
1.4% in March.
The consumer confidence index surged to 76.2 in May, versus a
revised reading of 69.0 in April, according to the Conference
Board. However, economists were expecting the index to increase
to 72.3 in May.
The Richmond Fed Manufacturing Index rose to -2.00 in May,
versus a prior reading of -6.00. However, economists were
expecting a reading of -4.00 in May.
The Dallas Fed general business activity index rose to -10.5
in May, versus a reading of -15.6 in April.
The Treasury is set to auction 2-year notes.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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