Several companies reported quarterly earnings today and
yesterday that beat analysts' estimates, helping stocks move
higher. Plus, initial weekly unemployment claims decreased last
(INDEXDJX:.DJI) increased 0.46% to 14,743.37. The
(INDEXSP:.INX) climbed 0.60% to 1,588.28, and the
(INDEXNASDAQ:.IXIC) rose 0.78% to 3,295.23.
The Department of Labor reported today that seasonally adjusted
initial jobless claims decreased 16,000 week-over-week for the week
ending April 20. The four-week moving average fell 4,500 to
357,000. For the week ending April 13, continuing jobless claims
decreased 93,000 to 3,000,000. The four-week moving average dipped
17,500 to 3,071,750. Read the full report
The Federal Reserve Bank of Kansas City reported today in its
Manufacturing Survey for the Federal Reserve's 10th District that
the composite index remained at -5 in April, indicating that
manufacturing activity declined at the same pace as in March. Last
year, April's reading was -6. Read the full report
Bloomberg reported today that its Consumer Comfort Index decreased
0.7 week-over-week to -29.9 for the week ending April 21. The
personal finance component of the index reached 3.5, its highest
reading in ten months. Read the press release
The US Energy Information Administration, or EIA, reported today
that natural gas in storage increased 30 billion cubic feet
week-over-week to 1,734 billion cubic feet for the week ending
April 19. Read the press release
The US Treasury announced today that it will auction $29 billion
worth of 3-month Treasury bills and $24 billion worth of 6-month US
Treasury bills on April 29. The Treasury also announced today that
it will auction $23 billion worth of 12-month Treasury bills on
April 30. At 1 p.m. ETD today, the Treasury will hold its monthly
auction of 7-year Treasury notes.
The Federal Reserve Board of Governors will report on its balance
sheet and the US money supply today 4:30 p.m. EDT.
Cliffs Natural Resources
) spiked 19.09% to $21.70. The largest iron-ore producer reported
yesterday a first-quarter net income of $107 million, or $0.66 per
share, compared to $357.8 million, or $2.63 per share, in the
prior-year quarter. Sales declined 5.9% year-over-year to $1.14
billion. In the past six months, the company has idled mines, cut
its dividend by 76%, and sold $995 million worth of equity and
depositary shares after the price of iron ore declined.
) increased 1.73% to $32.31. The software company sold EUR550
million ($719 million) of 20-year bonds to take advantage of the
low borrowing costs. This marks the first time that Microsoft sold
bonds denominated in euros. It also announced yesterday that it
will reveal its next generation Xbox video game console on May 21.
) climbed 3.81% to $34.59. Competitor
) reported a first-quarter net income of $76.2 million, a 62%
year-over-year increase, and revenue of $1.91 billion, which beat
Wall Street estimates of $1.90 billion.
The Dow Chemical Company
) jumped 4.91% to $33.75. The largest US chemical maker by sales
reported today a first-quarter net income of $550 million, or
$0.46, compared to $412 million, or $0.35 per share, in the
prior-year quarter. Excluding one-time items, profit was $0.69 per
share. Sales fell to $14.4 billion from $14.7 billion a year ago.
(QCOM) plunged 5.86% to $62.13. The mobile chip maker reported
yesterday a fiscal second-quarter net income of $1.87 billion, or
$1.06 per share, compared to $2.2 billion, or $1.28 per share, in
the prior-year quarter. Adjusted earnings were $2.07 billion, or
$1.17 per share. Revenue climbed 24% to $6.12 billion.