Post Market News
Stocks that were active in U.S. trading on Tuesday include Apple Inc. (NASDAQ:AAPL), Netflix, Inc. (NASDAQ:NFLX), Coach, Inc. (NYSE:COH), Texas Instruments Incorporated (NASDAQ:TXN) and Celestica Inc. (NYSE:CLS) (TSE:CLS).
- U.S.: Dow Jones: 14,715.46 (+1.02%), S&P 500: 1,578.75 (+1.04%), Nasdaq: 3,269.33 (+1.11%)
- World Markets: Shanghai: 2,184.54 (-2.57%), Nikkei 225: 13,529.65 (-0.29%), Hang Seng Index: 21,806.61 (-1.08%), TSEC: 7,942.77 (-0.35%), FTSE 100: 6,406.12 (+2%), EURO STOXX 50: 2,662.88 (+3.07%), BSE Sensex: 19,179.36 (0.86%)
- Metals: Gold: $1,408.80 (-0.87%), Silver: $22.82 (-2.17%), Platinum: $1,417.80 (-1.32%)
- Currency: EUR/USD: 1.2991 (-0.52%), USD/JPY: 99.41 (0.00%), GBP/USD: 1.5243 (+0.05%), USD/CAD: 1.0264 (0.13%), USD/CNY: 6.1792 (-0.05%), AUD/USD: 1.0255 (-0.14%)
- 10 year U.S. Treasury: 1.70% (+0.04), 30 year U.S. Treasury: 2.91% (+0.05)
Market And Economy News
U.S. markets continue to strengthen as all three major indexes ended the session with gains. The Dow Jones Industrial Average gained 148.29 points to 14,715.46, the S&P 500 Index was up 16.28 points to 1,578.78, while Nasdaq rose 35.78 points to 3,269.33. However, investors remain concerned about the global economic outlook. Today, German data showed that the country’s private sector shrank for the first time in the past five months in April. Chinese PMI data indicated that the country’s economic activity and exports slowed during the first quarter of this year.
Stocks In Focus
Apple Inc. (NASDAQ:AAPL)
Apple Inc. announced its earnings for the first quarter of 2013, after the market closed on Tuesday April 23. The company revealed earnings per share of $10.09 on revenue of $43.6 billion for the three months. On today’s market Apple Inc. (NASDAQ:AAPL)’s stock trended up, closing the day at a price of $406 per share. Analysts expected profits to decline 17 percent YoY for the first time in over a decade. Consensus of analysts estimated that Apple would report $42.49 billion in the first quarter revenues and $10.07 in earnings. In the same period of last year, the company recorded sales of $39.19 billion with $12.30 in earnings. Apple shares closed 2.12 percent higher to $406.77 at the close of the session.
Netflix, Inc. (NASDAQ:NFLX)
The Internet subscription service provider was one of the highest gainers of the day as the company posted solid first quarter results. Excluding one-time charges, earnings came in at 31 cents per share, handily beating the analysts’ consensus of 19 cents a share. Revenues surged 17 percent to $1.02 billion, similar to what analysts had expected. The company added 2 million new subscribers during the quarter. Netflix shares rose 24.44 percent to $216.99 a share.
Coach, Inc. (NYSE:COH)
The women’s and men’s accessories maker posted third quarter results that topped Wall Street expectations. The company earned 84 cents or $238.9 million in the third quarter, up from $225 million, or 77 cents in Q3 2013. Revenues jumped 7 percent to $1.2 billion. Analysts were expecting $1.18 billion in revenues and 80 cents in profits. Coach Inc. shares jumped 9.80 percent to $55.55 a share.
Texas Instruments Incorporated (NASDAQ:TXN)
The Dallas, Texas-based company continues to slowly shift away from the mobile chip markets. The company posted better than expected first quarter earnings due to strong orders from auto components makers and industrial tool companies. Texas Instruments earned 32 cents per share on revenues of $2.89 billion. Analysts were expecting $2.85 billion in revenues and 30 cents in earnings. However, the company’s gross margin declined during the quarter to 47.63 percent from 49 percent in the same period last year. Shares jumped 2.56 percent to close the session at $35.70.
Celestica Inc. (NYSE:CLS) (TSE:CLS)
The supply chain solutions provider posted better than expected first quarter earnings despite its biggest client Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) leaving the company to reduce supply chain costs. The company earned $30 million or 16 cents per share, compared to the Wall Street consensus of 15 cents a share. Revenues skidded 19 percent to $1.37 billion. Additionally, the Canadian company incurred $7.3 million in restructuring costs. Celestica shares jumped 5.62 percent to close the session at $8.08.