Indices Get By on ABCs — Wednesday’s IP Market Recap

by Marc Bastow | April 25, 2012 5:16 pm

IPMarketRecap Indices Get By on ABCs    Wednesday's IP Market Recap[1]If a rising tide lifts all boats, than Apple (NASDAQ:AAPL[2]) might be considered the markets’ QE2. Following blowout earnings[3] released Tuesday after the bell, AAPL shares rose 9% in trading Wednesday and leading the overall markets higher.

Apple’s performance helped lift the Nasdaq an astounding 2.3% to close at 3,029.63, and the S&P gained 1.36% to close at 1,390.69.

The Dow Jones benefited from positive news of its own, as continued strong earnings news and a positive economic outlook and decision by the Federal Open Market Committee to hold interest rates steady through 2014 helped push the index up 0.69% to 13,090.72.

Boeing (NYSE:BA[4]), Harley Davidson (NYSE:HOG[5]) and Eli Lilly (NYSE:LLY[6]), all reported stronger results this morning, and by the afternoon, word of a 2:1 share split at Coca-Cola (NYSE:KO[7]) — and a dividend increase at Exxon Mobil (NYSE:XOM[8]) — helped sustain the morning rally.

Following news of the split[9], Coke shares touched $75 per share before settling at a 13-year high of $74.93, while XOM shares moved up fractionally to $86.85. Both actions require formal board and shareholder approval.

Boeing’s earnings[10] came in at $1.22 per share, above analyst estimates of 94 cents, with revenues of $19.4 billion trumping estimates for $18.4 billion. Boeing finished up 5% at $77.08. LLY was up 2% as adjusted earnings of 92 cents per share topped estimates for 78 cents. Harley Davidson’s sales[11] rose 20% to $1.7 billion, and net income soared 44% to 74 cents. Harley’s stock price roared up 6% to close at $53.49.

Not as fortunate on the day was Caterpillar (NYSE:CAT[12]), whose shares ended down 4.5% to $103 despite beating analyst estimates[13] on both earnings and revenues.

Tomorrow’s big earnings’ notables include Colgate (NYSE:CL[14]), Ford (NYSE:F[15]), Kellogg (NYSE:K[16]), Starbucks (NASDAQ:SBUX[17]) and Amazon (NASDAQ:AMZN[18]).

Three Up

Three Down

Marc Bastow is an assistant editor of InvestorPlace. As of this writing, he was long AAPL and XOM.

Endnotes:
  1. [Image]: http://investorplace.com/hot-topics/investorplace-market-recap/
  2. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  3. blowout earnings: http://investorplace.com/2012/04/apple-gets-its-mojo-back-aapl/
  4. BA: http://studio-5.financialcontent.com/investplace/quote?Symbol=BA
  5. HOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=HOG
  6. LLY: http://studio-5.financialcontent.com/investplace/quote?Symbol=LLY
  7. KO: http://studio-5.financialcontent.com/investplace/quote?Symbol=KO
  8. XOM: http://studio-5.financialcontent.com/investplace/quote?Symbol=XOM
  9. news of the split: http://investorplace.com/2012/04/buy-coca-cola-before-the-split-and-drink-up-big-profits/
  10. Boeing’s earnings: http://investorplace.com/2012/04/boeing-earnings-soar-56-trump-forecasts/
  11. Harley Davidson’s sales: http://investorplace.com/2012/04/harley-davidson-earnings-beat-forecasts/
  12. CAT: http://studio-5.financialcontent.com/investplace/quote?Symbol=CAT
  13. beating analyst estimates: http://investorplace.com/2012/04/caterpillar-my-top-stock-pick-for-2012/
  14. CL: http://studio-5.financialcontent.com/investplace/quote?Symbol=CL
  15. F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
  16. K: http://studio-5.financialcontent.com/investplace/quote?Symbol=K
  17. SBUX: http://studio-5.financialcontent.com/investplace/quote?Symbol=SBUX
  18. AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
  19. UIS: http://studio-5.financialcontent.com/investplace/quote?Symbol=UIS
  20. CRUS: http://studio-5.financialcontent.com/investplace/quote?Symbol=CRUS
  21. GLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLW
  22. HES: http://studio-5.financialcontent.com/investplace/quote?Symbol=HES
  23. CS: http://studio-5.financialcontent.com/investplace/quote?Symbol=CS
  24. JNPR: http://studio-5.financialcontent.com/investplace/quote?Symbol=JNPR

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