Mixed-Up Markets Finish Up — Thursday’s IP Market Recap

by Marc Bastow | April 26, 2012 5:22 pm

IPMarketRecap Mixed Up Markets Finish Up    Thursday's IP Market Recap[1]U.S. stocks followed up on Wednesday’s positive momentum with another move north Thursday despite weak news on the unemployment front and a mixed bag of earnings reports.

The Dow finished the day up 0.91% to 13,000, while the S&P rose 0.69% to 1,400 and the Nasdaq 0.71% to 3,050.

A number of big names declined on earnings news Thursday, including Exxon Mobil (NYSE:XOM[2]), UPS (NYSE:UPS[3]) and Aetna (NYSE:AET[4]).

Health care giant Aetna was pummeled by more than 8% after it reported a first-quarter earnings decline of 13% to $411 million ($1.43 per share), falling short of Wall Street expectations of $1.40. UPS fell 1.75% as earnings rose 6% to $970 million ($1 per share) but just missed analyst estimates.  Exxon reported first-quarter earnings of $9.45 billion ($2 per share), down from $10.65 billion ($2.14) it earned a year earlier and missing estimates of $2.09 per share. XOM fell less than 1% on the news.

Meanwhile, first-quarter profit at Citrix (NASDAQ:CTXS[5]) slid 7%; however, core results still topped expectations, and the company lifted its full-year guidance, sending shares rocketing up 12% to a close of over $86.

The auto industry continues to see a rebound[6], as Chrysler reported its best quarter in more than 13 years. The automaker earned $473 million in the quarter, more than quadruple the $116 million it earned in the year-earlier period. All eyes will now turn to Ford (NYSE:F[7]) and General Motors (NYSE:GM[8]) who report tomorrow and May 3, respectively.

Afternoon headlines were dominated by earnings news from Amazon (NASDAQ:AMZN[9]) and Starbucks (NASDAQ:SBUX[10]).

Amazon was soaring by more than 12% in early after-hours trading after it reported first-quarter net income of 28 cents per share. The figure was down from 44 cents per share last year, but better than estimates for 7 cents per share. Sales also increased, to $13.18 billion from $9.86 billion in the previous year.

Net income for Starbucks rose to $309.9 million (40 cents per share) vs. $261.6 million (34 cents per share) in the same quarter a year earlier, with revenues up 14.7% to $3.2 billion; analysts were looking for EPS of 39 cents. SBUX shares were trading down nearly 5%.

Three Up

Three Down

Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing, he was long AAPL and XOM.

Endnotes:
  1. [Image]: http://investorplace.com/hot-topics/investorplace-market-recap/
  2. XOM: http://studio-5.financialcontent.com/investplace/quote?Symbol=XOM
  3. UPS: http://studio-5.financialcontent.com/investplace/quote?Symbol=UPS
  4. AET: http://studio-5.financialcontent.com/investplace/quote?Symbol=AET
  5. CTXS: http://studio-5.financialcontent.com/investplace/quote?Symbol=CTXS
  6. continues to see a rebound: http://investorplace.com/ipo-playbook/chrysler-revving-for-an-ipo/
  7. F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
  8. GM: http://studio-5.financialcontent.com/investplace/quote?Symbol=GM
  9. AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
  10. SBUX: http://studio-5.financialcontent.com/investplace/quote?Symbol=SBUX
  11. CRUS: http://studio-5.financialcontent.com/investplace/quote?Symbol=CRUS
  12. PHM: http://studio-5.financialcontent.com/investplace/quote?Symbol=PHM
  13. COG: http://studio-5.financialcontent.com/investplace/quote?Symbol=COG
  14. AKAM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AKAM
  15. HRB: http://studio-5.financialcontent.com/investplace/quote?Symbol=HRB
  16. CROX: http://studio-5.financialcontent.com/investplace/quote?Symbol=CROX

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