by Marc Bastow | February 12, 2013 5:02 pm
Despite a slew of positive earnings reports, the broader indices merely ambled along Tuesday in the lead-up to the evening’s State of the Union address.
The Dow Jones Industrial Average gained 0.34% to 14,018.70 and the S&P 500 ahead 0.16% to 1,519.43. The Nasdaq was unable to join the others in the black, however, falling 0.17% to 3,186.49.
Michael Kors (NYSE:KORS) shares jumped 8% after the company reported fourth-quarter earnings that were more than double the year-ago period’s figures and 65% better than analysts expected. KORS shares have now improved 160% since going public in December 2011, including 85% returns in the past year. Fellow luxury retailer Fossil (NASDAQ:FOSL) climbed 3% after also beating earnings and revenue forecasts on increased watch demand.
Also seeing a nice bump on the day was Avon (NYSE:AVP), whose shares rocketed more than 20% to lead all S&P 500 stocks after the beauty products company’s adjusted earnings of 37 cents impressed analysts, who were looking for 27 cents.
AOL (NYSE:AOL) continued its amazing rise, climbing another 5%, possibly on continued strength following Friday’s Q4 report.
Heading the other way was Coca-Cola (NYSE:KO), down nearly 3% — the worst loss for any Dow component — after beating earnings estimates by a mere penny and announcing revenues that slid under the bar.
Earnings notables for Wednesday include Deere (NYSE:DE), Cisco (NASDAQ:CSCO), and Comcast (NASDAQ:CMSCA).
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing, he did not hold a position in any of the aforementioned securities.
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