by Marc Bastow | July 22, 2013 4:58 pm
McDonald’s (MCD) and Kimberly-Clark (KMB) slipped at the starting blocks of a week that will see 160 of the S&P 500’s components release earnings this week, though the broader indices still managed to move ahead for the day.
The Nasdaq led the way with 0.36% gains to finish at 3600.39. The S&P 500 rode a 0.2% uptick to close at a new all-time high high, closing at 1695.53, while the Dow Jones Industrial Average eked out a fractional gain, closing at 15545.55.
In early-week earnings news, McDonald’s (MCD) announced a rise in both revenue and profit, but not enough to meet Street expectations. Specifically, MCD posted adjusted earnings of $1.38 per share, up 4% year-over-year, on a 2% gain in revenues to $7.08 billion. MCD fell around 3% to mark the largest loss in the Dow Jones.
Personal care products maker Kimberly-Clark (KMB) also saw shares decline on the day, dropping nearly 2% after reporting strong second-quarter earnings that beat Street estimates, but revenue figures that fell flat on a year-to-year basis.
A few days after rival Mattel (MAT) was crushed on earnings, Hasbro (HAS) announced a 16% decline in profits for its second quarter, but still finished up more than 3% amid news of a two-year extension of its merchandising rights to Disney’s (DIS) Marvel characters.
Taiwanese chip maker Himax (HIMX) was one of the day’s biggest movers, soaring more than 30% after announcing Google (GOOG) would take a 6% stake in the company that creates the chips for Google Project Glass. GOOG ticked up 1%.
In corporate news, Yahoo (YHOO) fell over 4% after announcing it would buy back 40 million of its shares from Third Point Capital at Friday’s closing price of $29.11, though Third Point will continue to own a 2% stake (20 million shares) in the company. Three Third Point board members, including CEO Dan Loeb, will step down from Yahoo’s board.
After the bell, Netflix (NFLX) announced flat Q2 revenues of $1.07 billion to meet analyst estimates, earnings per share of 49 cents that came in 9 cents above the consensus, and 600,000 new subscribers. Nonetheless, NFLX was trading down nearly 7% in after-hours trading.
Notable earnings releases for Tuesday include Apple (AAPL) and AT&T (T).
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing, he was long AAPL and YHOO.
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