Nasdaq is trying to jump 3.5 percent Wednesday after Intel better-than expected earnings. Strong Empire State index lifted feeling
U.S. stocks closed sharply higher Wednesday, with a broad advance in than expected earnings and economic reports. The Nasdaq composite index led the way with a jump of 3.5% after Intel than expected profit report after the close Tuesday lifted sentiment in the technology sector.
Some of the buying was driven by an enormous improvement of New York Fed Empire State index of manufacturing. Merchants also reports showing eyes than expected rise in consumer inflation in June, and a planned reduction in industrial output in June.
The minutes of the Fed's policy of June 23.-24. Policy meeting released Wednesday, the Fed on the outlook for economic growth, but concerned about the labor market.
Earnings in the news Wednesday, Janus Capital Group (JNS) posted second quarter earnings per share [EPS] of $ 0.10 on continuing operations, vs. $ 0.40 a year earlier, the 34% decline in sales and operating margins narrowed. The company announced Resignationes CEO Gary Black, effective July 13th. Tim Armor, director of Janus, was named CEO on an interim basis. The company also offers the public starting at $ 150 million common stock and 150 million dollars of principal of the car because of senior notes in 2014.
Gannett Co. (GCI) reported second quarter non-GAAP EPS of USD 0.46, compared to $ 1.04, lower by 18% of total operating revenues. Wall Street was looking for EPS of USD 0.36.
Yum Brands (YUM) posted second quarter EPS of USD 0.50 [excluding profit on] compared to $ 0.45 and the lower cost and lower cost than - expected tax compensation 7% decline in total revenue. Wall Street was looking for EPS of USD 0.43. Although the more-expected second quarter results, the company maintains a 2009 EPS view of $ 2.10, excluding special items.
Gannett Co. (GCI) reported second quarter non-GAAP EPS of USD 0.46, compared to $ 1.04, lower by 18% of total operating revenues. Wall Street was looking for EPS of USD 0.36.
Yum Brands (YUM) posted second quarter EPS of USD 0.50 [excluding profit on] compared to $ 0.45 and the lower cost and lower cost than - expected tax compensation 7% decline in total revenue. Wall Street was looking for EPS of USD 0.43. Although the more-expected second quarter results, the company maintains a 2009 EPS view of $ 2.10, excluding special items.
Altera Corp. (Altre) posted in-line second quarter EPS of $ 0.16 [$ 0.04, including tax expense] vs. $ 0.32 in the 22% decline in sales. On sequential basis, sales rose 6%, and new products increased 16%. Altera see below third quarter for 1% -5% sequentially and gross margin of 65%, plus or minus 0.5%, a tax rate of 13% -14%.
Wolverine World Wide (WWW) released in the second quarter adjusted EPS of $ 0.27, vs. $ 0.33 on 3.1% revenue decline. Wall Street was looking for EPS of $ 0.26 - $ 0.27. Due to its strong performance year, wolverine now expects 2009 EPS of $ 1.55 - $ 1.73, up from previous guidance of $ 1.50 - $ 1.70 to earnings of $ 1.070 $ 1.120 billion-billion.
Wolverine World Wide (WWW) released in the second quarter adjusted EPS of $ 0.27, vs. $ 0.33 on 3.1% revenue decline. Wall Street was looking for EPS of $ 0.26 - $ 0.27. Due to its strong performance year, wolverine now expects 2009 EPS of $ 1.55 - $ 1.73, up from previous guidance of $ 1.50 - $ 1.70 to earnings of $ 1.070 $ 1.120 billion-billion.
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