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Defense and Financial Stocks Lead
Jan 26, 5:08 PM EST |
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| Rise in durable goods orders, fall in oil price and stronger than expected earnings led averages to rise. Microsoft report 34 vs 32 cents a year ago. |
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| Market early rise was supported by strong earnings from defense, financials and tech stocks. Of more than 100 companies to report earnings today, 60% reported better than expected earnings. GM posted Q4 profit loss of $8.45 a share and a loss of $15.13 per share for 2005. Honeywell posted Q4 earnings in line with estimates. First Data rose 7% after it said it will spin off its Western Union business. Chipotle Mexican Grill prices 7.88 million shares at $22, the stock jumps 100%. |
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Chipotle IPO Doubles
Jan 26, 1:38 PM EST |
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| Rise in durable goods order and strong earnings momentum supported gains in averages. Mexico and Brazil jump for the third day. |
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| Stocks rallied Thursday morning, lifted by better-than-expected earnings and positive durable goods orders. GM posted Q4 profit loss of $8.45 a share and a loss of $15.13 per share for 2005. Honeywell posted Q4 earnings in line with estimates. First Data rose 7% after it said it will spin off its Western Union business. Chipotle Mexican Grill prices 7.88 million shares at $22, the stock jumps 100%. |
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GM Posts Heavy Losses
Jan 26, 11:29 AM EST |
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| Durable goods orders rose 1.3% in Dec, vs. an increase of 5.4% in Nov, below the expected rise of 1.5%. Initial jobless claims rose 11,000 last week. |
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| Stocks opened higher on upbeat economic data and strong earnings from major companies, including Caterpillar, despite General Motor''s heavy losses in the fourth quarter and full-year. The automaker posted Q4 profit loss of $8.45 a share vs. a loss of 18 cents a year ago and a loss of $15.13 per share for 2005 vs. net income of $4.92 in 2004. Eli Lilly swung to profit in Q4. Caterpillar posted 54% profit jump in Q4, above estimates. Honeywell posted a Q4 earnings rise in line with estimates. |
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Durable Goods Orders Rise
Jan 26, 9:53 AM EST |
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| Crude oil prices rose over $66 a barrel on supply concerns. European gold traded above $562. The dollar was strong vs. the euro and yen. |
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| Asian-Pacific benchmarks closed higher on stronger dollar and retreating oil. The Nikkei climbed 1.2%, followed by Taiwan Weighted index, also up 1.2%. European averages advanced on Siemens and Deutsche Telecom, led by the German DAX 30, up 0.9%. In earnings news, Danaher beat estimates by a penny, posting a Q4 profit rise of 81 cents a share. Eli Lilly swung to profit in Q4, posting earnings of 64 cents a share. Caterpillar posted 54% profit jump in Q4, surpassing estimates. |
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