The markets rose slightly Tuesday after digesting the first wave of earnings.
The Dow Jones Industrial Average rose 27.81, or 0.33%, to 8,359.49, while the S&P 500 added 4.79, or 0.53%, to 905.84. The Nasdaq rose 6.52, or 0.36%, to 1,799.73.
Melissa Lee, the moderator of CNBC's "Fast Money" TV show, said Intel (INTC) was up more than 10 percent in after-hours trading on better-than-expected earnings and bullish guidance.
Joe Terranova said Intel's estimated double-digit revenue growth for the third quarter is phenomenal. He said the bellwether stock will take the rest of the market higher.Guy Adami, who is long Intel, said investors should take profits Wednesday on the stock on what he expects will be a high-volume day. He said the stock is a tad expensive at 19 times earnings. Pete Najarian said Intel's "great quarter" is exactly what the market needed to follow up Goldman Sachs. Patrick Wang, an analyst with Wedbush Morgan, agreed with Adami's trading strategy and said he would be checking to see what the company says in its conference call about PC demand and gross margins in the next quarter. Jim Goldman, a CNBC reporter, said Intel's CFO Stacy Smith said that the company expects a "seasonably up" second half. He said that is good news for "broader tech," including the likes of Microsoft (MSFT) Shifting to Goldman Sachs (GS), which reported record trading profits, Seymour said the stock's muted performance today was understandable, given the fact that investors were piling into the stock Monday. He said Goldman's significance should be judged on its impact on the rest of the financial sector.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV