NEW YORK (
TheStreet) -- U.S. stocks
soared Tuesday as global worries subsided and first-quarter earnings season continued to exceed expectations.
Dow Jones Industrial Average rose 194 points, or 1.5%, to close at 13,115 on Tuesday. The
S&P 500 increased 1.6% to 1391 and the
Nasdaq Composite gained 1.8% to 3043.
Breadth within the Dow was positive with all 30 of the index's components posting gains.
The biggest percentage gainers among the blue chips were
(DIS - Get Report),
(IBM - Get Report).
Shares of Walt Disney rose 2.45% to $42.68. The media company is going to produce the third
movie in China, according to
The Wall Street Journal
gives Walt Disney an A- grade with a buy rating and
Kraft Foods shares increased 2.39% to $38.48.
gives Kraft Foods an A+ grade with a buy rating and
Shares of IBM rose 2.33% to $207.45 during the trading day but pulled back in the extended session after Big Blue's first-quarter earnings report.
gives IBM an A+ grade with a buy rating and
topped Wall Street's earnings view for the first quarter but the company forecast a sequential decline in non-GAAP gross margins in the second quarter.
Shares of the world's biggest chip maker rose 6 cents, or 0.23%, in regular trading on Tuesday to $28.47 but dropped 2% in the extended session.
Though not among the largest percentage gainers,
Johnson & Johnson
(JNJ - Get Report)
also rose following their first-quarter earnings reports.
Shares of Coca-Cola rose 2.08% to $73.95. The beverage company reported
first-quarter net income
of $2.05 billion, or 89 cents a share, up from year-earlier earnings of $1.9 billion, or 82 cents.
Coca-Cola's stock hit a 52-week high Tuesday of $74.48. The stock's 52-week low of $63.34 was set on Oct. 4.
gives Coca-Cola an A grade with a buy rating and
Johnson & Johnson shares rose 24 cents, or 0.38%, to $64.22. The consumer goods and drugs company reported first-quarter earnings excluding special items Tuesday of $3.8 billion, or $1.37 a share. Analysts, on average, were expecting earnings of
$1.35 a share
Though Johnson & Johnson's profit beat estimates, its global sales fell 2.4% in the first quarter.
gives Johnson & Johnson a B- grade with a buy rating and
Written by Alexandra Zendrian in New York
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