NEW YORK (TheStreet) -- U.S. stocks soared Tuesday as global worries subsided and first-quarter earnings season continued to exceed expectations.
The 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 Walt Disney (DIS), Kraft Foods (KFT) and IBM (IBM).
Shares of Walt Disney rose 2.45% to $42.68. The media company is going to produce the third Iron Man
movie in China, according to The Wall Street Journal
gives Walt Disney an A- grade with a buy rating and $48.68
Kraft Foods shares increased 2.39% to $38.48. TheStreet Ratings
gives Kraft Foods an A+ grade with a buy rating and $47.27
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 $266.87
Dow component Intel (INTC)
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, Coca-Cola (KO)
and Johnson & Johnson (JNJ)
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 $83.41
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 $74.09
--Written by Alexandra Zendrian in New York
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