NEW YORK (TheStreet) -- U.S. stocks finished Tuesday mixed following positive earnings from 3M (MMM) and AT&T (T) while consumer confidence fell a little below expectations.
The Dow Jones Industrial Average rose 74.39 points, or 0.58%, to 13,001.56 on Tuesday. The S&P 500 increased 5.03 points to 1,371.97 and the Nasdaq Composite dropped 8.85 points to 2,961.60.
Breadth within the Dow was positive with 24 of the index's 30 components posting gains. Merck (MRK) ended Tuesday flat.
The biggest gainers in the Dow were AT&T, General Electric (GE) and Verizon (VZ).
Shares of AT&T climbed 3.63% to $31.72. The telecommunication company's first-quarter earnings beat Wall Street's expectations. AT&T reported profit of 60 cents a share, excluding items
; analysts were looking for earnings of 57 cents.
gives AT&T a B grade with a buy rating and $35.50
General Electric shares increased 2.46% to $19.54. Two analysts
raised their prices targets on the stock following General Electric's first-quarter earnings on Friday. Both Goldman Sachs' Terry Darling and William Blair's Nick Heymann increased their price targets to $22 from $21.
gives General Electric a B grade with a buy rating and $22.11
Shares of Verizon gained 2.41% to $39.50. TheStreet Ratings
gives Verizon an A- grade with a buy rating and $45.15
Though not one of the biggest gainers, 3M shares increased 1.56% to $88.49. The Scotch tape maker's first-quarter earnings beat analysts' estimates and the company raised the low end
of its full-year guidance.
3M reported first-quarter earnings of $1.12 billion, or $1.59 a share, up from year-earlier earnings of $1.08 billion, or $1.49. The first quarter included a one-time charge of 4 cents a share. Analysts, on average, were expecting earnings of $1.49 a share.
The company lifted the low end of its 2012 profit outlook to $6.35 to $6.50 a share from earlier estimates of $6.25 to $6.50 a share.
gives 3M an A- grade with a buy rating and $100.25
The largest percentage decliners in the index Tuesday were Wal-Mart (WMT)
and Cisco (CSCO)
Shares of Wal-Mart fell 2.97% to $57.77. The stock extended Monday's weakness
in the wake of revelations that company executives were involved in the bribery of Mexican officials.
gives Wal-Mart an A grade with a buy rating and $71.41
Cisco shares dropped 1.32% to $19.42. TheStreet Ratings
gives Cisco a B grade with a buy rating and $22.99
--Written by Alexandra Zendrian in New York
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