NEW YORK (TheStreet) -- After a nasty selloff to start the month, U.S. equities are bouncing back on Tuesday, said TheStreet's Jonathan Marino.
European markets are getting a boost today after the U.S. markets opened higher. After initially all trading much lower, the FTSE 100 is back to flat and the CAC 40 is up 0.2%, while the DAX is still down 0.7%.
Marino added that Asian markets have not fared all that well, with the Nikkei closing lower by a whopping 4.2% and the Hang Seng closing down 2.9%.
Shares of Yum! Brands (YUM) are higher after the company reported earning 86 cents per share in the most recent quarter. This beat analysts' expectations of 80 cents per share, he said. Although the company missed on top-line estimates and posted less-than-impressive same-store sales figures, it was better than what investors had expected. Coming into the report, shares were down 12% for the year, Marino added.
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Michael Kors (KORS) is soaring Tuesday after posting huge beats on the top and bottom lines. The company earned $1.11 per share, beating estimates by 25 cents, on revenue of $1 billion, which is $140 million more than analysts had expected.
Finally, Marino had Jim Cramer's new financial pick. The co-manager of the Action Alerts PLUS portfolio, likes Hartford Financial Services Group (HIG), which beat on top- and bottom-line estimates on Monday. The company also announced a $2 billion share buyback plan and provided solid full-year guidance.
-- Written by Bret Kenwell in Petoskey, Mich.