This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Stocks Finish Higher on Solid Earnings

NEW YORK (TheStreet) -- Stocks closed higher Tuesday amid a solid spate of earrings, even as economic reports suggested a muted beginning to the year. Easing geopolitical tensions in Ukraine helped to boost sentiment.


WATCH: More market update videos on TheStreet TV | More videos from Jane Searle

  • The Dow Jones Industrial Average closed 0.53% higher to 16,535.37 while the S&P 500 was up 0.48% to 1,878.33. The Nasdaq was 0.72% higher to 4,103.54.
  • Consumer confidence fell to 82.3 in April, below consensus estimates for a reading of 83. The index, a measure of consumer spending and sentiment, fell from an upwardly revised 83.9 in March, its highest point since January 2008.
  • The S&P/Case-Shiller 20-city home price index increased 12.9% in February, the smallest year-over-year price gain since August. Economists were expecting an increase of 13%. 
  • Russia made assurances late on Monday that it would not invade Ukraine. Russian troops reportedly have left the Ukrainian border. An expanding list of Russian and Ukraine individuals have been hit by sanctions from the U.S. and EU.
  • The Federal Open Market Committee kicks off its two-day policy meeting Tuesday, with expectations for a further $10 billion cut to asset purchases. An announcement is expected on Wednesday.
  • Sprint  (S) closed 11.31% higher after reporting a substantial narrowing of its first-quarter loss while sales beat estimates. After the closing bell, eBay (EBAY - Get Report) and Twitter (TWTR - Get Report) will report. eBay is forecast to post first-quarter earnings of 67 cents a share while Twitter is slated to report a loss of 3 cents a share. Merck (MRK) was 3.6% higher after posting profit of 88 cents a share, above expectations for 79 cents a share. Herbalife (HLF) was up 2.21% after quarterly earnings fell to 74 cents a share from $1.14 a share a year earlier. 
  • Allergan (AGN) is reportedly trying to solicit takeover offers from companies such as Johnson & Johnson (JNJ) and Sanofi  (SNY) after receiving an unsolicited $45.7 billion bid from Valeant Pharmaceuticals (VRX). Bank of America (BAC) gained 1.94% Tuesday after shedding more than 6% Monday due to a self-reported capital planning error.
  • In international markets, Germany's DAX finished up 1.46% while the FTSE in the U.K. was 1.04% higher. The Hang Seng closed 1.45% higher while the Tokyo Stock Exchange was closed for a national holiday.
  • The U.K. economy grew 0.8% in the first quarter, slightly below expectations. Year on year, gross domestic product lifted 3.1%, the Office for National Statistics said Tuesday.
  • Markets closed mixed Monday, the S&P 500 and Dow higher while the Nasdaq was broadly flat. M&A activity boosted indices, which were rocked by volatility amid further sanctions linked to Ukrainian unrest. Russia's former finance minister said Monday that Western sanctions may halt economic growth or cause a recession. Separately, European Central Bank President Mario Draghi reportedly told German parliamentarians Monday that the ECB was far from engaging in further stimulus.

-- By Andrea Tse and Jane Searle in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
EBAY $57.91 0.00%
TWTR $48.08 0.00%
AAPL $128.46 0.00%
FB $78.97 0.00%
GOOG $558.40 0.00%

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs