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TSC 21: Index Sees Strong Day

It ends 2.7% higher amid a flood of earnings news.
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TheStreet.com 21 finished off a turbulent earnings week on Friday by soaring 2.7% to a record-high close.

It ended the day at 1030.97, up more than 27 points from Thursday's close of 1003.49, and led all the major stock indexes, which posted gains of their own. Bolstered by a glowing report on orders for durable goods in June for the nation's industrial sector, the

Dow Jones Industrial Average

jumped 172.06 points, or 1.9%, to 9284.57. The

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S&P 500

rose 17.08 points, or 1.7%, to 998.68, and the

Nasdaq

gained 29.28 points, or 1.7%, to 1730.70.

Out of a losing team of only three companies,

Yahoo!

(YHOO)

gave back some of its gains after posting its highest close on Thursday since July 9, at $33.20. Its stock fell 40 cents, or 1.2%, to $32.80, and

Level 3 Communications

(LVLT)

took a beating, plummeting 35 cents, or 6.8%, to $4.80 in the wake of Thursday's earnings disappointment.

E*Trade

(ET) - Get Report

took a minor loss, falling by 1 cent, or 0.1%, to $9.49, but otherwise, all the players on the index headed north.

Solectron

(SLR)

a tech-outsourcing company, led the pack with a gain of 27 cents, or 5.5%, to $5.22.

General Electric

(GE) - Get Report

vaulted 99 cents, or 3.6%, to $28.43, and

Maytag

(MYG)

grew by 68 cents, or 2.7%, to $25.61.

Cisco Systems

(CSCO) - Get Report

landed at its record-high close since February 2002, climbing 50 cents, or 2.7%, to $19.08, and

Caterpillar

(CAT) - Get Report

,

Best Buy

(BBY) - Get Report

and

Kohl's

(KSS) - Get Report

also posted gains of more than 2%.

A.H. Belo

(BLC)

, the Texas-based media conglomerate serving on the index as a barometer for ad spending, reported upbeat earnings on Friday. While its second-quarter profit fell to $39.4 million, or 34 cents a share, from $40.5 million, or 36 cents a share, it narrowly beat its own internal targets and Wall Street's consensus estimate. Also, the company raised its quarterly dividend by 9.5 cents a share, or 26.7%. Its stock went up 35 cents, or 1.6%, to $22.29.

In all, there were 18 winners as the TSC 21 charged ahead like a bull looking for third-quarter growth.

Want to know more about TSC 21? Click here for an introduction, here to view the latest stories and here to view the entire chart of TheStreet.com 21 components, including the reasons for their inclusion.

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