U.S. stocks advanced on Monday as stronger-than-expected profit from Citigroup helped financial shares shake off worries that the foreclosure mess could threaten the stability of the housing market.
Apple Inc (AAPL.O), which hit an all-time high during the regular session, disappointed investors after reporting gross margins and iPad shipments. Its shares skidded 5 percent in after-hours trading while stock index futures fell, suggesting a weak market opening on Tuesday. For details, see [ID:nN18288374].
Shares in IBM also fell after the closing bell, losing 3.5 percent to $137.84. The stock had reached a 52-week high during the regular session. International Business Machines Corp (IBM.N) reported a higher-than-expected profit and raised its outlook for the full year, but the shares fell on sluggish sales of technology services. [ID:nN18152165].
"Both stocks have kind of gone parabolic into the earnings," said Nick Kalivas, an analyst at MF Global in Chicago. "My fear is we're going to get a buy the rumor, sell the fact trade."
http://www.reuters.com/article/idCAN1828686020101018?rpc=44
Dow Jones Industrial Average
(DJI: ^DJI)| Index Value: | 11,143.69 |
|---|---|
| Trade Time: | 4:03PM EDT |
| Change: |  80.91 (0.73%) |
| Prev Close: | 11,062.78 |
|---|---|
| Open: | 11,062.63 |
| Day's Range: | 11,054.76 -11,159.05 |
| 52wk Range: | 9,596.04 -11,309.00 |
No comments:
Post a Comment
Please remember...your comment should not contain nudity or vulger language in addition to advertisement of your blog/site or any product ...and should not hurt the readers emotions...if that will be case it will be removed on first review of admin staff... Regards