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Market News: US Markets End At Record Highs

By Abhijit SenStock MarketsJul 18, 2013 03:52PM ET
www.investing.com/analysis/market-news:-us-markets-end-at-record-highs-176099
Market News: US Markets End At Record Highs
By Abhijit Sen   |  Jul 18, 2013 03:52PM ET
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Post Market Update
Stocks that traded actively in U.S. markets on Thursday include: Google Inc (GOOG), Microsoft Corporation (MSFT), Dell Inc. (DELL), Chipotle Mexican Grill, Inc. (CMG), Verizon Communications Inc. (VZ), Intuitive Surgical, Inc. (ISRG), Transition Therapeutics Inc (USA) (TTHI)

Market Levels:
  • US: Dow: 15548.90 (0.51%), S&P 500: 1688.93 (0.48%), 3611.28 (0.04%)
  • Europe: CAC: 3927.79 (1.42%), DAX: 8337.09 (0.99%), FTSE: 6634.36 (0.94%)
  • Asia-Pacific: Australia: 4993.40 (0.23%), China: 2023.40 (-1.06%), Hong Kong: 21345.22 (-0.12%), Japan: 14808.50 (1.31%).
  • Metals: Gold: 1284.20 (0.52%), Silver: 19.39 (-0.16%), Copper: 3.13 (0.10%)
  • Energy: Crude Oil: 108.06 (1.47%), Natural Gas: 3.81 (5.04%)
  • Commodities: Corn: 5.01 (-0.25%), Soya Bean: 12.65 (-1.38%), Wheat: 6.60 (-0.68%)
  • Currency: EUR/USD: 1.3112 (-0.10%), GBP/USD: 1.5223 (0.07%), USD/JPY: 100.5100 (0.92%)
  • 10-year US Treasury: 2.545% (0.056)
U.S. markets end at record highs: Stocks closed higher, with the Dow and S&P 500 jumping to record closing highs after Federal Reserve Chairman Ben Bernanke reaffirmed that the central bank’s monetary policy will remain highly accommodative. On the economic front, leading indicators was unchanged at 95.3 in June, according to the Conference Board. Economists were expecting a 0.3 percent gain last month. Meanwhile, business activity in the mid-Atlantic region soared to its highest level since March 2011, according to the Philadelphia Fed Manufacturing Survey. The Dow Jones Industrial Average (INDEXDJX:.DJI) gained 78.02 points, or 0.5%, to 15,548.54, while the S&P 500 (INDEXSP:.INX) added 8.46 points, or 0.5%, to 1,689.37. The NASDAQ (INDEX.IXIC) rose 1.28 points to 3,611.28.

Stocks in News:

Google Inc (GOOG)

Google Inc (GOOG) posted second-quarter profit of $9.71 billion, or $9.54 a share, up from $8.54 billion, or $8.42 a share, in the year-ago period. Revenue increased to $11.1 billion from $9.61 billion a year earlier. Excluding items, profit was $9.56 a share. Analysts had projected company to report a profit of $10.80 a share, on revenue of $11.37 billion.

Microsoft Corporation (MSFT)
Microsoft Corporation (MSFT)’s fiscal fourth-quarter profit came in at $4.97 billion, or 59 cents a share, on revenue of $19.9 billion, compared to a year-ago loss of $492 million, or 6 cents a share, on $18.06 billion in revenue. Excluding items, the company earned 52 cents a share. Analysts had projected earnings of 75 cents a share on $20.7 billion in sales for the quarter.

Dell Inc. (DELL)
The special shareholder meeting to vote on co-founder and CEO Michael Dell and Silver Lake Management LLC’s $24.4 billion buyout proposal was adjourned and rescheduled for July 24, after the PC maker failed to garner enough support to seal the deal. Dell shares closed 1.0 percent higher at $13.12.

Chipotle Mexican Grill, Inc. (CMG)
Shares rallied in late Thursday trading after second-quarter earnings edged 8% higher. The company posted earnings of $87.6 million, or $2.82 a share, compared to $81.7 million, or $2.56 a share, in the same period last year. Revenue jumped to $816.8 million from $690.9 million a year earlier. Analysts were looking for earnings of $2.82 a share on sales of $803.1 million.

Intuitive Surgical, Inc. (ISRG)
Intuitive Surgical, Inc. (ISRG) reported second quarter earnings of $3.90 per share, compared to the average analysts’ estimate of $4.04 per share. Revenue for the period came in at $579 million, missing the consensus estimate of $594.58 million. Shares fell close to a percent in after-hours trade.

Verizon Communications Inc. (VZ)
Verizon Communications Inc. (VZ) reported weaker tan expected quarterly revenue as growth strength in its wireless unit was offset by weakness in its traditional wire-line business. Excluding items, Verizon earned 73 cents per share, compared with expectations for 72 cents. Operating revenue came in at $29.8 billion, missing estimates of $29.83 billion. Shares closed down 1.5 percent.

Transition Therapeutics Inc (USA) (TTHI)
Shares jumped in trade after the U.S. Food and Drug Administration granted fast track status to the company’s Alzheimer’s disease drug. The fast track status will expedite the review of the drug, ELND005. The drug will undergo a 12-week study focused on approximately 400 Alzheimer’s patients with moderate to severe Alzheimer’s.
Market News: US Markets End At Record Highs
 

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Market News: US Markets End At Record Highs

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