Ben Bernanke talked just long enough at the first Fed Press Conference to send the US dollar (NYSE:UUP) lower, and everything else up. The Dow (NYSE:DIA), S&P (NYSE:SPY), Oil (NYSE:USO), Gold (NYSE:GLD), and Silver (NYSE:SLV) all closed higher. In addition to Ben Bernanke defending the Fed, it was a big earnings day for the market.
These 4 companies reported earnings on Tuesday:
1) Ebay (NASDAQ:EBAY): The online auction company reported Q1 earnings after the closing bell. EPS of 47 cents beat estimates by 1 penny. Revenue increased 16% year-over-year to $2.54 billion. Shares closed up nearly 3% during regular market hours, and continued to edge up in late trading. Competitor Amazon (NASDAQ:AMZN) caught fire and closed up nearly 8%.
2) Starbucks (NASDAQ:SBUX): Shares increased 1.61% on Wednesday, but gave it all back in late trading after the release of Q1 earnings. EPS of 34 cents was inline with estimates, and revenue increased 10% to $2.8 billion. Coffee (NYSE:JO) has recently hit a 34 year high, and companies are passing the costs to consumers, who are feeling inflation everywhere in their daily routine. Investors may also want to consider the more diversified coffee competitor McDonald’s (NYSE:MCD) or Kraft (NYSE:KFT), the maker of Maxwell coffee.
3) Baidu.com (NASDAQ:BIDU): The Google (NASDAQ:GOOG) of China, reported Q1 earnings after the close on Wednesday. EPS of 47 cents beat estimates by 2 cents. Revenue surged ahead 89% year-over-year to $372 million. Looking forward, the company expects Q2 revenue of $493.3 to $503.9 million, compared to previous estimates of $481.4 million. Other Chinese internet plays include Sohu.com (NASDAQ:SOHU) and Sina Corp (NASDAQ:SINA).
4) Dr Pepper Snapple (NYSE:DPS): Shares gained 3.7% on Wednesday, after the beverage company released Q1 earnings before the market opened. EPS of 50 cents beat estimates by 4 cents. Revenue managed to increase 6.7% from last year to $1.33 billion. Shares in Coca-Cola (NYSE:KO), Pepsi (NYSE:PEP), and Hansen Natural (NASDAQ:HANS) also closed higher.
Disclosure: No positions