McGraw-Hill Gets Sued and an Earnings Roundup: Market Recap
The markets moved forward with a clear head today after Monday’s painful hangover. A bunch of positive economic indicators and some strong earnings reports helped push the S&P 500 back above 1,500, but the Dow remained under 14,000 after having broken through on Friday.
At the close: DJIA: +0.71%, S&P 500: +1.04%, NASDAQ: +1.29%.
On the commodities front, Oil (NYSE:USO) climbed 0.51 percent to $96.66 per barrel. Precious metals were mixed, with Gold (NYSE:GLD) falling 0.20 percent to $1,673.10 per ounce and Silver (NYSE:SLV) climbing 0.26 percent to $31.80 per ounce. The yield on the 10-year T-bill climbed 0.045 points to 2.001 percent.
Here’s your Cheat Sheet to today’s top stock stories:
Five years after the financial crisis started to pick up steam, U.S. officials are finally bringing legal action against one of the three major credit rating firms. However, the motivation for the lawsuit is questionable, to say the least. The U.S. Department of Justice filed a civil lawsuit against Standard & Poor’s, alleging the McGraw-Hill (NYSE:MHP) unit improperly used its rating system to assign grades to mortgage bonds that did not predict the full magnitude of the housing downturn and nearly caused a meltdown of the global financial system… (Read more.)
Disney (NYSE:DIS) climbed as much as 3.7 percent in after-hours trading after closing the regular session up 0.72 percent. The iconic entertainment company reported fiscal first-quarter results that clearly pleased investors, with net income falling just 5.74 percent to $1.38 billion, or $0.79 per share, ahead of analysts’ expectations. Revenue climbed 5.2 percent to $11.34 billion… (Read more.)
Zynga (NASDAQ:ZNGA) climbed as much as 5 percent in after-hours trading after closing the regular session up 7.03 percent. The social-game publisher reported fourth-quarter and full-year 2012 results that beat expectations, but still underline the company’s ongoing difficulties. Zynga reported a net loss of $48.6 million, or $0.06 per share, which compares to a net loss of $435.01 million in the year-earlier quarter. The company’s full-year net loss was $209 million, nearly half of what it was in 2011… (Read more.)
SIRIUS XM Radio (NASDAQ:SIRI) was off fractionally in after-hours trading after closing the regular session up 1.11 percent. The satellite-radio provider reported fourth-quarter and full-year results that showed 13 percent revenue growth to a record $3.4 billion and 2.0 million net subscriber additions to 23.9 million. Net income of $156.2 million, or $0.02 per share, met analysts’ expectations… (Read more.)
NYSE Euronext (NYSE:NYX) was flat in after-hours trading after closing the regular session up 1.00 percent. The exchange operator reported fourth-quarter and full-year 2012 results that came in slightly ahead of analyst expectations. Net income decreased 74.77 percent to $28 million, or $0.43 per share, while revenue decrease 46.68 percent to $562 million… (READ MORE” target=_blank>READ MORE.)
Kellogg (NYSE:K) was flat in after-hours trading after closing the regular session up 0.69 percent. The cereal company reported fourth-quarter and full-year 2012 results that showed 18.08 percent revenue growth to $3.56 billion, while earnings per share increased 3 cents to $0.67… (Read more.)
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