The Dow (NYSE:DIA) closed 65 points higher on Tuesday. The day was busy with earnings releases from several huge companies.
These 4 companies reported earnings on a Tuesday, and even stole gold’s (NYSE:GLD) spotlight as the precious metal broke $1500:
1) Johnson & Johnson (NYSE:JNJ): Before the opening bell, the Dow member reported Q1 earnings. EPS of $1.35 beat estimates by 9 cents. Compared to last year, revenue increased 3.5% to $16.17 billion. Even though net earnings decreased 23% due to product recalls, investors were happy with the earnings beat and shares jumped 3.69% higher. J&J is also in talks to takeover Synthes Inc, the largest medical device maker in the field of bone fractures and traumatic injuries. Competitor Novartis (NYSE:NVS) also saw its shares bounce 3.71%.
2) IBM Corp (NYSE:IBM): This Dow heavyweight provides information technology products and services around the world. After the closing bell, the company reported Q1 earnings. EPS came in at $2.41, which tops estimates by 11 cents. IBM increased revenue 8% to $24.6 billion. The company also raised full year guidance from $13 to $13.15. Apparently investors were expecting a bigger increase in guidance as shares fell nearly 2% in late trading. Rival market leader Apple (NASDAQ:AAPL) reports tomorrow, and Microsoft (NASDAQ:MSFT) will report at the end of the month.
3) Peabody Energy (NYSE:BTU): Investors were not impressed with the coal company’s Q1 earnings beat of 7 cents. Shares closed down .39% after the company reported earnings on Tuesday morning. Revenue rose 15% to $1.74 billion, compared to $1.51 billion the prior year. The company offered full year guidance of $3.50-$4.50, but analysts were expecting full year earnings of about $5. Competitor Consol Energy (NYSE:CNX) also saw its shares drop for the day. However, Massey Energy (NYSE:MEE) and Arch Coal (NYSE:ACI) closed higher.
4) Harley-Davidson (NYSE:HOG): The company released Q1 earnings before the opening bell, and investors didn’t like what they heard. EPS of 51 cents missed estimates by 2 cents. Despite Goldman Sachs (NYSE:GS) upgrading the company from sell to neutral just two days earlier, shares ran out of gas and fell 5% on Tuesday. Other automakers such as Ford (NYSE:F) and Honda (NYSE:HMC) had better days, both closed higher. Harley isn’t the only company having problems in auto industry. General Motors (NYSE:GM) has reached a new low from its November IPO share price of $33. On Tuesday, shares closed down 1.27% to $29.59.
Don’t Miss Wall St. Cheat Sheet’s Dow 30 Quarterly Earnings Season Preview.
Disclosure: No positions