Yahoo Beats Estimates Again; Mixed Reports for US Economy (YHOO, VMW)
The S&P 500's winning streak of eight sessions finally ended on Monday as mixed economic reports were shared from the US. The Nasdaq was boosted slightly after shares of Apple (AAPL) rebounded by 1.8%. Companies reporting positive earnings results included Caterpillar (CAT) and Yahoo Inc. (YHOO). VMware (VMW) announced a rise in their Q4 earnings but shares were down after forecasting a profit lower than expected for the current period.In December, orders for durable goods rose 4.6% while pending home sales slowed unexpectedly. A report was released on Monday criticizing the pay packages that multiple top executives and employees at AIG (AIG), General Motors (GM) and Ally Financial Inc. (ALFI) received in 2012 that were approved by the US Treasury Department. Gold futures continued to slip for the fourth day in a row due to trading caution and pressure as certain options expired.
Word on the Street
- Durable goods orders rise 4.6% in December, boosted by a large increase in aircraft orders.
- Herbalife (HLF) drops around 11% due to pyramid scheme jitters.
- December pending home sales fall 4.3% after reaching a two-and-a-half year high in November.
- Toyota (TM) reclaims the title of world's top automaker in 2012 after sales of 9.75 million.
- Seagate Technology (STX) sees earnings drop 12.6% during their fiscal second quarter.
- The dollar clings on to slight gains while the yen remains firm on Monday.
- Yahoo (YHOO) beats estimates and shares rise more than 4% in after-hours trading.
Published on Jan 28, 2013By InvestorGuide Staff