Street Rebounds on Tuesday With Earnings and Housing Data (INTC, KO)
On Tuesday numerous companies released quarterly reports and stocks rebounded after experiencing the hardest hit in 2013 just one day prior. Those that beat expectations included Goldman Sachs (GS), Johnson & Johnson (JNJ) and Yahoo Inc. (YHOO). Intel (INTC) reported a 26% drop in their Q1 earnings but this matched what had been forecast on Wall Street.Coca-Cola (KO) saw net profit decline by 15%. The housing industry released an upbeat report stating that new home production increased by the most in five years this past March. Also reported in the US was a 0.2% drop in consumer inflation and an increase in industrial production of 0.4%. After three straight sessions of losses, the price of oil notched a slight gain.
Word on the Street
- New home construction in the US jumps the most in five years in March.
- Factory production unexpectedly drops in March in the US.
- Goldman Sachs (GS) tops Q1 earnings expectations thanks to stock and bond underwriting.
- Johnson & Johnson (JNJ) profits beat estimates on strong sales of prescription and OTC drugs.
- The IMF trims projections for global economic growth for this year and next.
- Will Nokia Corporation (NOK) beat earnings with Thursday's report?
Published on Apr 16, 2013By InvestorGuide Staff