Uplifting Earnings Reports and M&A Activity Help Boost Wall Street (ADBE, MOT)

Encouraging earnings reports and merger activities help stocks edge upward Tuesday in hopes of sparking a rally. The final levels of the day were new highs for 2010, and broke through important technical levels seen as potential barriers. Adobe Systems (ADBE) headed upward 6% on the day after reporting upbeat earnings yesterday after the bell. American International Group (AIG) rose 3% after news the US government plans to sell a portion of their stake in the bailout beneficiary. In other business news, the FCC has passed a “net neutrality” bill restricting the ability of internet service providers to block certain high bandwidth websites from their customers.

Word on the Street

• Markets head upward, breaking key technical levels.
• Struggling cell phone manufacturer Motorola (MOT) close to acquiring cloud storage start up Zecter.
• FCC passes “net neutrality” bill aimed at preventing internet providers from blocking certain websites from their customers.
• Shares of Carmax (KMX) fell 10% due to a decrease in gross profit per vehicle, despite an increase in overall earnings.
• Sales of Amazon (AMZN) Kindles are expected to exceed expectations by as much as 60%.
• Salesforce.com (CRM) purchases email contact manager Etacts to improve the already impressive CRM platform.
• Chevron (CVX) expands into the Gulf of Mexico despite the BP (BP) disaster – will the controversial move pay off?

Interesting Tidbits

• You can spend you’re entire life learning how to do something, but to really succeed, you need experience.
• Feel like the mechanic is ripping you off every visit? Here’s a few things they know but aren’t forthcoming in making sure you do, too.
• What do you plan to do with you’re days off the rest of the month? Try reading one of these investment books.

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