E-mail Comment Del.icio.us Digg Reddit Technorati Furl

Stock Market Report – 04/26/10

Apr 26, 2010 Earnings, Stock Market

Although the Dow Jones Industrial Average closed off the highs of the day, the trading range for the day was 11,187.65 -11,258.01, the index kept up its slow creep to the upside, extending the number of winning sessions to six straight and making it thirty three up days out of the last forty one sessions. Sixteen Dow stocks closed higher, with fourteen falling. The NASDAQ and the S&P 500 closed marginally lower.

The Dow finished the session up 0.75 points to close at 11,205.03; the NASDAQ lost 7.20 points to close at 2,522.95, while the S&P 500 was off by 5.23 points, finishing the session at 1,212.05.

Caterpillar (CAT) was the stand out and kept the Dow in positive territory for the day. The stock rallied $2.87 to $71.65, a 4.17% gain on the company’s 2010 Q1 results, which was released before the markets opened.

For the period, Caterpillar reported a profit of $0.36 per share, a dramatic improvement over the $0.19 loss reported in the year ago first quarter period. Excluding special items, the company reported adjusted profits of $0.50 per share, from $0.39 per share in Q1 2009. Revenue came in at $8.24 billion from $9.23 billion in Q1 2009. Analysts had been looking for the company to report earnings per share of $0.39 on revenue of $8.84 billion.

Among other Dow stocks, 3M (MMM) was up $0.86 to $87.44, IBM (IBM) added $0.74 to $130.73 and Dupont (DD) was up $0.73 to $40.95.

In Broader trading, online movie rental company Netflix (NFLX), rallied $8.44 or 8.46% to close at $108.17 on no news. Last Wednesday, the company reported earnings that sent its stock soaring from $86.98 to $100.25 on Thursday.

Whirlpool (WHR) was another big gainer, climbing $10.20 or 9.98%, to close at $112.42. The company before the bell, reported 2010 Q1 earnings of $2.13 per share, better than the $1.33 per share analysts had been looking for. Revenue came in at $4.27 billion, against forecasts of $3.79 billion.

More on this topic (What's this?)
Can We Keep Going Higher Forever? (FreeTradePicks.com, 4/15/10)
Where Now for the Dow? (Red Hot Energy and Gold - Global..., 5/5/10)
Surging Dow Nears Next Line of Resistance (Red Hot Energy and Gold - Global..., 4/12/10)
Read more on Dow Jones Industrial Average (DJI), S&P 500 (SPX) at Wikinvest

Tags: , , , , , , ,

This entry was posted on Monday, April 26th, 2010 at 5:25 pm and is filed under Earnings, Stock Market. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.