Stocks moved higher, erasing earlier losses, on hopes that Greece is nearing a deal to secure more bailout money. Also, job openings rose to 3.38 million in December from 3.12 million the month before, showing continued improvement in the labor market. Coca-Cola climbed 0.8% after the co. reported adjusted fourth-quarter results that topped consensus expectations. Boeing was off 0.3% on the heels of production delays reported due to a structural fix needed in some of its 787s. NCR and Advanced Micro Devices were up sharply leading the tech sector to modest gains. AMD surged 3% after Longbow Research upgraded the stock to buy from neutral. Apple, Cisco, Microsoft, eBay, Amazon and Adobe were on the rise. Disney fell 0.8% late Tuesday after the co. posted barely higher revenue, and Silicon Graphics tumbled 23.5% after the computer server maker slashed its yearly adjusted earnings forecast.
Wednesday, February 8, 2012
Recovered from early losses on hopes for Greece
Stocks moved higher, erasing earlier losses, on hopes that Greece is nearing a deal to secure more bailout money. Also, job openings rose to 3.38 million in December from 3.12 million the month before, showing continued improvement in the labor market. Coca-Cola climbed 0.8% after the co. reported adjusted fourth-quarter results that topped consensus expectations. Boeing was off 0.3% on the heels of production delays reported due to a structural fix needed in some of its 787s. NCR and Advanced Micro Devices were up sharply leading the tech sector to modest gains. AMD surged 3% after Longbow Research upgraded the stock to buy from neutral. Apple, Cisco, Microsoft, eBay, Amazon and Adobe were on the rise. Disney fell 0.8% late Tuesday after the co. posted barely higher revenue, and Silicon Graphics tumbled 23.5% after the computer server maker slashed its yearly adjusted earnings forecast.
