Stocks held onto modest gains after choppy morning. The National Association of Home Builders and Wells Fargo said their builders’ sentiment index stayed at its highest level in close to five years. The tech-heavy Nasdaq, boosted by news from Apple, added a 0.8% gain. Apple climbed 2.7% after the co. said it would pay a quarterly dividend of $2.65 a share and will buy back $10 billion of its own shares over the next three years. Google rose 1.4% after the co. announced that China has extended its review of Google’s $12.5 billion purchase of Motorola Mobility. Also, Citigroup and Morgan Stanley ended the day higher, following reports that the Federal Reserve made some minor corrections to its stress test results. After the market closed, Adobe fell 4.5% on drop in earnings. Implied volatility little changed on massive trading volumes.
Tuesday, March 20, 2012
Gained on news from Apple
Stocks held onto modest gains after choppy morning. The National Association of Home Builders and Wells Fargo said their builders’ sentiment index stayed at its highest level in close to five years. The tech-heavy Nasdaq, boosted by news from Apple, added a 0.8% gain. Apple climbed 2.7% after the co. said it would pay a quarterly dividend of $2.65 a share and will buy back $10 billion of its own shares over the next three years. Google rose 1.4% after the co. announced that China has extended its review of Google’s $12.5 billion purchase of Motorola Mobility. Also, Citigroup and Morgan Stanley ended the day higher, following reports that the Federal Reserve made some minor corrections to its stress test results. After the market closed, Adobe fell 4.5% on drop in earnings. Implied volatility little changed on massive trading volumes.
