Thursday, January 17, 2013

Mixed finish on banks, Boeing and Apple

Stocks ended mixed as investors weighed decent corporate earnings reports against worries about the debt ceiling and global economic growth. Also, industrial production rose for a second month in December on increased demand for business equipment. Consumer prices for U.S. goods and services held flat in December, with prices rising 1.7% for all of 2012. J.P. Morgan rose 1% after the bank reported fourth-quarter profit that exceeded estimates and 2012 revenue down from the prior year. Goldman Sachs climbed 4.1% as the bank’s quarterly profit nearly tripled. Boeing led the blue-chip slide, losing 3.4%, after Japan’s two largest airlines grounded all their 787 Dreamliner planes as a safety precaution after one made an emergency landing. Apple gained 4.15% after several brokers issued positive notes on Apple before the open, pointing to strong results expected for the first fiscal quarter; the company will report next week. Google slipped 1.3% as some analysts speculated on the potential impact of Facebook’s “graph search” tool to Google’s core Web search business. Hewlett-Packard rose 4.1% after a Wall Street Journal report citing unnamed sources that potential buyers have expressed interest in acquiring Autonomy Corp. In the evening trade eBay was up 0.75% after the company reported earnings and revenue slightly above expectations.