LONDON (SHARECAST) - US shares stabilised after their terrible run last week as investors waited for Apple’s numbers after the close while debate raged about the re-appointment of Ben Bernanke as Federal Reserve chairman.
Dow Jones closed up 23 points at 10,196. Nasdaq gained 5 at 1,096 while the S&P 500 added 5 at 2,210.
Apple’s figures didn’t disappoint. The tech giant, which is due to unveil a new tablet computer on Wednesday, saw net income surge 50% to $3.4bn, or $3.67 per share for the quarter to December. Sales rose 32% to a record $15.7bn, way ahead of forecasts.
Elsewhere, existing home sales fell by 16.7% in December compared with a rise of 7.4% in November. The drop was bigger than expected.
Car interiors and power solutions provider Johnson Controls is in the driving seat after JPMorgan Chase responded to the company’s increased profits guidance by upping its price target to $33 from $30.
AK Steel Holding is wanted after the steelmaker’s fourth quarter earnings per share of 41 cents were more than double what analysts had been expecting.
In contrast, Quest Diagnostics comes under selling pressure after the medical diagnostic equipment provider’s fourth quarter revenue of $1.85bn disappointed the market, which had been expecting a figure of around $1.87bn.
Wal-Mart announced plans to cut more than 11,000 jobs at its Sam's Club wholesale club chain. The layoffs will affect approximately 10,000 product demonstration associates, most of which are part-time. The redundancies come after Wal-Mart decided to outsource demonstrations to Arkansas-based marketing company Shopper Events.
Goldman Sachs is capping the total pay of its top 100 employees in London at £1m in an effort to appease the British government, keen to try and rein in bankers’ salaries. The Wall Street bank’s most senior staff over here are exercising restraint in response to calls from chancellor Alistair Darling to curb excessive pay following the financial crisis.
S&P 500 - Risers
A K Steel Holdings Corp. (AKS) $21.27 +5.35%
Ford Motor Co (F) $11.03 +4.85%
GANNETT CO INC (GCI) $16.04 +4.02%
Genworth Financial (GNW) $12.88 +3.79%
S&P 500 - Fallers
Capital One Financia (COF) $36.11 -3.78%
International Game Tech (IGT) $19.98 -3.20%
Southwest Airlines (LUV) $11.32 -3.08%
Humana Inc. (HUM) $49.56 -2.82%
Dow Jones I.A - Risers
Intel Corp. (INTC) $20.35 +2.21%
Caterpillar Inc. (CAT) $55.14 +1.64%
General Electric Co. (GE) $16.37 +1.61%
Hewlett-Packard Co. (HPQ) $50.06 +1.56%
Dow Jones I.A - Fallers
American Express Inc. (AXP) $37.79 -2.07%
United Technologies Corp. (UTX) $68.59 -0.71%
Kraft Foods Inc. (KFT) $27.69 -0.65%
Pfizer Inc. (PFE) $18.85 -0.58%
LONDON (SHARECAST) - US shares stabilised after their terrible run last week as investors waited for Apple’s numbers after the close while debate raged about the re-appointment of Ben Bernanke as Federal Reserve chairman.
