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TMCNet:  Coutts-US close: Stocks rise as earnings impress

[January 28, 2013]

Coutts-US close: Stocks rise as earnings impress

(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 28 January 2013 Release date- 26012013 - US close: Stocks rise as earnings impress.

S&P registers longest winning streak since 2004 - P&G, Starbucks and Halliburton impress Apple loses 'most valuable' title to Exxon Dow Jones: 0.51% Nasdaq Comp.: 0.63% S&P 500: 0.55% US stocks finished with decent gains on Friday on the back of several better-than-expected corporate results, helping the S&P 500 to close above the key 1,500 level for the first time since December 2007.

This is the eight-straight day that the S&P 500 has registered gains, the longest winning streak since November 2004.

Strong earnings from Procter & Gamble, Starbucks and Halliburton lifted sentiment today, giving traders an excuse to shrug off disappointing home sales data. Exiting home sales unexpectedly fell in December to an annualised rate of 369,000, down from 385,000 the month before (revised up from 377,000). Analysts were expecting a reading of 385,000.

Markets were also having to digest some mixed newsflow from Europe on Friday before the opening bell: UK GDP declined more than expected in the fourth quarter of 2012, while the German IFO business climate index topped expectations in January.

P&G, Starbucks and Halliburton impress Household products giant Procter & Gamble finished up 4.02% after earnings more than doubled in its fiscal second-quarter. The company also raised its profit guidance for the full year.

Coffee chain group Starbucks was in demand after seeing net earnings gain 14% year-on-year, with sales in its domestic market beating expectations.

Oil services titan Halliburton also rose despite net income falling 26%. Shares still finished 5.05% after the company beat Wall Street forecasts.

Software giant Microsoft managed to finish slightly higher despite missing quarterly earnings and revenue estimates.

Meanwhile, smartphone and gadget group Apple finished in the red again, following a sell-off the day before, as brokers across the States moved quickly to slash their price targets after the company's fiscal first-quarter results disappointed. Specifically, Goldman Sachs reduced its target for the stock by $100 to $660m.

After this week's falls, Apple has lost its title of the world's most valuable company by market capitalisation, with Exxon Mobil overtaking the iPhone maker to the number-one spot.

S&P 500 - Risers Netflix Inc. (NFLX) $169.56 +15.46% KLA-Tencor Corp. (KLAC) $56.34 +8.41% VeriSign Inc. (VRSN) $42.96 +7.43% Lam Research Corp. (LRCX) $41.84 +5.87% Priceline.Com Inc. (PCLN) $718.82 +5.78% Halliburton Co. (HAL) $39.72 +5.05% Juniper Networks Inc. (JNPR) $22.57 +4.98% Expedia Inc. (EXPE) $66.49 +4.89% Teradata Corp. (TDC) $69.34 +4.27% Starbucks Corp. (SBUX) $56.81 +4.10% S&P 500 - Fallers Hasbro Inc (HAS) $37.31 -2.96% Yum! Brands Inc. (YUM) $64.63 -2.65% R.R. Donnelley & Sons Co. (RRD) $9.01 -2.59% Actavis Inc (ACT) $84.27 -2.50% Apple Inc. (AAPL) $439.88 -2.36% Mattel Inc. (MAT) $37.15 -2.34% Weyerhaeuser Co. (WY) $30.95 -1.75% Sealed Air Corp. (SEE) $18.62 -1.64% Amerisource Bergen Corp. (ABC) $45.03 -1.51% Newmont Mining Corp. (NEM) $43.36 -1.48% Dow Jones I.A - Risers Procter & Gamble Co. (PG) $73.25 +4.02% JP Morgan Chase & Co. (JPM) $47.16 +1.70% Johnson & Johnson (JNJ) $73.92 +1.12% General Electric Co. (GE) $22.29 +1.09% Merck & Co. Inc. (MRK) $43.46 +1.07% United Technologies Corp. (UTX) $89.79 +0.98% 3M Co. (MMM) $100.59 +0.92% Microsoft Corp. (MSFT) $27.88 +0.90% AT&T Inc. (T) $34.02 +0.80% Walt Disney Co. (DIS) $54.38 +0.80% Dow Jones I.A - Fallers Wal-Mart Stores Inc. (WMT) $69.00 -1.13% Caterpillar Inc. (CAT) $95.58 -1.06% Boeing Co. (BA) $75.03 -0.39% Unitedhealth Group Inc. (UNH) $56.04 -0.32% Coca-Cola Co. (KO) $37.05 -0.16% Hewlett-Packard Co. (HPQ) $16.99 -0.12% Alcoa Inc. (AA) $9.03 -0.11% Nasdaq 100 - Risers KLA-Tencor Corp. (KLAC) $56.34 +8.41% Priceline.Com Inc. (PCLN) $718.82 +5.78% Expedia Inc. (EXPE) $66.49 +4.89% Starbucks Corp. (SBUX) $56.81 +4.10% Amazon.Com Inc. (AMZN) $283.99 +3.79% Autodesk Inc. (ADSK) $38.99 +3.70% Nuance Communications Inc. (NUAN) $23.58 +3.38% Citrix Systems Inc. (CTXS) $71.55 +3.05% Life Technologies Corp. (LIFE) $63.49 +2.97% eBay Inc. (EBAY) $56.53 +2.43% Nasdaq 100 - Fallers Apple Inc. (AAPL) $439.88 -2.36% Mattel Inc. (MAT) $37.15 -2.34% Randgold Resources Ltd. Ads (GOLD) $94.77 -1.39% Monster Beverage Corp (MNST) $46.71 -1.18% QUALCOMM Inc. (QCOM) $63.66 -1.15% Vertex Pharmaceuticals Inc. (VRTX) $46.85 -0.99% Texas Instruments Inc (TXN) $32.80 -0.88% Sba Communications Corp. (SBAC) $71.35 -0.70% Sears Holdings Corp. (SHLD) $45.12 -0.62% Intuitive Surgical Inc. (ISRG) $577.82 -0.55% [Editorial queries for this story should be sent to] ((Comments on this story may be sent to (c) 2013 Electronic News Publishing -

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