Earnings enthusiasm pushed stocks above the classic technical resistance levels as the bulls took control of the market. Surprisingly strong housing figures combined with the upbeat earnings guided shares solidly higher on the day. Word of Warren Buffett earning billions on his long Goldman Sachs play further added to the optimistic tone. The DJIA soared 187.65, the Nasdaq advanced 47.22, and the S&P 500 climbed 22.22. Related Quotes Symbol Price Change AMZN 93.87 0.00 ASH 31.20 0.00 BDK 33.72 0.00 MSFT 25.56 0.00 OXPS 15.45 0.00 SLB 57.77 0.00 TROW 46.26 0.00 {"s" : "amzn,ash,bdk,msft,oxps,slb,trow","k" : "c10,l10,p20,t10","o" : "","j" : ""} Tool maker, Black & Decker (NYSE:BDK - News), announces earnings before the bell Friday with an expected EPS of 37 cents/share. The Short Term PowerRating for BDK is 2. Chemical giant, Ashland (NYSE:ASH - News), is predicted to see an EPS of 92 cents for the fiscal third quarter prior to the opening of trading on Friday. The Short Term PowerRating for ASH is 3
Retail option broker, OptionsXpress (NasdaqGS:OXPS - News) is expecting to see second quarter earnings of 25 cents/share Friday morning before the bell. The Short Term PowerRating for OXPS is 5. T. Rowe Price (NasdaqGS:TROW - News) announces its second quarter results before trading opens on Friday with forecast earnings of 34 cents. The Short Term PowerRating for TROW is 2.
NEW YORK (AP) -- Small-business lender CIT Group Inc. said Friday it has sweetened some terms of a buyback offer for $1 billion of debt and repeated that it may have to seek bankruptcy protection if enough noteholders don't agree to it. Related Quotes Symbol Price Change CIT 0.92 +0.18 LUK 23.09 -0.25 {"s" : "cit,luk","k" : "c10,l10,p20,t10","o" : "","j" : ""} The New York-based financial company said in a regulatory filing that if the offer is successful it won't file for bankruptcy and will pursue a restructuring through other unspecified ways. CIT Group, one of the nation's largest lenders to small and midsize businesses, has been scrambling to find new fu
from yahoo Warren Buffett tells CNBC that the economy still isn't showing any signs of life but that doesn't mean investors should stay away from stocks for the long-term. In a live interview on Squawk Box this morning, Buffett says "business is still flat." But he stresses that doesn't mean he's negative on stocks, predicting the market will revive before the economy does. "The market is very, very likely to turn up before business. But I don't try and time stocks. I try to price stocks."