U.S. shares soar amid higher than expected corporate earnings

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Source: Dukascopy Bank SA
U.S. equities advanced, halting their earlier declines, on better-than-expected profits that offset growing concerns over the euro-are falling into a debt crisis. The S&P 500 climbed 0.1% to 1,512.12. Six out of ten groups in the benchmark index edged higher. Among the best performing blue chip companies was First Solar that rose as much as 7.3% to $31.13 to cap gains in technology shares that were 0.2% down, pairing the biggest decline in the index. Furthermore, Wyndham Worldwide Corporation, a hospitality company, rallied 6.8% to $60.01 and supported consumer services group that surged 0.1%. Ralph Lauren Corporation followed with a 5.89% increase to close at $174.63 as the retailer posted better-than-estimated third quarter earnings supported by lower expenses and cotton prices. Alongside to that, C.H. Robinson Worldwide Inc. halted further increase in the S&P 500 index, as its shares slumped 9.7% to $60.50 after the company posted lower-than-expected profits, to cap further gains in the telecommunications group.
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Thu, 07 Feb 2013 07:54:04 GMT

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