U.S. shares on optimism about forth-quarter earnings

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Source: Dukascopy Bank SA
U.S. stocks rallied on Wednesday, sending up the Standard & Poor's 500 index, as optimism among investors rose over the fourth-quarter corporate profits. The S&P 500 index advanced 0.3% to 1,461.02. Six out of ten groups in the benchmark index increased. Seagate Technology surged 6.6% after better-than-forecast revenue data, leading gains in the technology sector that was only 0.07% up. Seagate sales increased to more than $3.6 billion in the second quarter  beating the $3.5 billion forecast. Western Digital Corporation, a disk drives maker, soared 4.3% to $43.80. Meanwhile, Apollo Group Inc., a provider of higher education programs for adults, capped further gains in the consumer services sector, as it paired the biggest decline by erasing 7.8% to $19.32 after company's net income dropped. DeVry Inc. shares lost 4.9%  to $24, also triggered a decrease in the consumer services group. Furthermore, Bank of America slipped 4.6% after Credit Suisse Group AG downgraded its recommendation for the company, triggering a  0.06% decline in the financials shares.
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Thu, 10 Jan 2013 14:10:04 GMT

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