NEW YORK (TheStreet) -- U.S. stocks were rallying into the close Friday, with theaDow Jones Industrial Average aasurging nearly 200 points and bouncing back from its worstaone-day drop since July 31 on a string aof upbeataearnings and the upward revision to U.S. growth. The Dow Jones Industrial Average ajumpeda1.02%, butawas on track for a 0.93% decline for the week.aThe S&P 500 agained 0.87%, heading for a more than 1% weekly loss. The Nasdaq awas higher by 0.97%, but also looking to end the week lower by over 1%. Read More: 7 Stocks Warren Buffett Is Selling in 2014 Yahoo! awas up 4.26% and AOL a popped 3.44% after Starboard Value LPaannounced it had acquired a significant ownership stake in Yahoo! and urged the company to explore a strategic combination with AOL. Nikea soareda12.48% afterathe athletic apparel company -- which has become a bellwether for global consumer strengthaand economicaactivity -- stoked investor confidence ahead of the upcoming earningsaseason.aThe companyaposted fiscal first-quarter earningsaof $1.09 a share, up from 86 cents a share a year earlier and above analysts' estimates of 88 cents. Micron Technologya jumped 6.81% after reporting fiscal fourth-quarter earnings and revenue that topped analysts' forecasts. Struggling smartphone maker BlackBerry arose 4.69% after postingaa narrower-than-expected loss of 2 cents a share as the company continues to sharpen its focus on enterprise mobility and security. Must Read: 10 Stocks George Soros Is Buying Apple ashares were recovering after a pronounced dropaon Thursday. The tech giantareleased a new update late Thursday that the tech giant said would repair the problems caused by software it released Wednesday morning. Shares were up 2.49%. The U.S. economy expanded bya4.6% in the second quarter, the government said Friday, matching estimates and coming in higher than the prior estimate of 4.2%. aa The biggest contributor to the upward revision to overall GDP was business investment, noted Paul Ferley, RBC Economics' assistant chief economist. The growth rate for this component was raised to 9.7% from a previously estimated 8.4%, which added an additional 0.2 percentage points to overall second-quarter GDP growth.a "I would take encouragement from this strengthening in business investment," he said. "It implies businesses are confident enough to spend and invest. This reinforces the impression provided by the sustained solid gains in employment so far this year." Ferleyasaid Friday's GDPanumbers are consistent with his view that growth in business investment will rise rise around 6.5% this year and 8% in 2015, up from a 3% gain in 2013. a The final reading on the University of Michigan Consumer Sentiment Index for September held steady at 84.6. a In other news, Pimco founder Bill Grossaannounced Friday he was resigning from the bond giant and would be joining Janus Capital on Monday. Janus surged 37.94% in late Friday afternoon.a GM agained 1.06% after Standard & Poor's raised itsadebt rating on the automaker to investment grade.a Must Read: 10 Stocks Carl Icahn Loves in 2014 -- By Andrea Tse and Kurumi Fukushima in New York Follow @AndreaTTse
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