Stocks Rally On Bargains as Michael Kors Holdings (KORS) Soars On Another Huge Earnings Beat

Michael Teague |

Stocks rallied modestly in Tuesday’s trading session as investors rushed in to snap up some of the discounts that were left in the wake of Monday’s carnage.

 

The Final Tally:

  • Standard & Poor’s 500: +0.85 percent to 1,756.69

  • Dow Jones Industrial Average: +0.55 percent to 15,458.05

  • Nasdaq: +0.92 percent to 4,033.79

 

Our Top Stories:

On the S&P 500:

Tech stocks rose on heavy volume, with Cisco Systems (CSCO) , Facebook (FB) , AT&T (T) and Yahoo! (YHOO) all up about 2 percent. Financials and services were also higher by the closing bell, with Michael Kors Holdings (KORS) up over 17 percent after releasing another spectacular earnings report, and JPMorgan Chase (JPM) and Citigroup (C) also trading higher.

On the Dow:

The day’s rally was least beneficial to the Dow, with industrial giants Boeing (B) and United Technologies ($UTX) down about one percent each. On the top end, however, pharmaceutical companies were the name of the game, with Merck & Co. (MRK) and Pfizer Inc. ($PFZ) both up 2.75 percent.

On the Nasdaq:

Plug Power Inc (PLUG) was one of the day’s best performing tech stocks, with a gain of 15 percent, but the company was still behind semiconductor manufacturer ATMI Inc., whose shares saw a 25 percent increase. Meanwhile, Zynga Inc. (ZNGA) extended it’s rally, adding another two percent, while BlackBerry (BBRY) was up by almost six percent.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
FB Facebook Inc. 140.34 0.81 0.58 16,664,683 Trade
C Citigroup Inc. 58.07 0.02 0.03 13,504,446 Trade
JPM JP Morgan Chase 87.29 -0.10 -0.11 16,093,237 Trade
UTX United Technologies Corporation 111.80 -0.04 -0.04 2,249,660 Trade
CSCO Cisco Systems Inc. 34.08 0.12 0.35 18,125,090 Trade
B Barnes Group Inc. 49.74 -0.56 -1.11 176,216 Trade
ZNGA Zynga Inc. 2.80 -0.01 -0.36 4,035,700 Trade
YHOO Yahoo! Inc. 46.40 -0.20 -0.43 5,607,667 Trade
MRK Merck & Company Inc. (new) 63.18 -0.10 -0.16 9,136,531 Trade
KORS Michael Kors Holdings Limited 37.56 0.33 0.89 1,163,302 Trade
T AT&T Inc. 41.68 0.03 0.07 14,202,031 Trade
BBRY BlackBerry Limited 7.07 -0.04 -0.56 2,654,515 Trade
PLUG Plug Power Inc. 1.36 0.08 6.25 6,103,867 Trade
NWSKF Newstrike Capital Inc n/a n/a n/a 0

Comments

Emerging Growth

Pressure Biosciences Inc

Pressure BioSciences Inc is a biological life sciences research company. It is engaged in the development and commercialization of a platform technology called pressure cycling technology.

Private Markets

Cross Campus

With over 500 members and operating 80,000 square feet by summer 2016, Cross Campus is one of the country’s top ten shared, collaborative office or "coworking" operators in the US.…

Knightscope

Autonomous security robots providing advanced detection capabilities at $7 per hour - aiming to define the future of security. Help #StopTheViolence.