Earnings Drive Stocks Higher
Jan 22nd 2013 3:30PM
Updated Jan 22nd 2013 4:35PM
It's a big earnings week, and so far stock markets are starting it off on the right foot. The Dow Jones Industrial Average is up 0.27% as of 3:20 p.m. EST, and the S&P 500 has gained 0.26%.
DuPont and Travelers kicked of this week's earnings with relatively strong results. DuPont reported flat revenue of $7.3 billion and earnings of $0.12 per share, which was down 70% from a year ago. But after a terrible earnings report last quarter, the expectations for DuPont were low, and both results beat expectations. The stock has climbed 1.6% on the news.
Travelers has jumped 2.2% after reporting earnings per share of $0.72, crushing analyst estimates of $0.14. The company has been increasing premiums for customers across the board, citing volatile weather patterns as the reason. The company also booked a gain of $146 million on money previously set aside for claims from prior quarters.
Boeing is one of the big losers on the market today, dropping 1.2% after the company suspended deliveries of its 787 Dreamliner. The FAA and other aviation regulators around the world have grounded the aircraft until the cause of two fires aboard Dreamliners can be discovered and resolved. This has become a big headache for Boeing and investors, and prospective investors should be cautious. But if shares continue to fall, the stock may be worth a closer look.
The opportunities for Boeing, which is a major player in a multitrillion-dollar market, are massive. However, the company's execution problems and emerging competitors have investors wondering whether Boeing will live up to its shareholder responsibilities. In this premium research report, two of the Fool's best industrial-sector minds have collaborated to provide investors with the must-know info on Boeing. They'll update the report as key news hits, so be sure to claim a copy today by clicking here now.
Earnings season continues at a fast pace over the next two days, with Google and Apple catching the eye of nearly every investor. Google reports after the close today and could give us an indication of where mobile and search trends are headed, while Apple will tell us how its quarter went tomorrow. Stay tuned for the response from Wall Street.
The article Earnings Drive Stocks Higher originally appeared on Fool.com.Fool contributor Travis Hoium manages an account that owns shares of Apple. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw. The Motley Fool recommends Apple and Google. The Motley Fool owns shares of Apple and Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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