Boeing (BA) and Google (GOOG) Lead the Pack
Stocks edged higher on Tuesday as investors were cautious about taking new positions in a holiday-shortened week, but shares of jet aircraft manufacturer Boeing Co. (BA.N: Quote, Profile, Research) and Web search leader Google Inc. (GOOG.O: Quote, Profile, Research) hit record highs. Shares of Boeing rose 1.7 percent to an all-time high of $90.64 on the New York Stock Exchange and led the Dow higher after Korean Air Co. (003490.KS: Quote, Profile, Research) said it had ordered 25 aircraft from the company. Google shares also tore through the key $500 level, climbing 2.2 percent to $505.72 and ranking among the Nasdaq's biggest gainers. In recent months, Google has pulled away from its peers on the Internet by posting sustained growth that is three to four times faster than its rivals. At the same time, its closest competitor, Yahoo Inc. (YHOO.O: Quote, Profile, Research) is in turmoil over strategy. The Dow Jones industrial average <.DJI> was up 6.57 points, or 0.05 percent, at 12,323.11. The Standard & Poor's 500 Index <.SPX> was up 2.24 points, or 0.16 percent, at 1,402.74. The Nasdaq Composite Index <.IXIC> was up just 0.96 of a point, or 0.04 percent, at 2,453.68. "The market has soared seven out of the last eight weeks, so it's just a little pause to catch its breath," said Al Goldman, chief market strategist at A.G. Edwards in St. Louis, Missouri. "The nice thing is that the market is handling the profit taking so far in a very positive fashion. The week before Thanksgiving tends to be strong seasonally." U.S. financial markets will be closed on Thursday for Thanksgiving, and the stock market will close early on Friday. Shares of medical device maker Medtronic Inc. (MDT.N: Quote, Profile, Research) shot up 8.8 percent to $53.24 and were the top positive influence on the benchmark S&P 500 index, as the company posted a better-than-expected quarterly profit. Farm equipment maker Deere & Co. (DE.N: Quote, Profile, Research) said quarterly earnings rose a better-than-expected 19 percent on a turnaround in its equipment business, sending shares of the company up 4.7 percent to $93.60.
Shares of upscale department store operator Nordstrom Inc. (JWN.N: Quote, Profile, Research) rose 3.9 percent to $49.32 on the NYSE after it reported quarterly results late on Monday.
Source: Reuters.comLabels: BA, Boeing, DE, GOOG, Google, JWN, MDT, Medtronic, Nordstrom, Stocks
posted by Stock Administrator @ 12:36 PM
Boeing (BA) and Google (GOOG) Lead the Pack
Stocks edged higher on Tuesday as investors were cautious about taking new positions in a holiday-shortened week, but shares of jet aircraft manufacturer Boeing Co. (BA.N: Quote, Profile, Research) and Web search leader Google Inc. (GOOG.O: Quote, Profile, Research) hit record highs. Shares of Boeing rose 1.7 percent to an all-time high of $90.64 on the New York Stock Exchange and led the Dow higher after Korean Air Co. (003490.KS: Quote, Profile, Research) said it had ordered 25 aircraft from the company. Google shares also tore through the key $500 level, climbing 2.2 percent to $505.72 and ranking among the Nasdaq's biggest gainers. In recent months, Google has pulled away from its peers on the Internet by posting sustained growth that is three to four times faster than its rivals. At the same time, its closest competitor, Yahoo Inc. (YHOO.O: Quote, Profile, Research) is in turmoil over strategy. The Dow Jones industrial average <.DJI> was up 6.57 points, or 0.05 percent, at 12,323.11. The Standard & Poor's 500 Index <.SPX> was up 2.24 points, or 0.16 percent, at 1,402.74. The Nasdaq Composite Index <.IXIC> was up just 0.96 of a point, or 0.04 percent, at 2,453.68. "The market has soared seven out of the last eight weeks, so it's just a little pause to catch its breath," said Al Goldman, chief market strategist at A.G. Edwards in St. Louis, Missouri. "The nice thing is that the market is handling the profit taking so far in a very positive fashion. The week before Thanksgiving tends to be strong seasonally." U.S. financial markets will be closed on Thursday for Thanksgiving, and the stock market will close early on Friday. Shares of medical device maker Medtronic Inc. (MDT.N: Quote, Profile, Research) shot up 8.8 percent to $53.24 and were the top positive influence on the benchmark S&P 500 index, as the company posted a better-than-expected quarterly profit. Farm equipment maker Deere & Co. (DE.N: Quote, Profile, Research) said quarterly earnings rose a better-than-expected 19 percent on a turnaround in its equipment business, sending shares of the company up 4.7 percent to $93.60.
Shares of upscale department store operator Nordstrom Inc. (JWN.N: Quote, Profile, Research) rose 3.9 percent to $49.32 on the NYSE after it reported quarterly results late on Monday.
Source: Reuters.com
Shares of upscale department store operator Nordstrom Inc. (JWN.N: Quote, Profile, Research) rose 3.9 percent to $49.32 on the NYSE after it reported quarterly results late on Monday.
Source: Reuters.com
Labels: BA, Boeing, DE, GOOG, Google, JWN, MDT, Medtronic, Nordstrom, Stocks
posted by Stock Administrator @ 12:36 PM
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