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Wall Street Rises on Earnings after Big Sell-Off

iconJul 20, 2011 09:55
Source:SMM
U.S. stocks opened higher on Tuesday on earning reports after Monday's sell-off.

NEW YORK, Jul. 20 -- U.S. stocks opened higher on Tuesday on earning reports after Monday's sell-off.

Bank of America posted its second-quarter loss of 90 cents a share from previous 27 cents a share, in line with market's consensus.

Goldman Sachs reported its second-quarter profit 1.85 dollars a share, below the expectations of 2.27 dollars a share, from last year's 78 cents a share.

The world's biggest soda maker Coca-Cola posted second-quarter earnings of 1.17 dollars versus the average analyst estimate of 1.16 dollars.

Johnson & Johnson said its second-quarter profit of 1.28 dollars a share. The average analyst estimate was 1.24 dollars a share, from last year's 1.21 dollars.

The Dow Jones industrial average gained 120.56 points, or 0.97 percent, to 12,505.72. The Standard & Poor's 500 was up 12.16 points, or 0.93 percent, to 1,317.62. The Nasdaq Composite Index rose 36.68 points, or 1.33 percent, to 2, 801.79.

 

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