It was another record-breaking day on Wall Street. The Dow closed above 15,000 for the first time and S&P 500 moved deeper into record territory. Stocks were lifted up by better-than-expected data coming out of Germany, a surprise decision to lower interest rates in Australia, and a banner day in Japan where the Nikkei (^N225) climbed 3.6%
Fossil (FOSL) rocked it today rising 9% after reporting earnings. The company posted earnings of $1.10 per share versus estimates of 97-cents. That's an increase of 24% over the same period one year ago. Revenue for the watch and wallet maker was also above consensus. The company is raising its outlook for the full year in part because of improving margins.
BroadSoft (BSFT) climbed 3% after coming out with earnings yesterday afternoon. The company posted earnings of 18-cents a share, easily beating estimates of 11-cents. Revenue was also higher than the consensus. BroadSoft says it's benefiting as customers switch their data storage to the cloud. Shares of BroadSoft plummeted almost 30% in February when the company lowered its outlook, but have been climbing back since then.
There was an extra chill running through the Rockies after Molson Coors (TAP) reported earnings. The beer brewer earned 30-cents a share for the quarter, missing by 4-cents on sales that were also lower than expected. The company cited several reasons for the disappointment including bad weather which it says cut consumption and increased marketing costs.
Meanwhile, clouds seemed to be hanging over First Solar (FSLR). Shares fell nearly 9% after reporting profits 69-cents a share for the quarter, missing estimates by 6-cents, even though revenue beat forecasts. The company is maintaining its guidance for the full year.
MBIA (MBI) shares rose nearly 1% after skyrocketing an astounding 45% yesterday. The stock shot up on the announcement of a $1.7 billion settlement with Bank of America (BAC). MBIA was suing BofA over bad mortgage backed securities dating back to the financial crisis. The spike puts MBIA at a 52-week high, with shares up 75% since the start of the year.
Tesla's (TSLA) drive higher ran out of gas. Shares of the electric car maker fell nearly 7% ahead of earnings due out after the closing bell tomorrow. The company is expected to post its first-ever profit. Shares are up 42% over the past month despite doubts about the company's much ballyhooed leasing program.
- Utility Industry