Market Wrap: Cook Mimics Jobs Well; Wal-mart Gets Compliant; Home Prices Show Stabilization


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April 24, 2012 6:13 PM EDT Send to a Friend
Market wrap-up for April 24th

End of the Day: Dow Jones up 74.4 to 13,001.56; Nasdaq down 8.9 to 2,961.60; S&P 500 up 5.0 to 1,391.97

The following is a brief summary of events moving markets today:
  • Tim Cook HAS to be an anagram for Steve Jobs: Apple (Nasdaq: AAPL) reported second-quarter EPS of $12.30 on revs of $39.2 billion, versus consensus views calling for EPS of $10.06 and revs of $36.81 billion. Gross margin was 47.4 percent compared to 41.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.

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  • What? Us? Bribe? No...couldn't be!: Following news of a bribery scandal over the weekend, Wal-Mart (NYSE: WMT) moved to create a new Global FCPA Compliance Officer position as well as several other initiatives to ensure the retail giant remains in-line with international law. For more, click here.

  • We choose you, Kurt Mix!: The U.S. formally made the first criminal charges against a former BP plc (NYSE: BP) engineer related to the Deepwater Horizon incident in 2010. Reports out Tuesday say Kurt Mix, formerly a drilling and completions engineer for BP, was charged with destroying evidence which showed the amount of oil leaking into the Gulf of Mexico following the incident. Mix was accused of deleting potentially important text messages between himself and a superior which contained "sensitive internal BP information collected in real-time."

  • 'Sup, homes?: Prices of single-family homes fell for the 12-months ended in February, according to new data from S&P/Case-Shiller on Tuesday.

    The firm's Home Price Index declined nearly 3.5 percent from 135.23 in January to 134.20 in February, the smallest 12-month drop since February 2011. Economists were looking for a drop of 3.4 percent. Prices slipped 3.9 percent for the 12-months ended January.

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  • In other earnings: AT&T (NYSE: T) reported revs of $31.25 billion and EPS of 60 cents, compared with consensus views calling for revs of $31.85 billion and EPS of 57 cents.

    Baidu.com (NASDAQ: BIDU) produced revs of $677.1 million and EPS of 87 cents, mixed to consensus views calling for revs of $677.5 million and EPS of 84 cents.
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