January 25, 2013 at 17:29 PM EST
Upbeat Earnings Lifts Markets To Higher Close
Upbeat earnings lifted the markets to a higher close with the Dow gaining 70 points to 13,895. Nasdaq rose 19 points to 3149.
On the upside
Oshkosh (Nasdaq: OSK) reported higher first quarter earnings that beat analyst expectations and lifted its full year earnings guidance.
Second quarter earnings slipped for Synaptics (Nasdaq: SYNA) but the results were better than expected prompting upgrades.
On the downside
Macquarie Group analyst Jasper Burch wrote that MGIC Investment (NYSE: MTG) was over valued and recommended that investors sell the stock. ScanScource (Nasdaq: SCSC) reported lower second quarter earnings and forecast current quarter results below expectations.
Shares of Apple (Nasdaq: AAPL) continued falling after reporting disappointing iPhone sales.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 index gained 8 points to 1502.
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