Wednesday, April 6, 2011

Wall Street Ends Higher As Technology Stocks Rally, AMD (NYSE: AMD) Rallies

US stocks finished higher on Wednesday as a rally in technology sector buoyed investor sentiment.

The Dow Jones Industrial Average rose 32.85 points, or 0.27%, to finish at 12,426.75. The S&P 500 climbed 2.91 points, or 0.22%, to close at 1,335.54. The Nasdaq Composite added 8.63 points, or 0.31%, to 2,799.82.

Monsanto Co. (NYSE: MON) reported Wednesday that its fiscal second-quarter earnings climbed to about $1 billion, or $1.88 a share, from $887 million, or $1.60 a share, in the year-earlier quarter. On an adjusted basis, the company earned $1.87 a share in the latest quarter. Revenue increased to $4.13 billion from $3.89 billion. Analysts, on average, expected the company to report earnings of $1.85 per share on revenue of $4.15 billion.

Shares of Advanced Micro Devices, Inc. (NYSE: AMD) surged 32 cents, or 3.95%, to $8.43.

European stocks closed up. The UK FTSE rose 34.07 points, or 0.57% to 6,041.13. The German DAX and French CAC increased 0.55% and 0.16% respectively.

Asian stocks finished mixed. The Nikkei 225 fell 31.18 points or 0.32% to 9,584.37. The Hang Seng index of Hong Kong rose 134.47 points or 0.75% to 24,285.05.

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