Wall Street Climbs On Greek Hope, Citigroup (NYSE: C) Rallies

US stocks climbed Tuesday amid hopes that Greece will take appropriate actions toward averting a sovereign-debt default. 

The Dow Jones Industrial Average rose 109.63 points, or 0.91%, to finish at 12,190.63. The S&P 500 climbed 17.16 points, or 1.34%, to close at 1,295.52. The Nasdaq Composite rallied 57.60 points, or 2.19%, to 2,687.26.

The market expected a vote of confidence in Greek Prime Minister George Papandreou new cabinet to pass on Tuesday -- the first of three hurdles the government must clear to avert the euro zone's first sovereign debt default. A successful vote could reassure investors that the country will push through budget cuts required for getting the latest installment of emergency loans. Worries that a default by Greece could upend financial markets have kept investors on edge since early May.

The National Association of Realtors reported Tuesday that existing home sales fell 3.8% to an annualized rate of 4.81 million in May from a rate of 5 million in April.

Meanwhile, the Federal Reserve Open Market Committee started its two-day meeting Tuesday. The central bank's interest rate decision will be announced on Wednesday.

Walgreen Co. (NYSE: WAG) reported Tuesday that its first-quarter profit rose to $603 million, or 65 cents a share, from $463 million, or 47 cents a share, in the prior-year quarter. Revenue rose 6.8 percent to $18.38 billion from $17.20 billion. Analysts, on average, expect the company to report earnings of 62 cents per share on revenue of $18.33 billion. The company also said that contract renewal negotiations with pharmacy benefit manager Express Scripts, Inc. (NASDAQ: ESRX) have been unsuccessful, and as a result the company is planning not to be part of Express Scripts' pharmacy provider network as of Jan. 1, 2012. Shares of the company slumped $1.90, or 4.21%, to close at $43.28.

Carnival Corporation (NYSE: CCL) reported that its second quarter profit dropped to $206 million, or 26 cents per share, from $252 million, or 32 cents per share, in the year-ago quarter. Revenue rose to $3.6 billion from $3.3 billion. Analysts, on average, expected the company to report earnings of 23 cents per share on revenue of $3.52 billion. Shares of the company surged $1.51, or 4.23%, to $37.24.

Shares of Citigroup, Inc. (NYSE: C) rallied $1.15, or 3.01%, to close at $39.31. 

European stocks closed higher. The UK FTSE rose 81.92 points, or 1.44% to 5,775.31. The German DAX and French CAC increased 1.89% and 2.04% respectively.

Asian stocks finished down. The Nikkei 225 climbed 105.34 points, or 1.13%, to 9,459.66. The Hang Seng index of Hong Kong rose 251.08 points, or 1.16%, to 21,850.59.

Full Disclosure: None.

Wall Street Ends Mixed On Recovery Hopes, Nvidia (NASDAQ: NVDA) Slumps

US stocks finished mixed on Thursday as investors remained cautious amid uncertainty surrounding a resolution of the Greek debt crisis. 

The Dow Jones Industrial Average rose 42.84 points, or 0.36%, to finish at 12,004.36. The S&P 500 increased 3.86 points, or 0.30%, to close at 1,271.50. The Nasdaq Composite climbed 7.22 points, or 0.28%, to 2,616.48.

Early on Friday, Greece named former defense minister Evangelos Venizelos as new finance minister. He will replace George Papaconstantinou as finance minister.

The Conference Board said Friday that its index of leading economic Indicators rose 0.8% in May. Economists had expected a gain of 0.4%.

The Reuters/University of Michigan consumer sentiment survey for June dropped to a reading of 71.8, worse than the 73.5 reading that economists had expected.

Research In Motion Limited (NASDAQ: RIMM) said late Thursday that its fiscal first quarter profit dropped to $695 million, or $1.33 per share, from $769 million, or $1.38 per share, in the year-earlier quarter. Revenue increased 16% to $4.9 billion from $4.24 billion.Analysts, on average, expected the company to report earnings of $1.32 per share on revenue of $5.15 billion. uring the quarter, RIM shipped approximately 13.2 million BlackBerry handheld devices and approximately 500,000 BlackBerry Playbook tablets. The company slashed its full-year EPS forecast range to $5.25 to $6 per share; it had previously expected earnings of $7.50 per share for the period. The company also said it plans to cut an unspecified number of jobs and will buy back up to 5% of its outstanding shares. Shares of the company slumped $7.58, or 21.45%, to $27.75.

Shares of Nvidia Corp. (NASDAQ: NVDA) slumped 39 cents, or 2.38%, to close at $15.81. 

European stocks closed higher. The UK FTSE rose 16.13 points, or 0.28% to 5,714.94. The German DAX and French CAC increased 0.76% and 0.83% respectively.

Asian stocks finished down. The Nikkei 225 declined 59.88 points, or 0.68%, to 9,351.40. The Hang Seng index of Hong Kong fell 257.85 points, or 1.17%, to 21,695.26.

Full Disclosure: None.

Wall Street Ends Volatile Session Mixed, General Electric (NYSE: S) Gains

US stocks finished mixed on Thursday as inveastors remained cautious amid aging uncertainty about Greece.

The Dow Jones Industrial Average rose 64.25 points, or 1.54%, to finish at 11,961.52. The S&P 500 increased 2.22 points, or 0.18%, to close at 1,267.64. The Nasdaq Composite decreased 7.76 points, or 0.29%, to 2,623.70.

The Labor Department reported Thursday that jobless claims declined by 16,000 to 414,000 in the week ended June 11. Economists had expected claims to drop to 421,000.

Meanwhile, the Commerce Department reported that housing starts rose 3.5% in May to a seasonally adjusted annual rate of 560,000. Building permits rose 8.7% to a seasonally adjusted rate of 612,000. Both the data beat expectations. 

Ford Motor Co. (NYSE: F) slumped 32 cents, or 2.43%, to $12.83 on Thursday after the Wall Street Journal reported that Ford VP and Controller Robert Shanks said told analysts yesterday that the company’s second quarter profits  will probably be about the same or a little lower than the first quarter, which would put its second quarter profit below Wall Street estimates. The company also expects pre-tax profits to shrink in the second half of the year, as Ford spends more on growing its brands and commodities and seasonal costs  rise.

Finisar Corp. (NASDAQ: FNSR) sank $2.89, 0r 16.30%, to $14.84 on Thursday a day after the company reported disappointing earnings report and offered downbeat outlook.  

Shares of General Electric Co. (NYSE: GE) rose 20 cents, or 1.10%, to close at $18.44. 

European stocks closed lower. The UK FTSE dropped 43.74 points, or 0.76% to 5,698.81. The German DAX and French CAC decreased 0.07% and 0.38% respectively.

Asian stocks finished down. The Nikkei 225 declined 163.04 points, or 1.70%, to 9,411.28. The Hang Seng index of Hong Kong fell 390.66 points, or 1.75%, to 21,953.11.

Full Disclosure: None.

Wall Street Slides On Greek Debt Worries, Citigroup (NYSE: S) Slumps

US stocks finished lower on Wednesday as escalating worries over Greece's debt crisis dampened investor sentiment.

The Dow Jones Industrial Average dropped 178.84 points, or 1.48%, to finish at 11,897.27. The S&P 500 slumped 22.45 points, or 1.74%, to close at 1,265.42. The Nasdaq Composite plummeted 47.26 points, or 1.27%, to 2,631.46.

Euro zone finance ministers failed to make progress on discussions about Greek aid and protests against austerity measures turned violent in Athens. Senior EU officials said a deal was now unlikely to be reached at a summit next week and was likely to be delayed

until mid-July.

The Labor Department reported Wednesday that consumer price index rose 0.2% in May. Economists expected consumer inflation to rise by 0.1% in May.

Meanwhile, a report from the Federal Reserve showed that industrial production rose 0.1% in May, while capacity utilization climbed to 76.7% last month.

The New York Fed's Empire State general business conditions index dropped to minus 7.79 from positive 11.88 the month before. Economists phad expected a gain to 12.50.

Boston Scientific Corp. (NYSE: BSX) rallied 19 cents, or 2.82%, to $6.93 on Wednesday after bigger rival Johnson & Johnson (NYSE: JNJ) announced that it plans to stop making Cypher drug-coated heart stents and end development of a new model in a restructuring that will close two factories and cut as many as 1,000 jobs.

Shares of Citigroup, Inc. (NYSE: C) slumped 78 cents, or 2.01%, to close at $38. 

European stocks closed higher. The UK FTSE dropped 60.58 points, or 1.04% to 5,742.55. The German DAX and French CAC decreased 1.25% and 1.49% respectively.

Asian stocks finished mixed. The Nikkei 225 climbed 26.53 points, or 0.28%, to 9,574.32. The Hang Seng index of Hong Kong fell 152.23 points, or 0.68%, to 22,343.77.

Full Disclosure: None.

Wall Street Rallies On Upbeat Data, Ford (NYSE: F) Jumps

US stocks finished higher on Tuesday as better-than-expected economic data bolstered investor sentiment.

The Dow Jones Industrial Average rallied 123.14 points, or 1.03%, to finish at 12,076.11. The S&P 500 jumped 16.04 points, or 1.26%, to close at 1,287.87. The Nasdaq Composite surged 39.03 points, or 1.48%, to 2,678.72.

The Commerce Department said Tuesday that retail sales slipped 0.2% in May. Economists had expected retail sales to drop 0.5% last month.

Meanwhile, the Labor Department said that producer price index increased 0.2% in May, slightly better than the 0.1% that economists had forecast.

On the earnings front, Best Buy Co. (NYSE: BBY) reported Tuesday that its fiscal first-quarter profit dropped to $136 million, or 35 cents a share, from $155 million, or 36 cents, in the prior-year quarter. Revenue rose 1.4% to $10.9 billion $10.79 billion. Analysts, on average, expected the company to report earnings of 33 cents per share on revenue of $10.69 billion.  

J. C. Penney Company, Inc. (NYSE: JCP) soared more than 17% after the department store operator named Apple retail executive Ron Johnson as its next chief executive officer, succeeding Mike Ullman in that role. 

Shares of Ford Motor Co. (NYSE: F) rallied 29 cents, or 2.21%, to close at $13.43. 

European stocks closed higher. The UK FTSE rose 29.67 points, or 0.51% to 5,803.13. The German DAX and French CAC increased 1.69% and 1.50% respectively.

Asian stocks finished mixed. The Nikkei 225 climbed 99.58 points, or 1.05%, to 9,547.79. The Hang Seng index of Hong Kong fell 12.08 points, or 0.05%, to 22,496.

Full Disclosure: None.

Wall Street Ends Little Changed, Sirius XM (NASDAQ: SIRI) Slumps

US stocks finished mixed on Monday as renewed worries about about Europe's debt crisis spooked investors.

The Dow Jones Industrial Average rose 1.06 points, or 0.01%, to finish at 11,952.97. The S&P 500 increased 0.85 points, or 0.07%, to close at 1,271.83. The Nasdaq Composite retreated 4.04 points, or 0.15%, to 2,639.69.

Credit agency Standard & Poor's on Monday downgraded its rating on Greece to "CCC." S&P also kept its negative outlook on Greece.

Wendy's/Arby's Group Inc. (NYSE: WEN) on Monday announced that it would sell Arby's Restaurant Group Inc. to a buyer formed by private equity firm Roark Capital Group in a deal valued at $430 million. Wendy's/Arby's will retain an 18.5% interest in Arby's. The deal comes after Wendy's/Arby's said it was exploring strategic alternatives for Arby's. Wendy's/Arby's Group expects that Arby's will be reported as a discontinued operation in Wendy's/Arby's Group's second quarter results. The transaction is expected to close in the third quarter. Shares of the company rose 4 cents, or 0.88%, to $4.56.

Timberland Co. (NYSE: TBL) on Monday agreed to be acquired by VF Corporation (NYSE: VFC) for $43 a share, representing a total enterprise value of about $2 billion net of cash acquired. The share price for Timberland represents a 10% premium to its three-month trading value. Shares of the company surged $13.21, or 44.05%, to $43.20.

Shares of Sirius XM Radio Inc. (NASDAQ: SIRI ) surged 9 cents, or 4.50%, to close at $1.91. 

European stocks closed higher. The UK FTSE rose 7.66 points, or 0.13% to 5,773.46. The German DAX and French CAC increased 0.22% and 0.07% respectively.

Asian stocks finished mixed. The Nikkei 225 fell 66.23 points, or 0.70%, to 9,448.21. The Hang Seng index of Hong Kong rose 87.71 points, or 0.39%, to 22,508.08.

Full Disclosure: None.

National Semiconductor (NYSE: NSM): Q4 2011 Earnings Roundup

National Semiconductor (NYSE: NSM) late Thursday reported that its fiscal fourth-quarter profit declined to $67.1 million, or 26 cents a share, from $79.2 million, or 33 cents a share, in the prior-year quarter. Revenue dropped to $374.1 million from $398.5 million. Analysts, on average, had expected earnings of 27 cents a share on revenue of $365.2 million.

"Business conditions were a little better than we expected in the quarter," said Don Macleod, National's chief executive officer. "With bookings up 21%, the first increase for three quarters, we were able to get back to meaningful quarterly revenue growth."

Full disclosure: None.

Wall Street Ends Higher On Trade Data, Citigroup (NYSE: C) Rallies

US stocks finished higher on Thursday after a government report showing record U.S. exports in April eased some concerns about a stalled economic recovery.

The Dow Jones Industrial Average rose 75.42 points, or 0.63%, to finish at 12,124.36. The S&P 500 climbed 9.44 points, or 0.74%, to close at 1,289. The Nasdaq Composite advanced 9.49 points, or 0.35%, to 2,684.87.

A release by Department of Labor on Thursday showed number of Americans filing first- time claims for unemployment benefits rose 1,000 to 427,000 in the latest week. Economists had expected initial claims to decline to 419,000.

The Commerce Department reported Thursday hat US trade deficit narrowed by 6.7% in April to $43.7 billion. The trade deficit was well below the consensus forecast of Wall Street economists of a deficit of $48.0 billion.

Shares of Mosaic Co. (NYSE: MOS) rallied $3.18, or 4.84%, to $68.84 after a USDA WASDE report showed lower-than-expected 2011/2012 corn ending stocks. 

Shares of Citigroup, Inc. (NYSE: C) rallied 96 cents, or 2.61%, to close at $37.77. On Thursday, Citigroup reported a data breach of roughly 3% -- or 210,000 -- of the bank's online accounts in North America. 

NYMEX crude oil for July delivery climbed $1.19, or 1.2%, to settle at $101.93 a barrel.

European stocks closed down. The UK FTSE rose 47.45 points, or 0.82% to 5,856.34. The German DAX and French CAC increased 1.41% and 1.06% respectively.

Asian stocks finished mixed. The Nikkei 225 rose 17.69 points, or 0.19%, to 9,467.15. The Hang Seng index of Hong Kong dropped 51.80 points, or 0.23%, to 22,609.83.

Full Disclosure: None.

Wall Street Drops On Growth Worries, Sirius XM (NASDAQ: SIRI) Slumps

US stocks dropped on Wednesday as investors remain concerned about signs of an economic slowdown.

The Dow Jones Industrial Average slipped 21.87 points, or 0.18%, to finish at 12,048.94. The S&P 500 declined 5.38 points, or 0.42%, to close at 1,279.56. The Nasdaq Composite retreated 26.18 points, or 0.97%, to 2,675.38.

LDK Solar Co.Ltd. (NYSE: LDK) reported late Tuesday that its first-quarter profit jumped to $135.4 million, or 95 cents per American Depositary share, from $7.2 million, or 6 cents per ADS, in the prior-year quarter. Revenue climbed to $766.3 million from $347.6 million a year earlier. Analysts, on average, expected the company to report earnings of 86 cents per share on revenue of $769.45 million. Shares of the company slumped 53 cents, or 7.46%, to close at $6.57.

Molycorp, Inc. (NYSE: MCP) plunged $5.49, or 9.35%, to $53.21 after the company announced that, subject to market conditions, certain of its selling stockholders intend to offer 10,000,000 shares of Molycorp's common stock in a registered public offering. In addition, the selling stockholders intend to grant the underwriters of the Common Stock an option to purchase an additional 1,500,000 shares of the Common Stock.

Shares of Sirius XM Radio Inc. (NASDAQ: SIRI) slumped 12 cents, or 5.58%, to close at $2.03.

Crude Oil prices rallied nearly 2% to settle near $101 a barrel after OPEC failed to reach an agreement on crude production levels.

European stocks closed down. The UK FTSE fell 55.76 points, or 0.95% to 5,808.89. The German DAX and French CAC decreased 0.92% and 0.88% respectively.

Asian stocks finished mixed. The Nikkei 225 rose 6.51 points, or 0.07%, to 9,449.46. The Hang Seng index of Hong Kong dropped 207.04 points, or 0.91%, to 22,661.63.

Full Disclosure: None.

Wall Street Drops After Bernanke Comments, Cisco (NASDAQ: CSCO) Slumps

US stocks finished lower on Tuesday after bearish comments from Federal Reserve Chairman Ben Bernanke spooked investors.

The Dow Jones Industrial Average fell 19.15 points, or 0.16%, to finish at 12,402.76. The S&P 500 slipped 1.23 points, or 0.10%, to close at 1,284.94. The Nasdaq Composite retreated 1 point, or 0.04%, to 2,701.56.

In a speech on Tuesday, Federal Reserve chairman Ben Bernanke acknowledged that economic growth this year has been slower than expected. But he said growth should pick up in the second half of the year if gas prices "moderate" and the supply disruptions stemming from the disaster in Japan fade. Bernanke twice called the job market "far from normal" and conceded, "the economy is still producing at levels well below its potential."

Shares of Intel Corp. (NASDAQ: INTC) climbed 23 cents, or 1.06%, to $22.06 after Citigroup said in a research note that the  world’s largest chipmaker may be forming a “foundry relationship” with Apple Inc. (NASDAQ: AAPL). 

Shares of Cisco Systems, Inc. (NASDAQ: CSCO) dropped 48 cents, or 3%, to close at $15.51.

European stocks closed up. The UK FTSE rose 1.49 points, or 0.03% to 5,864.65. The German DAX and French CAC increased 0.14% and 0.22% respectively.

Asian stocks finished mixed. The Nikkei 225 rose 62.60 points, or 0.67%, to 9,442.95. The Hang Seng index of Hong Kong droped 80.89 points, or 0.35%, to 22,868.67.

Full Disclosure: None.

Wall Street Climbs As Technology Stocks Rally, General Electric Co. (NYSE: GE) Gains

US stocks finished higher on Thursday as a rally in technology sector helped offset disappointing reports on economic growth and the labor market.

The Dow Jones Industrial Average rose 8.10 points, or 0.07%, to finish at 12,402.76. The S&P 500 added 5.22 points, or 0.40%, to close at 1,325.69. The Nasdaq Composite climbed 21.54 points, or 0.78%, to 2,782.92.

In its second estimate of quarterly gross domestic product released Thursday, the Commerce Department said the U.S. economy expanded at the same 1.8% clip that was initially forecast. Economists had been expecting GDP growth to be revised up to 2.2% for the January-March quarter. The economy had expanded at a 3.1% rate in the fourth quarter.

A release by Department of Labor on Thursday showed that number of Americans filing first- time claims for unemployment benefits rose 10,000 to 424,000 in the latest week.

Tiffany & Co. (NYSE: TIF) reported Thursday that its first-quarter earnings rose to $81.1 million, or 63 cents a share, from $64.4 million, or 50 cents a share, in the year-earlier quarter. On an adjusted basis, the company earned 67 cents a share in the latest quarter. Revenue rose by 20% to $761 million. Analysts, on average, expected the company to report earnings of 57 cents per share on revenue of $703.32 million. Sharesof the company surged $6, or 8.57%, to $76.04.

Microsoft Corporation (NASDAQ: MSFT) rose 48 cents, or 1.98%, to $24.67 on Thursday after hedge-fund investor David Einhorn called for Microsoft Corp.’s board to replace Chief Executive Officer Steve Ballmer, saying the software maker suffers from “Charlie Brown management.”

Shares of General Electric Co. (NYSE: GE) rose 20 cents, or 1.04%, to close at $19.42.

European stocks closed mixed. The UK FTSE rose 10.85 points, or 0.18% to 5,880.99. The German DAX and French CAC decreased 0.79% and 0.30% respectively.

Asian stocks finished higher. The Nikkei 225 rose 139.17 points, or 1.48%, to 9,562.05. The Hang Seng index of Hong Kong added 153.51 points, or 0.67%, to 22,900.79.

Full Disclosure: None.

Wall Street Ends Higher As Oil Rallies, DryShips (NASDAQ: DRYS) Soars

US stocks finished higher on Wednesday as a rally in oil prices helped offset worries about the global economic recovery.

The Dow Jones Industrial Average rose 38.45 points, or 0.31%, to finish at 12,394.66. The S&P 500 added 4.19 points, or 0.32%, to close at 1,320.47. The Nasdaq Composite climbed 15.22 points, or 0.55%, to 2,761.38.

The Commerce Department reported Wednesday that orders of durable orders  fell 3.6% last month, versus a forecasted 2% decline.

NYMEX crude oil for July delivery rallied $1.73 or 1.7% to close at $101.32 a barrel.

Polo Ralph Lauren Corp. (NYSE: RL) said Wednesday that its fiscal fourth-quarter profit dropped to $73.2 million, or 74 cents a share, from $114.1 million, or $1.13 a share, in the year-ago quarter. Revenue increased 7.1% to $1.38 billion. Analysts, on average, expected the company to report earnings of 79 cents a share on revenue of $1.41 billion. Shares of the company sank $14.69, or 11.35%, to close at $114.70.

Suntech Power Holdings Co. Ltd. (NYSE: STP) reported Wednesday that its first-quarter profit rose to $31.9 million, or 17 cents per American Depository Share or ADS, compared to $20.71 million, or 11 cents per share, in the prior-year quarter. Revenue climbed to $877.00 million from $588.03 million last year. Analysts, on average, expected the company to report earnings of 36 cents per share on revenue of $864.82 million. Shares of the company slumped 25 cents, or 3.26%, to $7.41.

Shares of DryShips, Inc. (NASDAQ: DRYS) rallied 12 cents, or 3.31%, to close at $3.75.

European stocks closed up. The UK FTSE rose 11.73 points, or 0.20% to 5,870.14. The German DAX and French CAC increased 0.28% and 0.31% respectively.

Asian stocks finished lower. The Nikkei 225 fell 54.29 points, or 0.17%, to 9,422.88. The Hang Seng index of Hong Kong added 16.50 points, or 0.07%, to 22,747.28.

Full Disclosure: None.

Wall Street Slides On Growth Worries, Sprint Nextel (NYSE: S) Rallies

US stocks finished lower on Monday as as lingering worries about a slowdown in growth more than offset gains in energy shares.

The Dow Jones Industrial Average slipped 25.05 points, or 0.20%, to finish at 12,356.21. The S&P 500 shed 1.09 points, or 0.08%, to close at 1,316.28. The Nasdaq Composite dropped 12.74 points, or 0.46%, to 2,746.16.

The Commerce Bureau reported Tuesday reported Tuesday that new home sales rose 7.3% to an annual rate of 323,000 units in April. Economists were looking for an annual rate of 300,000 sales for April.

Medtronic, Inc. (NYSE: MDT) said Tuesday that its fourth-quarter profit declined to $776 million, or 72 cents a share, from $954 million, or 86 cents a share, in the prior-year quarter. Revenue climbed to $4.30 billion, from $4.20 billion a year ago. Analysts, on average, expected the company to report earnings of 93 cents per share on revenue of $4.29 billion. Shares of the company lost 38 cents, or 0.92%, to close at $40.088. 

El Paso Corporation (NSE: EP) jumped more than 6% after the company announced that its Board of Directors has granted initial approval of a plan to separate the company into two publicly traded businesses by year end 2011. The company also raised its full-year adjusted earnings outlook to $1 to $1.10 a share. It previously expected to earn 90 cents to $1.05 a share. El Paso also boosted its guidance because its results to date have exceeded expectations. Shares of the company soared $1.24, or 6.53%, to close at $20.22.

Shares of Sprint Nextel Corp. (NYSE: S) soared 27 cents, or 4.85%, to close at $5.84.

European stocks closed down. The UK FTSE rose 22.52 points, or 0.39% to 5,858.41. The German DAX and French CAC increased 0.41% and 0.25% respectively.

Asian stocks finished lower. The Nikkei 225 fell 146.45 points, or 1.52%, to 9,460.63. The Hang Seng index of Hong Kong added 19.76 points, or 2.11%, to 22,711.02.

Full Disclosure: None.

Wall Street Slides On Eurozone Worries, Citigroup (NYSE: C) Slumps

US stocks finished lower on Monday as renewed worries about indebted euro zone spooked investors. 

The Dow Jones Industrial Average fell 130.78 points, or 1.05%, to finish at 12,381.26. The S&P 500 declined 15.90 points, or 1.19%, to close at 1,317.37. The Nasdaq Composite dropped 44.42 points, or 1.58%, to 2,758.90.

On Friday, international rating agency Fitch downgraded Greece's credit rating by three notches to "highly speculative," putting it in junk bond territory. In addition, Standard & Poor's cut Italy's outlook to 'negative' from 'stable.' 

Krispy Kreme Doughnuts Inc. (NYSE: KKD) reported Monday that fiscal first quarter profit rose to $9.17 million, or 13 cents a share, from $4.47 million, or 6 cents a share, in the year-earlier quarter. Revenue grew 14% to $104.6 million. Analysts, on average, expected earnings of 9 cents on revenue of $97 million. Shares of the company soared $1.65, or 25.78%, to $8.05.

Campbell Soup Co. (NYSE: CPB) said that its  fiscal third-quarter earnings climbed to $187 million, or 57 cents a share, from $168 million, or 49 cents a share, in the year-ago quarter. Revenue increased 0.6% to $1.81 billion. Shares of the company fell 29 cents, or 0.82%, to close at $34.95.

Shares of Citigroup, Inc. (NYSE: C) slumped 86 cents, or 2.10%, to close at $40.16.

European stocks closed down. The UK FTSE slipped 112.60 points, or 1.89% to 5,835.89. The German DAX and French CAC decreased 2% and 2.10% respectively.

Asian stocks finished lower. The Nikkei 225 fell 146.45 points, or 1.52%, to 9,460.63. The Hang Seng index of Hong Kong decreased 488.37 points, or 2.11%, to 22,711.02.

Full Disclosure: None.

Wall Street Climbs As Oil Rallies, Intel (NASDAQ: INTC) Gains

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

The Dow Jones Industrial Average rose 80.60 points, or 0.65%, to finish at 12,560.18. The S&P 500 climbed 11.70 points, or 0.88%, to close at 1,340.68. The Nasdaq Composite increased 31.79 points, or 1.14%, to 2,815.

Dell Inc. (NASDAQ: DELL) reported Tuesday that its first-quarter profit surged to $945 million, or 49 cents a share, from $341 million, or 17 cents a share, in the year-ago quarter. On an adjusted basis, the company earned 55 cents a share in the latest quarter. Revenue grew by 1% to $15 billion from $14.87 billion. Analysts, on average, expected the company to report earnings of 43 cents per share on revenue of $15.40 billion. 

Shares of Intel Corp. (NASDAQ: INTC) rose 33 cents, or 1.40%, to close at $23.88.

Oil prices rallied $3.19, or 3.3%, to $100.10 a barrel, after the Energy Department's weekly oil inventory report showed U.S. crude supplies remained unchanged last week. Analysts had expected a 550,000-barrel build.

Meanwhile, the Federal Reserve's April meeting minutes showed mild divisions among the Fed's key central bankers on when to begin raising interest rates and whether inflation is a real threat. 

European stocks closed up. The UK FTSE rose 62.49 points, or 1.07% to 5,923.49. The German DAX and French CAC increased 0.65% and 0.92% respectively.

Asian stocks finished higher. The Nikkei 225 climbed 95.06 points, or 0.99%, to 9,662.08. The Hang Seng index of Hong Kong increased 110.06 points, or 0.48%, to 23,011.14.

Full Disclosure: None.

Wall Street Drops On Earnings Worries, Alcoa (NYSE: AA) Slumps

US stocks finished lower on Monday as downbeat corporate earnings spooked investors.

The Dow Jones Industrial Average dropped 68.95 points, or 0.55%, to finish at 12,479.42. The S&P 500 slipped 0.49 points, or 0.04%, to close at 1,328.98. The Nasdaq Composite rose 0.90 points, or 0.03%, to 2,783.21.

The Commerce Department reported Tuesday that housing starts slumped a worse-than-expected 10.6% in April. 

Maanwhile, the Federal Reserve said industrial production was flat in April due in part to the Japanese earthquake. Economists were expecting a gain in the industrial production figures.

Wal-Mart Stores Inc. (NYSE: WMT) said Tuesday that its fiscal first-quarter profit rose to $3.4 billion, or 97 cents a share, from $3.3 billion, or 87 cents, in the prior-year quarter. Revenue increased 4.4% to $103.4 billion.  Analysts, on average, expected Wal-Mart to earn 94 cents a share on revenue of $102.8 billion. Shares of the retail giant declined 60 cents, or 1.07%, to $55.46.

Home Depot Inc., (NYSE: HD) reported that its fiscal first-quarter net income increased 12% to $812 million, or 50 cents a share, from $725 million, or 43 cents, in the year-ago quarter. Analysts, on average, expected the company to report earnings of 49 cents per share on revenue of $17.02 billion. Shares of the home improvement retailer rose 41 cents, or 1.11%, to $37.39.

Hewlett-Packard Co. (NYSE: HPQ) reported Tuesday that its fiscal second-quarter profit rose slightly to $2.3 billion, or $1.05 a share, from $2.2 billion, or 91 cents a share, in the year-earlier quarter. On an adjusted basis, the company earned $1.24 a share in the latest quarter. Revenue increased by about 3% to $31.63 billion from $30.85 billion. Shares of the pc maker sank $2.95, or 7.41%, to close at $36.85.

Shares of Alcoa Inc. (NYSE: AA) slid 47 cents, or 2.78%, to close at $16.45.

European stocks closed down. The UK FTSE fell 62.69 points, or 1.06% to 5,861. The German DAX and French CAC declined 1.77% and 1.21% respectively.

Asian stocks finished mixed. The Nikkei 225 rose 8.72 points, or 0.09%, to 9,567.02. The Hang Seng index of Hong Kong dropped 59.55 points, or 0.26%, to 22,9901.08.

Full Disclosure: None.

Wall Street Slips On Economic Worries, DryShips (NASDAQ: DRYS) Sinks

US stocks finished lower on Monday as mounting economic worries dented investor confidence.

The Dow Jones Industrial Average dropped 47.38 points, or 0.38%, to finish at 12,548.37. The S&P 500 shed 8.30 points, or 0.62%, to close at 1,329.47. The Nasdaq Composite declined 46.16 points, or 1.63%, to 2,782.31.

The New York Fed reported Monday that its Empire State manufacturing index dropped to 11.9 in May from 21.7 in April. Economists expected the index to drop to 18 in May.

The National Association of Homebuilders said its May index of builder confidence was unchanged from the previous month at 16, matching consensus.

J.C. Penney Co. (NYSE: JCP) reported Monday that its fiscal first-quarter profit climbed to $64 million, or 28 cents a share, from $60 million, or 25 cents, in the prior-year quarter. Revenue increased 0.4% to $3.94 billion from $3.93 billion. Analysts, on average, expected the company to report earnings of 25 cents per share on revenue of $3.95 billion. Shares of the company slumped $1.23, or 3.20%, to close at $37.21.

Shares of Sirius XM Radio Inc. (NASDAQ: SIRI) slumped more than 2% after the company said in an SEC filing that through Dec. 31, it won’t raise the price of its basic satellite radio service, other programming packages or its Internet streaming services. Sirius XM also said existing subscribers will be able to renew their subscription plans at current rates. Sirius XM also said it won’t object to requests to reimburse the lawsuit plaintiff for $13 million in legal fees and expenses.

Shares of DryShips, Inc. (NASDAQ: DRYS) sank 31 cents, or 7.05%, to close at $4.09. 

European stocks closed down. The UK FTSE fell 2.18 points, or 0.04% to 5,923.69. The German DAX and French CAC declned 0.21% and 0.72% respectively.

Asian stocks finished lower. The Nikkei 225 fell 90.47 points, or 0.94%, to 9,558.30. The Hang Seng index of Hong Kong dropped 315.64 points, or 1.36%, to 22,960.63.

Full Disclosure: None.

Wall Street Drops As Dollar Climbs, Ford (NYSE: F) Declines

US stocks dropped on Friday as a strengthening in the dollar sent commodity-related and financial shares lower.

The Dow Jones Industrial Average dropped 100.17 points, or 0.79%, to finish at 12,595.75. The S&P 500 shed 10.88 points, or 0.81%, to close at 1,337.77. The Nasdaq Composite declined 34.57 points, or 1.21%, to 2,828.47.

The Commerce Department reported Friday that consumer prices rose at an annual rate of 3.2% in April. Core prices rose a lesser 0.2%. 

Meanwhile, the University of Michigan's preliminary consumer sentiment survey for May rose to 72.4, from 69.8 in April. Economists were looking for a reading of 69.5.

DryShips Inc.(NASDAQ: DRYS) said late Thursday that its first quarter net income rose to $25.8 million, or 7 cents per share, from $13.3 million, or 4 cents per share, in the prior-year quarter. On an adjusted basis, the company earned 15 cents per share in the latest quarter. Revenue rose 6.8% to $207.4 million. DryShips shares slumped 28 cents, or 5.98%, to close at $4.40.

Shares of Ford Motor Co. (NYSE: F) dropped 18 cents, or 1.18%, to close at $15.08.

European stocks closed lower. The UK FTSE fell 19.09 points, or 0.32% to 5,925.87. The German DAX and French CAC declned 0.55% nd 0.11% respectively.

Asian stocks finished mixed. The Nikkei 225 decreased 67.88 points, or 0.70%, to 9,648.77. The Hang Seng index of Hong Kong rose 202.51 points, or 0.88%, to 23,276.27.

Full Disclosure: None.

Wall Street Falls As Commodities Drop, Citigroup (NYSE: C) Slumps

US stocks closed lower on Wednesday as energy and materials stocks were particularly hit hard by a sell-off in oil futures.

The Dow Jones Industrial Average dropped 139.41 points, or 1.10%, to finish at 12,584.17. The S&P 500 shed 12.22 points, or 0.91%, to close at 1,335.10. The Nasdaq Composite declined 13.51 points, or 0.48%, to 2,814.72.

The Commerce Department reported Wednesday that the U.S. trade deficit widened to $48.2 billion in March. Economists were looking for a $47.7 billion trade deficit.

Walt Disney Co. (NYSE: DIS) reported late Tuesday that its fiscal second-quarter profit slipped 1% to  $942 million, or 49 cents a share, compared with a year-ago profit of $953 million, or 48 cents a share. Revenue increased 6% to $9.08 billion from $8.58 billion. Analysts, on average, expected the company to report earnings of 56 cents per share on revenue of $9.13 billion. Shares of the company slumped $2.39, or 5.44%, to $41.52.

Macy's Inc. (NYSE: M) reported Wednesday that its first-quarter profit jumped to $131 million, or 30 cents a share, from $23 million, or 5 cents, in the year-ago quarter. Revenue increased 5.7% to $5.89 billion. Same-store sales rose 5.4%. The company also lifted its full-year same-store sales growth guidance to a gain of about 4.3% from a prior forecast of a 3% increase. Earnings per-share guidance is raised to a range of $2.40 to $2.45 a share, compared with previous outlook of $2.25 to $2.30. The company also doubled its quarterly dividend to 10 cents a share. Shares of the company surged $2.03, or 7.71%, to close at $28.36.

Shares of Citigroup, Inc. (NYSE: C) slumped $1.28, or 2.90%, to close at $42.92. 

Molycorp Inc. (NYSE: MCP) reported late Tuesday that its first quarter net loss narrowed to $909,000, or 3 cents a share, compared with a loss of $7.7 million, or 16 cents a share, in the year earlier quarter. On an adjusted basis, the company earned 1 cent per share in the latest quarter. Revenue surged to $26.3 million, an increase of 21% sequentially and 770% year over year. Analysts, on average, expected the company to post earnings of 10 cents per share on revenue of $41.68 million. Molycorp sank $3.81, or 5.73%, to $62.66.

European stocks closed mixed. The UK FTSE fell 42.89 points, or 0.71% to 5,976. The German DAX fell 0.09% while French CAC increased 0.14%.

Asian stocks finished mixed. The Nikkei 225 rose 45.50 points, or 0.46%, to 9,864.26. The Hang Seng index of Hong Kong fell 44.20 points, or 0.19%, to 23,291.80.

Full Disclosure: None.

Wall Street Climbs On Upbeat Earnings, Sirius XM (NASDAQ: SIRI) Soars

US stocks closed higher on Tuesday as solid corporate earnings reports and economic data bolstered investor sentiment.

The Dow Jones Industrial Average dropped 139.41 points, or 1.10%, to finish at 12,584.17. The S&P 500 shed 12.22 points, or 0.91%, to close at 1,335.10. The Nasdaq Composite declined 13.51 points, or 0.48%, to 2,814.72.

Microsoft Corp. (NASDAQ: MSFT) on Tuesday announced that it has agreed to acquire Skype Global S.a r.l for $8.5 billion in cash from the investor group led by Silver Lake. The company said that Skype will support Microsoft devices like Xbox and Kinect, Windows Phone and a wide array of Windows devices, and Microsoft will connect Skype users with Lync, Outlook, Xbox Live and other communities. Microsoft shares dropped 16 cents, or 062%, to $25.67.

Meanwhile, the Wall Street Journal reported that search giant Google Inc. (NASDAQ: GOOG) is supposedly entering the music cloud business. Google shares rose $4.98, or 0.93%, to $542.66.

Shares of Sirius XM Radio Inc. (NASDAQ: SIRI) soared 17 cents, or 7.55%, to close at $2.35.

Boston Scientific Corp (NYSE: BSX) sank 69 cents, or 8.95%, to $7.02 Chief Executive Ray Elliot said that he will step down at the end of 2011.

On Tuesday, China's General Administration of Customs announced that China's monthly trade rose $11.43 billion surplus in April from $1.68 billion surplus recorded in the same month last year.

European stocks closed higher. The UK FTSE rose 76.20 points, or 1.28% to 6,018.89. The German DAX and French CAC increased 1.23% and 1.13% respectively.

Asian stocks finished higher. The Nikkei 225 rose 24.38 points, or 0.25%, to 9,818.76. 

Full Disclosure: None.