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Rally on strong corporate report cards

Tuesday, April 17, 2012 - 01:04

April 17 - Stocks rise on earnings strength, including better than expected numbers from Goldman Sachs, Coca Cola and Johnson & Johnson. Bobbi Rebell reports.

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PLEASE NOTE: THIS EDIT CONTAINS 4:3 MATERIAL Stocks were on the rise Tuesday morning - the Dow up as much as one percent. Investors welcomed a slew of corporate earnings reports. Goldman Sachs reported profits that fell from a year ago but were better than Wall Street forecasts. The investment banking firm raised its dividend to 46 cents a share from 35. Coca Cola hiked some prices and sold more beverages last quarter. That helped the world's largest soft drink maker beat analysts' earnings estimates last quarter. Soft drink sales have been particularly strong in developing markets like India and China - as the middle class continues to grow. Johnson & Johnson's profits also beat forecasts though sales of medical devices and consumer medicines lagged. J&J has been hurt by quality control issues that have triggered the recalls of dozens of over the counter medicines. Bobbi Rebell, Reuters.

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Rally on strong corporate report cards

Tuesday, April 17, 2012 - 01:04