Intel shares rise on earnings. Wall Street ends the day mostly higher, lifted by energy stocks. Bobbi Rebell reports.
Intel earnings hitting expectations lifting its shares in after hours trading. But first quarter revenue coming in flat from a year ago. Intel is still seeing weak demand for PCs that use the company's chips. And CSX stock rose after hours when its results came in stronger than forecasts, and boosted its dividend and share repurchase program. Stocks were mostly higher on Tuesday, the Dow and S&P 500 boosted by energy stocks and earnings that topped modest expectations. Strong performances in trading and investment banking drove JPMorgan's quarterly profit up 12 percent. Wells Fargo boosted its mortgage originations, but profits were down for the first time in five years, because of higher employee costs- which hurt margins. S&P Capital IQ bank analyst Erik Oja: SOUNDBITE: ERIK OJA, BANK ANALYST, S&P CAPITAL IQ (ENGLISH) SAYING: "My overall view of Wells Fargo is they're really executing well in terms of net interest income and in terms of loan growth, but I'm concerned about net interest margin. It's fallen many quarters over the last five years." Two of the telecom equipment industry's weakest players are considering getting together. Nokia is in talks to buy Alcatel-Lucent. The news sent Nokia shares down and Alcatel up. J.C. Penney learning the hard way that politicians aren't the only ones getting in trouble with their e-mail slip ups. The retailers said a senior executive inadvertently disclosed its same store sales had risen about six percent in an e-mail to an analyst, forcing it to publicly disclose the financial information earlier than planned, and file paperwork with the Securities and Exchange Commission. Google stock fell. European Union regulators are going to file formal charges against the company stemming from an anti-trust investigation, according to Dow Jones. In economics news, retail sales rose in March for the first time since November. Separately, producer prices inched up after declining in February. And in its most recent global economic forecast, the Washington-based International Monetary Fund, or IMF, said currency shifts will support global economic growth, but warned the economic recovery remains "moderate and uneven." In Europe, news of the Nokia-Alcatel talks couldn't offset concerns over Greece. The major country indexes closed mixed.