Stocks bounced back Tuesday, a day after suffering a steep drop Monday. The markets took a beating Monday, with the Dow dropping 326 points after key manufacturing data for the United States came in way below Wall Street forecasts.
US data were mixed Tuesday.
The US ISM New York Index rose to 64.4 in January, from 63.8 recorded in December.
Meanwhile, US Factory Orders dropped 1.5% in December, compared with the 1.5% rise in November. This is slightly more positive than market consensus of -1.7%.
Several companies had good news to report Tuesday.
Microsoft (MSFT, Fortune 500) shares were up 0.25% after the company named Satya Nadella to be its new CEO, replacing Steve Ballmer.
Michael Kors (KORS) shares surged 18% after reporting stronger sales and profits than expected.
Shares of KFC-owner Yum! Brands (YUM, Fortune 500) jumped 8.99% after it reported better-than-expected earnings.
J.C. Penney (JCP, Fortune 500) shares fell over 10% to new multi-decade lows even though the struggling retailer reported same-store sales growth for the holiday season.
Twitter (TWTR) was down slightly Tuesday. The company will release its first earnings report as a public company Wednesday.
ARM Holdings (ARMH) reported fourth quarter earnings that disappointed some investors, sending shares 6.22% lower.
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