Google, Citigroup, Caterpillar Ignite Rally on Wall Street
Stocks ended the week with a big rally after well-received earnings, especially from Google, Citigroup and Caterpillar.
The Dow rose +228.87, the Nasdaq Composite +61.14 and the S&P 500 +24.77.
Shares of Google
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PowerRating) soared 20%, leading a broad-based market rally, after the Internet bellwether beat estimates by $0.32.
Citigroup
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PowerRating) gained 4.5% after the banking giant reported a $5.1 billion net loss, missing estimates by $0.07.
Caterpillar
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PowerRating) beat estimates by $0.12 and reaffirmed its full year 2008 earnings guidance of 5% to 10% revenue growth. CAT shares rose 8.5%.
Schlumberger
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PowerRating) jumped 6.9% despite reporting earnings that fell short of expectations by $0.05.
Shares of Honeywell
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PowerRating) climbed 6.3% after the company reported better than expected earnings and raised its outlook.
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