The Dow Jones Industrial Average (INDEX: ^DJI) roared out of the gate today, rising almost 152 points before late-day selling that left stocks up 83.55 points on the day. That's good for a 0.66% gain. It looks like Greece is on the verge of a bond swap deal that will allow it to avoid default -- for now -- and factory data out of China stayed above the crucial 50 PMI level, which is a sign of industrial expansion rather than of the contraction that was expected.
The rally today was so broad that only three out of the 30 Dow stocks closed in the red:
Percent Change Today
Johnson & Johnson
And the losses on the stocks falling back weren't comparable to many of the winners. Bank of America was up 3.2%, while Hewlett-Packard jumped 2.79%. Even Dow component Microsoft (NAS: MSFT) rose 1.2% even though most news on the company today centered on its layoffs. In the end Microsoft laid off only 200 employees in its marketing department, a small figure for a company with more than 90,000 employees around the globe.
The fact HP was amongst the biggest winners today is fitting, because technology stole the day's media spotlight. Amazon.com (NAS: AMZN) dropped nearly 8% after posting a disappointing outlook for next quarter while Renren (NYS: RENN) fell 9% after seeing its shares surge during January. However, while Renren was a loser today, its fortunes might change tomorrow.
After the bell today, Renren's social networking peer Facebook filed its S-1. The social networking site reported revenues of $3.7 billion last year and profits of $1 billion. That revenue figure is largely in-line with investor expectations, while profits were generally regarded to be as high as $1.5 billion. Still, even with the bottom line coming in short of expectations, Renren is up nearly 5% after-hours.
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At the time thisarticle was published Eric Bleeker owns shares of no companies listed above. The Motley Fool owns shares of Microsoft, Johnson & Johnson, Amazon.com, and Bank of America.Motley Fool newsletter serviceshave recommended buying shares of Chevron, McDonald's, Microsoft, Johnson & Johnson, and Amazon.com.Motley Fool newsletter serviceshave recommended creating a diagonal call position in Johnson & Johnson.Motley Fool newsletter serviceshave recommended creating a bull call spread position in Microsoft. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
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