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US stocks advanced after conciliatory comments from Russia helped ease... [Derived headline]

August 15, 2014

US stocks advanced after conciliatory comments from Russia helped ease concerns about escalation of the conflict in Ukraine and offset some uninspiring earnings.

Gains were broad, with all but one of the S&P's 10 primary sector indexes rising for the day. An S&P index of healthcare stocks gained 1.2 per cent and led the advance, while an index of energy stocks dragged, slipping 0.5 percent.

Wal-Mart Stores Inc, the nation's largest retailer, reported earnings and revenue that met expectations. But the company cut its forecast for coming quarters. The Dow component's stock rose 0.5 percent to $74.39.

Shares of Cisco Systems Inc, another Dow component, fell 2.6 per cent to $24.54. The network equipment maker gave a tepid outlook for its current quarter and announced massive job cuts despite reporting revenue that beat expectations.

Shares of Boeing Co shot up 1.7 per cent to $124.11, making it the Dow's second-biggest gainer. The company said demand for its commercial jetliners was very strong and signalled it is getting close to deciding whether to further accelerate output.

The price of Berkshire Hathaway Inc's Class A stock crossed $200,000 for the first time in the latest milestone for the company that Warren Buffett has built over nearly five decades. Berkshire Hathaway closed at $202,850, up 1.8 per cent on the New York Stock Exchange.

Shares of Monster Beverage Corp soared 30 per cent to $71.65 in extended-hours trading on news the energy drink maker entered a long term partnership with Coca-Cola Co.


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Source: Herald, The (Scotland)


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