Disney, Kraft, IBM: Dow Movers
NEW YORK (TheStreet) -- U.S. stocks soared Tuesday as global worries subsided and first-quarter earnings season continued to exceed expectations.
The Dow Jones Industrial Average rose 194 points, or 1.5%, to close at 13,115 on Tuesday. The S&P 500 increased 1.6% to 1391 and the Nasdaq Composite gained 1.8% to 3043.
Breadth within the Dow was positive with all 30 of the index's components posting gains.
Shares of Walt Disney rose 2.45% to $42.68. The media company is going to produce the third Iron Man movie in China, according to The Wall Street Journal.
TheStreet Ratings gives Walt Disney an A- grade with a buy rating and $48.68 price target.
Kraft Foods shares increased 2.39% to $38.48. TheStreet Ratings gives Kraft Foods an A+ grade with a buy rating and $47.27 price target.
Shares of IBM rose 2.33% to $207.45 during the trading day but pulled back in the extended session after Big Blue's first-quarter earnings report.
TheStreet Ratings gives IBM an A+ grade with a buy rating and $266.87 price target.
Dow component Intel(INTC) topped Wall Street's earnings view for the first quarter but the company forecast a sequential decline in non-GAAP gross margins in the second quarter.
Shares of the world's biggest chip maker rose 6 cents, or 0.23%, in regular trading on Tuesday to $28.47 but dropped 2% in the extended session.
Shares of Coca-Cola rose 2.08% to $73.95. The beverage company reported first-quarter net income of $2.05 billion, or 89 cents a share, up from year-earlier earnings of $1.9 billion, or 82 cents.
Coca-Cola's stock hit a 52-week high Tuesday of $74.48. The stock's 52-week low of $63.34 was set on Oct. 4.
TheStreet Ratings gives Coca-Cola an A grade with a buy rating and $83.41 price target.
Johnson & Johnson shares rose 24 cents, or 0.38%, to $64.22. The consumer goods and drugs company reported first-quarter earnings excluding special items Tuesday of $3.8 billion, or $1.37 a share. Analysts, on average, were expecting earnings of $1.35 a share.
Though Johnson & Johnson's profit beat estimates, its global sales fell 2.4% in the first quarter.
TheStreet Ratings gives Johnson & Johnson a B- grade with a buy rating and $74.09 price target.
--Written by Alexandra Zendrian in New York.
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