NEW YORK (Reuters) - U.S. Pink stocks Tuesday after several reports of higher than expected fourth-quarter earnings and prospects involving the S & P 500 index courses to align three straight sessions of decline.
Builder Lennar Corp. (LEN)(N) sudden 9.3 20.65% $ after the posting of a significantly higher than expected fourth-quarter profit.
"Lennar had many." Builders was obviously an area which was very low, and for the guys who had a good number, which helped, said Stephen Massocca, managing director of Wedbush Morgan, in San Francisco.
Index Dow Jones us Home Construction (.)(DJUSHB) has increased from 3.9% and PHLX housing sector index (.)(HGX) gained 2.4%.
Stocks are aligned in recent weeks in part on the optimism about the benefits of stronger companies, with the S & P up to 8% since the beginning of December.
However, the reference S & P 500 has lost ground over the past three sessions, leading some analysts to question whether if stocks had become expensive or whether withdrawal means stocks climb again rolled into the new salary.
"It gets a bit frothy." "No matter what stock few who has a little wiggle it a bunch of guys are piling in it," said Massocca.
Sears Holding Corp. (SHLD)(O) the estimates rose 6.8% to $75.39 after chain store its prospects of profit above Wall Street, citing sales.
The Dow Jones industrial average (.)(DJI) has increased 53.32 points, 0.46%, to 11,690.77. The Standard & Poor 500 Index (.)(SPX) acquired 6.28 points, or 0.49 percent, at 1,276.03. Nasdaq Composite Index (.)(IXIC) added 11.36(2) points, or 0.42 per cent, to 2,719.16.
Alcoa Inc. (AA).(N) posted quarterly earnings that exceeded Wall Street expectations even though some missed income average estimate of analysts. The actions of the manufacturer of aluminium dropped 1.2% at $16.28.
Alcoa provides a 12% increase in demand for aluminum this year, which some analysts questioned, but other benefits taken could be factor. Alcoa shares had increased by 24% since the beginning of December.
Chain supermarkets Supervalu Inc (SVU.)(N) crumpled 11.5% $ 7.60 after the posting of third-quarter adjusted profit missed expectations.
(Statement by Chuck Mikolajczak;) (Editing by Kenneth Barry)
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