– National
Wall Street made a moderate advance Tuesday as investors welcomed signs that the Federal Reserve may be close to ending its string of interest-rate hikes.
The Dow Jones Industrial Average rose 55.95, or 0.5 percent, to 10,823.72. The Standard & Poor’s 500 Index gained 7, or 0.6 percent, to 1,267.43. The Nasdaq Composite Index rose 4.05, or 0.2 percent, to 2,265.00.
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– Local
Local movers were led by Daily Journal Corp., which rose 4.9 percent to $43 and Arden Group Inc., which gained 2.1 percent to $88. On the down side, shares of Herbalife Ltd. lost 4.1 percent to $30.59 and Guitar Center Inc. fell 2.4 percent to $53.
Shares of Diodes Inc. jumped 12.5 percent to $32.25 after the semiconductor supplier raised its fourth-quarter outlook due to better-than-expected sales of discrete semiconductor components in Asia and North America. Diodes said it now expects revenue to grow by 10 percent to 12 percent sequentially over third-quarter revenue of $54.2 million, beating analysts’ estimates of $56.11 million.
CKE Restaurants Inc. rose 7.1 percent, to $13.90 after the operator of Hardee’s and Carl’s Jr. restaurants reported late Monday that third-quarter profit rose to 23 cents a share, more than the 21-cent average analyst estimate.
Ryland Group Inc. rose 2.7 percent to $73.96 after its board authorized the repurchase of $250 million of common stock in addition to the 380,000 shares already authorized. The announcement was made late Monday.
