Stocks Rise on Strong Earnings

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& #8226; National

Stocks rose moderately for a second consecutive session Tuesday on strong earnings at United Technologies Corp. and McDonald’s Corp.


The Dow Jones Industrial Average rose 23.45, or 0.2 percent, to 10,712.22. The S & P; 500 climbed 3.04, or 0.2 percent, to 1,266.86. The Nasdaq Composite Index added 16.78, or 0.8 percent, to 2,265.25.


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& #8226; Local


Local movers were led by UTI Worldwide Inc., which gained 4.6 percent to $95.78 and Reliance Steel & Aluminum Co., which jumped by 4.4 percent to $77.10. On the down side, shares of MannKind Corp. dipped 4.2 percent to $17.06 and Occidental Petroleum Corp. fell 0.8 percent to $90.60.


Shares of Jacobs Engineering Group Inc. soared 7.7 percent to $77.21 after the Pasadena-based engineering firm said its first-quarter profit rose more than 49 percent to 72 cents per share, beating analysts’ estimates. The company also said it expects earnings growth this year to approach 20 percent, excluding expensing for stock options.


Avery Dennison Corp. jumped 3.1 percent to $59.20 after the Pasadena-based office products and adhesive labels manufacturer said it had fourth-quarter profit, excluding some items, of 92 cents a share. That trumped the 84-cent average analyst estimate.


Hanmi Financial Corp. climbed 5.9 percent to $19.32 after the stock of the L.A.-based holding company for Hanmi Bank was added to the S & P; SmallCap 600 Index under the Financials GICS (Global Industry Classification Standard) economic sector and Regional Banks GICS sub-sector.


Capstone Turbine Corp. rose 7.8 percent to $3.72 after the Chatsworth-based manufacturer of microturbine generators said its branded products have been approved by the General Services Administration for sale to the U.S. government. The approval means federal customers can now negotiate and acquire products and services from Capstone.

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