Apple Inc (AAPL) and the Home Depot, Inc. (HD) Kept Wall Street Momentum Going

It was another promising sessions for the U.S. Stock market with strong overall performances in all the major indices including S&P 500 and Dow Jones Industrial Average. S&P 500 opened at 1972.73 and closed at 1981.60, merely 10 points lower than its all-time intraday high of 1991.39. S&P registered gains of 9.86 points (0.50%) for the day. Similarly, the Dow Jones Industrial Average rose to 16,919 with a gain of 80.85 points or 0.48% for the day.

Apple Inc. (NASDAQ:AAPL) lead the market from front and crossed $100-mark in the process. Appleā€™s shares witnessed an increase of 1.4% in their prices and closed at $100.53 per share. Apple Inc. (NASDAQ:AAPL) was the prime mover in both indices including NASDAQ and S&P 500. In the quarter ending on June 28, 2014, Apple Inc. (NASDAQ:AAPL) reported net revenue of $37.4 billion as compared to the revenue of $35.3 in the same quarter last year. The net profit rose to $7.7 billion against the net profit of $6.9 billion in the same quarter last year.

Apple (AAPL)

The Home Depot, Inc. (NYSE:HD) was the other primary moves in S&P 500 and its stocks witnessed an increase of 5.6% in share prices. The Home Depot, Inc. (NYSE:HD) stock opened at $88.16 and closed at $88.23 with this being the highest percentage increase in its price since May 2009. The primary reason for this upward rally was an impressive second quarter 2014 result with net earnings of $2.1 billion or $1.52 per share against the net earnings of $1.8 billion during the same period last year. The Home Depot, Inc. (NYSE:HD) reported sales of $23.8 billion for the second quarter. The company raised its diluted EPS for 2014 to $4.52 and has a positive outlook for the year.

This article has been written by Prakash Pandey and edited by Serkan Unal.

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