Investors sent stocks higher on Tuesday after a batch of positive earnings reports were released this morning. Further aiding the markets was the 10-year treasury yield pulling back after surging to new 2013 highs Monday.
In corporate news, Best Buy (NYSE:BBY) reported second quarter earnings of $266 million, or 77 cents per share, as revenue fell slightly to $9.3 billion. Excluding one-time items, the company earned 32 cents per share, easily topping Wall Street estimates of just 12 cents per share. And Home Depot (NYSE:HD) reported second quarter earnings climbed to $1.8 billion, or 1.24 per share, as revenue climbed to $22.5 billion. The company topped Wall Street estimates for both earnings and sales in the second quarter, pushing the stock higher on Tuesday.
After the bell, investors will see earnings reports from Intuit (NASDAQ:INTU), La-Z-Boy (NYSE:LZB) and Analog Devices (NASDAQ:ADI). And on Wednesday morning, before the opening bell, investors will have earnings reports from American Eagle Outfitters (NYSE:AEO), JM Smucker (NYSE:SJM) and Lowe's (NYSE:LOW).
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