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Cirrus Logic, Coach Top Tuesday’s Market Movers

The rundown of the biggest-moving large-cap stocks for Tuesday is actually pretty limited, as just eight stocks saw their prices move 5 percent or more from their morning opens. But a couple of the moves have been dramatic. We’ll start the rundown with the five large-cap companies that were among the biggest gainers in terms of perctnage on the day 0 four of them released their earnings reports today.

Cirrus Logic, Inc. (NASDAQ:CRUS)


Goodyear Tire (NYSE:GT) is up more than 10 percent to $11.35, despite an earnings report that missed estimates and included tempered guidance for the year. Any positives that might affect the rpice is that the company stated it would reach $450 million in segment income, which was above the previous forecast.

U.S. Steel (NYSE:X) was up nearly 9 percent Tuesday after releasing its earnings report that beat expectations. However, the company gave soft guidance on the rest of the year, citing weakened demand and thus impending price drops.

Cummins (NYSE:CMI) was up more than 6 percent to $96 after posting an earnings report that beat estimates, especially the EPS line. Cummins projected no significant increase in China demand therough the rest of this year, though just 5 percent of its revenue comes from that emerging market.

Valero (NYSE:VLO) is up almost 6 percent to $27.60 after it reported its EPS and quarterly revenue numbers easily outdistanced analysts’ estimates. Also, the company announced its intention to split off its retail arm into a separate entity, and it gave guidance that future expenses may be lessened due to some acceleration of projects into this year and not counting them for next year.

Cirrus Logic (NASDAQ:CRUS) didn’t post its earnings today, but it has the biggest jump on the day, up nearly 25 percent to $36.75 after its FQ1 report beat the EPS estimate, but more importantly, the guidance given last night for the second quarter was $60-$80 million more than previously estimated, which many suggest means the company is heavily involved in the new iPhone 5.


Coach (NYSE:COH) was taking an 18 percent bath Tuesday to trade under $49.75 after posting a weak earnings report and revealing that it had to resort to coupons to get rid of inventory i its factory stores. Sales were up only 1.7 percent, which was far below estimates of 6 percent.

Humana (NYSE:HUM\) was down more than 12 percent to $62 after badly missing estimates on its quarterly report and slashing its EPS forecast for the year to $6.90-$7.10, while the Street had estimates at about $7.90.

Lowe’s (NYSE:LOW) is taking a 5-percent loss today to less than $25.50 after it was announced early this morning that it’s buyout bid of Canadian home-improvement company Rona was rejected by the company’s shareholders as not a good deal. No indication was made if Lowe’s would pursue a higher offer for the company or attempt a hostile takeover.

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