S&P 500: +9.15 (+1.04%)
Wal-Mart Stores (WMT) -1.86%
Wal-Mart reported first-quarter earnings that were in line with analysts estimates. CEO Mike Duke said the company believes customers who shop at Wal-Mart today will stay with it when economic conditions improve because of the business improvements its making.
Johnson Controls (JCI) +5.48%
Johnson Controls gained after Wachovia Capital Markets upgraded the auto parts maker to outperform. The research note said “recent restructuring efforts should enhance operating leverage and boost earnings significantly in 2011 and 2012.”
The report also said it expects the company to reduce debt by the end of 2011 and suggested they have the financial flexibility to make an acquisition if the opportunity arises.
Quick Hits
Peter Lazaroff, Junior Analyst
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