The major U.S. equity indices closed mixed Tuesday after President Barack Obama and Republican leaders reached an agreement on tax cuts, as well as allowing for extra time for unemployment benefits.
Oil prices reached above $90 per barrel for the first time in over two years, leading analysts to believe prices may hit above $100 in time.
In corporate news, AutoZone, Inc. (NYSE:AZO) reported a 20% year-over year boost to its Q1 earnings at $172.1 million, or $3.77 per share, up from $143.0 million, or $2.82 per share, in the year-ago period. Quarterly revenue rose from $1.59 billion in the prior year to $1.79 billion. FactSet Research analysts expected earnings of $3.42 per share on revenue of $1.72 billion.
Officials from AGL Resources Inc. (NYSE:AGL) announced plans to acquire Nicor Inc. (NYSE:GAS) for $8.6 billion, or $53.00 per share.
The Dow Jones Industrial Average (DJI) closed 0.03% lower at 11,359.16, the S&P500 (INX) closed 0.05% higher at 1,223.75, and the Nasdaq Composite (IXIC) closed 0.14% higher at 2,598.49.
Stocks Upgrades
Dollar General Corp. (NYSE:DG) upgraded to Buy from Hold at Think Equity...
Dreams, Inc (AMEX:DRJ) initiated at Buy at Merriman...Examworks Group (NYSE:EXAM) initiated at Outperform at William Blair...
Acadia Realty Trust (NYSE:AKR) initiated at Outperform at FBR Capital...
Bottomline Technologies (NASDAQ:EPAY) initiated at Outperform at William Blair...
Cedar Shopping Centers (NYSE:CDR) initiated at Outperform at FBR Capital...
Eagle Rock Energy (NASDAQ:EROC) upgraded to Outperform from Sector Perform at RBC Capital...
GlaxoSmithKline (NYSE:GSK) upgraded to Neutral from Underperform at Credit Suisse...
Gold Fields (NYSE:GFI) upgraded to Overweight from Neutral at HSBC...
Novartis (NYSE:NVS) upgraded to Outperform from Neutral at Credit Suisse...
Seagate Technology (NASDAQ:STX) initiated at Buy at Citigroup...
Western Digital (NYSE:WDC) initiated at Buy at Citigroup...
