Market Close Wrap-Up Jan 27, 2010 - Green Mountain Coffee (NASDAQ:GMCR), Qualcomm (NASDAQ:QCOM)
Last updated January 27, 2010: 4:30 PM ET --- The major U.S. equity indices closed higher Wednesday after the Federal Reserve issued an upbeat assessment of the economy. The Fed issued a statement that said it believes "economic activity has continued to strengthen" since its last meet in December. However, it did not repeat its assertion that the housing market is improving. The Fed also said that it is leaving interest rates near zero, which was expected. The Commerce Department reported that sales of new homes fell 7.6% in December, which brought on concerns over how fast the economy is recovering. In corporate news, Green Mountain Coffee Roaster (NASDAQ:GMCR) reported fiscal Q1 EPS of 27 cents, ahead of the consensus estimates of 16 cents per share. Revenues for the quarter rose 77% year-over-year to $349.4 million, topping the consensus estimates of $329.6 million. Shares of Qualcomm (NASDAQ:QCOM) are down 5.5% in after hours trading Wednesday after the company reported fiscal Q1 EPS of $0.62, ex-items, beating consensus estimates of $0.56. Revenues for the quarter rose 6% year-over-year to $2.67 billion, narrowly missing consensus estimates of $2.70 billion. The Dow Jones Industrial Average (DJI) closed 0.41% lower at 10,236.16, the S&P500 (INX) closed 0.49% lower at 1,097.50, and the Nasdaq Composite (IXIC) close 0.80% lower at 2,221.41.
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