CORRECTED-MARKET PULSE-Microsoft, Michael Kors, Google, J.C. Penney, Furiex

Tue Feb 4, 2014 12:14pm EST
 
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(Corrects Wal-Mart item to change currency to C$ from US$. The error also appeared in previous versions of Market Pulse.) U.S. stocks rose on Tuesday, underpinned by a slew of sturdy corporate results, as the market regained its footing following its largest selloff in months a day earlier. The Dow Jones industrial average was up 0.38 percent at 15,430.86, the S&P 500 was up 0.56 percent at 1,751.64 and the Nasdaq Composite was up 0.67 percent at 4,023.7.

** MICROSOFT CORP, $36.75, +0.74 pct

The company named Satya Nadella as its next chief executive on Tuesday, ending a longer-than-expected search for a new leader after Steve Ballmer announced his intention to retire in August. Nadella is only the third CEO in Microsoft's 39-year history, following co-founder Bill Gates and Ballmer.

** MICHAEL KORS HOLDINGS LTD, $92, +19.99 pct

The retailer reported a better-than-expected rise in quarterly results and raised its sales and profit forecast for the year as the demand for its trendy handbags, watches and accessories showed no sign of slowing.

** CISCO SYSTEMS INC, $21.58, +0.14 pct   Continued...