MARKET PULSE-Microsoft, UBS, Zynga, Furiex, Array Biopharma, Gap
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) 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 0.32 percent at 15,422.57, the S&P 500 was up 0.50 percent at 1,750.54 and the Nasdaq Composite was up 0.68 percent at 4,024.035.
** MICROSOFT CORP, $36.5262, +0.13 pct
The world's largest software maker named 22-year company veteran Satya Nadella as its next chief executive officer on Tuesday, ending a protracted search for a new leader after Steve Ballmer announced his intention to retire in August. Nadella, who led the creation of Microsoft's Internet-based, or "cloud," computing services, is only the third CEO in Microsoft's 39-year history, following co-founder Bill Gates and Ballmer.
** MICHAEL KORS HOLDINGS LTD, $90.35, +17.84 pct
The retailer raised its profit forecast for the year after its trendy handbags and watches proved a hit during the holiday shopping season. Michael Kors, named after its fashion-designer founder, shunned the discounts offered by many of its competitors to record a better-than-expected 77 percent jump in net income for the quarter just ended.
** CISCO SYSTEMS INC, $21.53, -0.09 pct Continued...