Stocks ended the day higher as Apple’s earnings helped propel the Nasdaq up more than 2%. The market also reacted positively to the Fed’s latest meetings as Bernanke reiterated that the central bank will take action to help the economy if needed. The Fed decided they will keep its key interest rate unchanged until late 2014 and they also increased their outlook for economic growth to 2.4-2.9%.
The Dow ended the day up 89 points, the Nasdaq closed at 68 points and the S&P 500 closed up 18 points.
Skechers USA Inc. (NYSE:SKX) is up 17.29% in after hours trading at $17.50. Skechers stock is jumping after the company announced first quarter earnings. SKX reported a net loss of $0.07 per share, beating estimates of $0.27 per share. The company has a market cap of 745.94 million.
Cirrus Logic Inc. (NASDAQ:CRUS) is up 11.01% in after hours trading at $25.00. CRUS shares closed regular trading at $23.09 with 6.4 million shares traded. CRUS stock jumped today thanks to Apple’s earning. The company has a market cap of 1.48 billion.
Equinix, Inc. (NASDAQ:EQIX) is up 8.42% in after hours trading at $162.05. EQIX shares are rallying in after hours as first quarter profits. Equinix reported net income of $34.5 million or $0.71 per share, up from $25.1 million, or $0.53 per share a year ago. The company has a market cap of 6.97 billion.
Watson Pharmaceuticals, Inc. (NYSE:WPI) is up 5.47% in after hours trading at $73.50. WPI traded 2.9 million shares in regular trading, 1 million shares more than its daily average. Watson announced after market close that will buy Actavis for around 4.25 billion euros. The company has a market cap of 8.86 billion.
Crocs, Inc. (NASDAQ:CROX) is down 9.26% in after hours at $22.00. CROX shares are falling as guidance disappoints. CROX closed regular trading up about 2.5% at $22.04 with 3.24 million shares traded. The company has a market cap of 1.98 billion.
Broadcom Corporation (NASDAQ:BRCM) is down slightly in after hours trading at $36.38. BRCM shares jumped in regular trading by more than 6% after Apple’s earnings. Broadcom is one of Apple’s suppliers. The company has a market cap of 20.10 billion.