Stocks Ended up on Earnings and EU Greek Deal

U.S. stocks closed sharply higher Thursday, lifted by strong quarterly earnings results, and a plan by European Union leaders to broaden their financial aid package for Greece. The Dow Jones Industrial Average closed up 152.50 points, or 1.21%, to 12,724.41. The S&P 500 gained 17.96 points, or 1.35%, to 1,343.80. The Nasdaq Composite added 20.20 points, or 0.72%, to 2,834.43.

Eurozone leaders on Thursday agreed a sweeping deal that will grant Greece a massive new bailout and make radical changes to the currency union’s bailout fund, allowing it to act pre-emptively when crises build up.

Microsoft Corp reported a greater-than-expected 30 percent increase in fiscal fourth-quarter profit on Thursday, helped by sales of its Office software, but profit from its core Windows product fell on soft personal computer sales. The world’s largest software company posted net profit of $5.87 billion, or 69 cents per share, compared with $4.52 billion, or 51 cents per share, in the year -ago quarter.Sales rose 8 percent to $17.37 billion, ahead of analysts’ average estimate of $17.23 billion.

Advanced Micro Devices on Thursday reported a second-quarter profit of $61 million, or 8 cents a share, compared with a loss of $43 million, or 6 cents a share in the year-earlier period. Revenue was $1.57 billion, down from $1.65 billion. Adjusted income was 9 cents a share.

Freight services provider Landstar System Inc. said Thursday that second-quarter profit rose on higher prices.Landstar reported net income of $29.6 million, or 62 cents per share, compared with $24.4 million, or 49 cents per share, a year earlier. Revenue increased to $675.6 million from $641.7 million a year ago.

Informatica Corp’s second-quarter results beat estimates, helped by increased demand for its products. For the second quarter, the company earned $26.2 million, or 23 cents a share, compared with $17.4 million, or 17 cents a share, a year ago.

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