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Published on Feb 17, 2012
The major U.S. equity indices closed mixed Friday as investors earlier today paused ahead of a long weekend that could potentially feature market-moving news from Europe. While Bloomberg Businessweek reported that GM (NYSE:GM) says there will extra costs cuts for its distressed unit in Europe after the last turnaround plan did not stop losses there.
In corporate news, Heinz (NYSE:HNZ) reported fiscal third quarter earnings of $0.95, besting consensus estimates of $0.85 and last year's $0.84, as revenues shot up 40% from a year ago to $2.92 billion, well above estimates of $2.62 billion. The firm also narrowed full-year fiscal 2012 guidance to $3.32-$3.34, from $3.29-$3.39 prior and estimates of $3.32.
Campbell Soup (NYSE:CPB) reported Q2 EPS of $0.64, topping estimates of $0.62. Revenues in the quarter came in at $2.11 billion, slightly short of consensus estimates of $2.12 billion.
The Dow Jones Industrial Average (DJI) closed 0.35% higher at 12949.64, the S&P500 (S&P 500 INDEX,RTH) closed 0.23% higher at 1,361.11, and the Nasdaq Composite (IXIC) closed 0.27% lower at 2,951.78