Tuesday, May 3, 2011

Shares of (PCS) (BAC) (JPM) (AVP) (MA) (GM) Jump Today

Shares of MetroPCS Communications (NYSE:PCS), Bank of America (NYSE:BAC), J.P. Morgan Chase (NYSE:JPM), Alcoa (NYSE:AA), Mastercard (NYSE:MA), Avon Products (NYSE:AVP) and General Motors (NYSE:GM) all pushing up today.

A report from MetroPCS Communications set the tone, as it reported that earnings in the first quarter had more than doubled over the same quarter last year. That helped push up shares of Verizon (NYSE:VZ) and AT&T (NYSE:T), as new customer additions broke a quarterly record at the company.

Financials were also moving up today, with banking giants Bank of America, JPMorgan, Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC) all trading positive.

Mastercard jumped on revenue and earnings surpassing expectations for the latest quarter. Profits were up 24 percent year-over-year.

General Motors (GM) got a bump from the 26 percent increase in vehicle sales in April, although that didn't help major competitors like Ford Motor (NYSE:F) or Toyota (NYSE:TM), which were trading down.

Continual but unlikely rumors that Rio Tinto (NYSE:RIO) is looking to acquire Alcoa (NYSE:AA) pushed the share price of the aluminum producer up, up over 3 percent at one point, although pulling back as the day has gone on.

Avon Product soared 5 percent, and has held throughout the day, as the company's earnings in the first quarter were more than triple over last year in the same quarter, while margins improved.

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