Closing Bell

YRC, Waddell & Reed, Cerner finish higher

Updated: 2013-02-22T23:09:45Z

Regional stocks enjoyed a good day Friday, with YRC, Waddell & Reed, Cerner and Kansas City Life leading a long list of winners.

YRC closed about 3 percent higher, while Waddell & Reed gained more than 2 percent.

Garmin, which was pounded earlier in the week on disappointing earnings news, ended Friday at $35, down another 2 cents.

Layne Christensen and Ferrellgas Partners also closed lower.

Meanwhile, strong earnings from big U.S. companies pushed the Dow Jones industrial average to a rare triple-digit gain Friday, but the S&P 500 index still posted its first weekly loss of the year.

Hewlett-Packard had the biggest gain in the Dow and the Standard & Poor’s 500 index. It posted fiscal first-quarter earnings late Thursday that beat all forecasts, a relief after months of bad news for the computer maker. H-P rose $2.10, or 12.3 percent, to $19.20.

Cabot Oil & Gas Corp. was the S&P 500’s second-best performer, jumping a day after reporting earnings that beat analysts’ expectations. It rose $5.95, or 11.1 percent, to $59.81.

The Dow closed up 119.95 points, or 0.9 percent, at 14,000.57 – its third-biggest gain this year. The S&P 500 rose 13.18 points, also 0.9 percent, to 1,515.60. The Nasdaq composite index rose 30.33, or 1 percent, to 3,161.82.

The BATS 1000 rose 154.79 points, or 0.91 percent, to close at 17,106.93.

The S&P 500 and Nasdaq closed slightly lower for the week, while the Dow edged higher.

Bill Stone, chief investment strategist with PNC Wealth Management, said he expects stocks to hold up despite this week’s volatility.

“You’re going to get bumps and bruises along the way, but we do believe things are actually getting better, so I think there’s underlying demand” for stocks, Stone said.

Spooked investors sent stocks plunging Wednesday after minutes from the Federal Reserve’s latest policy meeting revealed disagreement over how long to keep buying bonds in an effort to boost the economy. The slide continued Thursday. The Dow lost 155 points over those two days.

Many analysts say the Fed’s bond-buying and resulting low interest rates have driven this year’s stock rally, which lifted indexes to their highest levels since before the 2008 financial crisis. The Dow is now just 164 points below its record close of 14,164 reached in October 2007.

U.S. stocks followed European stocks higher after a survey of German business optimism rose sharply, adding to evidence that the country will avoid a recession. Germany’s economic vitality is crucial for the beleaguered region, offsetting economic contraction in surrounding countries.

“Germany is really the bedrock,” Stone said. “If it gives way, then you have real problems.”

Regional stocks

Capitol Federal Financial rose 7 cents, or 0.59%, to close at $11.87.

Cerner Corp. rose $1.40, or 1.62%, to close at $87.56.

Commerce Bancshares Inc. rose 46 cents, or 1.20%, to close at $38.76.

Compass Minerals rose 5 cents, or 0.07%, to close at $74.80.

DST Systems Inc. rose 41 cents, or 0.61%, to close at $67.59.

Ferrellgas Partners L.P. fell 3 cents, or 0.15%, to close at $20.03.

Garmin Ltd. fell 2 cents, or 0.06%, to close at $35.00.

Great Plains Energy rose 13 cents, or 0.59%, to close at $22.14.

H&R Block Inc. rose 12 cents, or 0.49%, to close at $24.66.

Inergy L.P. fell 7 cents, or 0.36%, to close at $19.62.

Kansas City Life Insurance Co. rose 56 cents, or 1.51%, to close at $37.87.

Kansas City Southern rose $1.01, or 1.03%, to close at $98.78.

Layne Christensen Co. fell 12 cents, or 0.52%, to close at $23.01.

O’Reilly Automotive Inc. rose $1.48, or 1.47%, to close at $102.25.

Sprint Nextel Corp. rose 3 cents, or 0.52%, to close at $5.82.

UMB Financial Corp. rose 45 cents, or 0.98%, to close at $46.32.

Waddell & Reed Financial Corp. rose 92 cents, or 2.21%, to close at $42.57.

YRC Worldwide Inc. rose 18 cents, or 2.91%, to close at $6.36.

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