Market Recap: Oil SPIKES, Gold DIPS, Sirius EARNINGS Rock

Markets closed up on Wall Street today: Dow +0.39%, S&P +0.51%, Nasdaq +0.87%, Oil +1.31%, Gold -0.51%.

On the commodities front, Oil (NYSE:USO) rose to $93.44 a barrel. Precious metals were mixed, with Gold (NYSE:GLD) falling to $1614.00 an ounce while Silver (NYSE:SLV) increased 0.22% to settle at $28.08.

Here’s your Cheat Sheet to today’s top stock stories:

Sirius XM Radio Inc. (NASDAQ:SIRI) reported net income above Wall Street’s expectations for the second quarter. The stock rallied over 2 percent on the news. Net income rose to $3.13 billion (48 cents per share) vs. $173.3 million (3 cents per share) in the same quarter a year earlier. This marked a substantial increase from the year-earlier quarter. Revenue also increased 12.5 percent to $837.5 million from the previous year’s quarter.

Don’t Miss: Amazon Has BIG Hopes From This Facebook Foray.

Fossil Inc.’s (NASDAQ:FOSL) shares jumped 32 percent after the company reported a second-quarter earnings increase of 12 percent. It incurred broad-based sales growth in its wholesale segment while a stronger U.S. dollar slightly pared down global sales.

MGM Resorts’ (NYSE:MGM) shares increased 9 percent after the company noted in its second quarter earnings report on Tuesday that it will refinance some of its long-term debt at “progressively lower rates.” It did report a loss for the quarter but saw a jump in revenue to $2.3 billion from $1.8 billion.

On the down side, Leap Wireless International’s (NASDAQ:LEAP) shares fell 21 percent. The company’s second-quarter loss tightened thanks to bringing in additional revenue per user. Results did come in lower than Wall Street expectations; the quarter also saw customers exiting.

Heckmann Corp.’s (NYSE:HEK) shares also tanked 21 percent. On Monday after the bell, the company reported a higher second-quarter profit and revenue but saw a slowdown in the Haynesville Shale region for natural-gas drilling.

Don’t Miss: How Many New iPhones Can Apple Sell?