SOURCE: Five Star Equities

Five Star Equities

August 09, 2012 08:20 ET

S&P 500 Index Reaches Four Month High -- Fossil Soars on Strong Earnings

Five Star Equities Provides Stock Research on Fossil and Mattel

NEW YORK, NY--(Marketwire - Aug 9, 2012) - A string of better-than-estimated earnings and increased speculation that will take stimulus measures if needed to boost economies have sent the S&P 500 Index to a high not seen since April. The S&P 500 Index reached 1407.14 on Tuesday, and has rallied approximately 11 percent for the year. Five Star Equities examines the outlook for companies in the S&P 500 Index and provides equity research on Fossil, Inc. (NASDAQ: FOSL) and Mattel, Inc. (NASDAQ: MAT).

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Data collected from Bloomberg have shown that of the S&P 500 companies who have reported second-quarter earnings 72 percent of them have topped estimates. Comments made last week from European Central Bank President Mario Draghi helped eased concerns regarding the regions debt crisis. Draghi commented that the central bank could start buying government bonds of indebted countries if need be.

"The fear of things collapsing is going away," said Tom Wirth, senior investment officer for Chemung Canal Trust Co. "The recession, which everyone was concerned about a month ago, is not going to happen. There's a perception that the ECB is willing to buy bonds if needed."

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Fossil is a global design, marketing and distribution company that specializes in consumer fashion accessories. Shares of the company soared over 30 percent after the company reported second quarter results that topped analysts' expectations. For the second quarter of 2012 Fossil reported net sales were $636.1 million, a 14.3 percent increase over second quarter 2011.

Mattel is the worldwide leader in the design, manufacture and marketing of toys and family products. For the second quarter of 2012 the company reported net income of $96.2 million, or $0.28 per share, compared to 2011 second quarter net income of $80.5 million, or $0.23 per share. Shares of Mattel are up over 25 percent for the year.

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