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Analog Devices Profit Meets Estimate; Outlook Weak

Analog Devices, Inc. said that its second quarter profit rose slightly from last year, helped mainly by lower income tax expenses even as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations. However, the company forecast third quarter revenue and earnings below analysts' current consensus estimates.

Stocks Close Modestly Higher Ahead Of Bernanke Testimony - U.S. Commentary

While buying interest was relatively subdued, stocks moved modestly higher over the course of the trading day on Tuesday. The strength on the day offset the weakness seen in the previous session, with the Dow and the S&P 500 reaching new record closing highs. The major averages gave back some ground in late-day trading but remained in positive territory.

Obama's Approval Rating Holding Steady Despite Scandals

While a recent series of scandals have caused headaches for the White House, the results of a Washington Post-ABC News poll released Tuesday suggest that the news has not had an impact on President Barack Obama's approval rating. The poll showed that 51 percent of Americans approve of the way Obama is handling his job as president compared to 44 percent that disapprove.