Stocks rise on upbeat quarterly earnings : AONE, NOK, OSG, CLWR, PFE

Investors are happy with a reasonably good start to the earnings season, despite the dire predictions ahead of the results.

On Tuesday, the stock markets shot up registering their biggest monthly gain as results from Mattel, Goldman Sachs and Johnson & Johnson all exceeded expectations.

The Dow Jones Industrial Average (INDEXDJX:.DJI) jumped 127.55 points, or 0.95 percent, to close at 13,551.78. The S&P 500(INDEXSP:.INX) advanced 14.79 points, or 1.03 percent, to finish at 1,454.92. The NASDAQ Composite (INDEXNASDAQ:.IXIC) rose 36.99 points, or 1.21 percent, to end at 3,101.17.

The S&P 500 has gained 1.8 percent in the last two days, rebounding from last week's slide of 2.2 percent. That was the benchmark index's worst week in four months.

The strong start to earnings of many bellwether companies, including large banks, has given hope to investors that the rest of the earnings may not be as bad as has been forecast.

Overall S&P 500 companies' quarterly earnings still are expected to decline 2.3 percent from a year ago, but the forecast does mark a slight improvement from estimates last week.

Shares of Intel Corp fell after the bell. Intel slipped 1.5 percent to $22.02 after the world's largest chipmaker forecast gross margins for the current quarter below expectations.

Coca-Cola Co shares slipped 0.6 percent in normal trading to $37.90 after it reported a rise in earnings.

The world's biggest soft drinks maker's quarterly earnings came in below analyst forecast hurt by declines in Europe and Asia.

U.S. insurer UnitedHealth reported a higher-than-expected quarterly profit, but it gave a cautious outlook. Its shares fell 1.1 percent to $56.88.

Economic data showed the overall U.S. Consumer Price Index rose 0.6 percent in September, but core inflation at 0.1 percent was lower than expected.

A123 Systems, Inc.(NASDAQ:AONE) was the biggest loser and slumped 13% to $0.0700 it after said on Tuesday that it is likely to default on its debt obligations and it would soon seek bankruptcy protection. The company revealed this is a regulatory filing with the Securities and Exchange Commission.

Nokia Corporation (ADR)(NYSE:NOK) continued to move higher and rose another 5.22% after surging 4% in Tuesday’s session ahead of the company critical quarterly earnings on Thursday. Investors would like to see the company’s cash position as analysts are expecting the company’s available cash to play an important role going forward. In terms of earnings revenue, analysts continued to believe that the company will report loss and lower revenue due heavy competition from Apple and Google’s android. So, keep your eyes on NOK this week.

Overseas Shipholding Group Inc.(NYSE:OSG) was down 27% after it took a big hit amid investor concern that it has maxed out it lending facilities and could soon face a liquidity squeeze. Shares have been on the decline pretty much since 2008 amid a rough shipping market. Debtwire, citing two hedge fund analysts, said late last week that Goldman Sachs and UBS are shopping around about $100 million in the tanker's revolver, looking to create a market for the debt before OSG needs to refinance early next year.

Clearwire Corporation(NASDAQ:CLWR) fell 17% on speculation that Sprint Nextel Corporation(NYSE:S) would not be bidding to raise its stake in the company any time soon. Before today, shares of CLWR had gained 100% in the past one week.

On Monday, Japan's No. 3 network carrier made a deal with Sprint to buy a 70 percent controlling stake in the U.S. carrier for $20.1 billion.

Pfizer Inc.(NYSE:PFE) made a new 52-week high of $25.92 and closed higher by about 1%.