NEW YORK (CNN/Money) -
Investors will try to digest another batch of earnings Wednesday after a mixed session on Wall Street Tuesday as fears of a possible interest rate hike and higher gasoline prices outweighed positive corporate results.
After the closing bell Tuesday, shares of McDonald's Corp. (MCD: Research, Estimates) rose after the company reported sharply higher quarterly earnings, helped by strong U.S. sales amid a turnaround marked by better service, global advertising and a more diverse menu.
Shares of McDonald's, whose chairman and chief executive died unexpectedly last week, rose to $28.03 on the INET electronic brokerage system, up from their close of $27.20.
In its earnings statement, McDonald's new CEO Charlie Bell said that Europe's sales trends in April have improved "significantly" due to the success of a new salads menu. U.S. sales are also strong, Bell said.
Network Associates (NET: Research, Estimates) stock, however, fell even though the security software maker posted a higher profit in the latest quarter versus a year-ago.
Shares of Network Associates, which makes McAfee anti-virus technology, fell 5 percent to $17.17 on the INET electronic brokerage, down from a close of $18.10 in the regular session.
After the close, Network Associates reported first-quarter earnings of $56 million, or 32 cents a share, compared with a year-ago restated profit of $12 million, or 8 cents a share. Revenue for the quarter fell to $217 million from a restated $219 million last year.
Sina.com (SINA: Research, Estimates) stock rose after the Chinese online media company posted sharply higher first-quarter earnings, driven by strong revenue in its mobile services business.
Shares of Shanghai-based Sina.com, the largest by revenue of the three Nasdaq-listed Chinese Internet portals, rose 3.8 percent to $37.79 on the INET electronic brokerage from their close of $36.40 on the Nasdaq.
Chip maker Maxim Integrated Products (MXIM: Research, Estimates) said after the close that it forecast current-quarter revenue of $420 million and earnings of 36 cents a share, topping analysts' average estimates.
Jack Gifford, chairman and chief executive of the Sunnyvale, Calif.-based company, said the results in its fiscal fourth quarter would include a one-time charge for employee bonuses.
Separately, PG&E Corp. (PCG: Research, Estimates) reaffirmed its earnings forecast for the year and said non-cash gains would boost first-quarter results.
The parent of California's largest utility said its first-quarter results would reflect one-time, non-cash gains from adding two regulatory assets to its balance sheet, boosting reported income by about $3 billion.
No major economic data are due Wednesday, but it will be a session packed with earnings news. Major corporations scheduled to report earnings before the opening bell include Boeing (BA: Research, Estimates), Bristol-Myers (BMY: Research, Estimates), CSX Corp. (CSX: Research, Estimates) and Halliburton (HAL: Research, Estimates).
-- from staff and wire reports
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