Despite recession fears do strong results from MasterCard, Corning, and CBS suggest that consumers are still happily forking over cash?
On Tuesday MasterCard said first-quarter earnings more than doubled, beating expectations, helped by the weak dollar and increased spending on its cards.
Meanwhile, Corning reported consumer demand for flat-panel televisions grew in the first quarter, defying the weak U.S. economy, and tripling the specialty glass maker's profit while CBS Corp. came in much better than expected and reported a 14 percent increase in first-quarter earnings on higher syndication sales from its popular franchise "CSI."
How do you trade it?
Good companies are not whining about the economy, says Jeff Macke. I like GLW as well as Wal-Mart .
Corning had a great quarter, but I think you should take profit, counters Guy Adami.