US: Corporate earnings drive shares in opposite directions

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

[NEW YORK] A bruising earnings report from industrial giant 3M dragged the Dow lower on Thursday but strong results from Microsoft and Facebook boosted the Nasdaq. Read more at The Business Times.

But Facebook surged 5.8 per cent following its report, while Microsoft jumped 3.3 per cent, lifting its market capitalization above US$1 trillion.

"It's 100 per cent about earnings," analyst Adam Sarhan of 50 Park Investment told AFP."Investors digest a lot of data and we are getting mixed signals with respect to earnings but mostly positive."Among others reporting results, Tesla Motors fell 4.3 per cent and UPS slumped 8.1 per cent. After markets closed, Amazon reported earnings had more than doubled in the first quarter to US$3.6 billion, and its share price rose in after-hours trading.

Analysts also were encouraged by US data showing an unexpected jump in durable goods in March, rising on strong demand for aircraft and communications equipment along with record auto sales.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines