Stocks Mixed; Microsoft Drags Down Techs, American Express Lifts Financials
Stocks closed mixed on Friday, with disappointing earnings from Microsoft hurting the tech sector, offset by forecast beating numbers from American Express.
The Dow gained +42.91, the Nasdaq Composite fell -5.99 , and the S&P 500 rose +9.02.
American Express
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PowerRating) reported earnings that beat expectations by $0.03 and reaffirmed guidance. Shares of AXP rose nearly 6%.
Microsoft
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PowerRating) beat estimates by $0.03 and issued guidance above consensus. However, the numbers were still perceived as a disappointment and MSFT fell more than 6%.
Shares of Baidu.com
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PowerRating) jumped more than 6% after the company reported earnings that were in-line with estimates.
Goodyear Tire
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PowerRating) also rose more than 6% after beating the consensus forecast by $0.13.
LM Ericsson
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PowerRating) surged 13.5% after reporting first quarter revenues rose, and income fell less-than-expected.
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