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 (AXP | Quote | Chart | News | PowerRating) reported earnings that beat expectations by $0.03 and reaffirmed guidance. Shares of AXP rose nearly 6%.
Microsoft (MSFT | Quote | Chart | News | 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 (BIDU | Quote | Chart | News | PowerRating) jumped more than 6% after the company reported earnings that were in-line with estimates.
Goodyear Tire (GT | Quote | Chart | News | PowerRating) also rose more than 6% after beating the consensus forecast by $0.13.
LM Ericsson (ERIC | Quote | Chart | News | PowerRating) surged 13.5% after reporting first quarter revenues rose, and income fell less-than-expected.
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Michigan Sentiment (Apr): Actual 62.6, Consensus 63.2 |
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