Mid-Day Market Update: Microsoft Jumps On Upbeat Results; Synaptics Shares Decline

By Jake L'Ecuyer,

Shutterstock photo

Midway through trading Friday, the Dow traded up 0.13 percent to 15,528.89 while the NASDAQ surged 0.06 percent to 3,931.43. The S&P also rose, gaining 0.09 percent to 1,753.61.

Top Headline Procter & Gamble Co (NYSE: PG ) reported a 7.6 percent rise in its fiscal first-quarter earnings. P&G's quarterly profit surged to $3.03 billion, or $1.04 per share, from $2.81 billion, or $0.96 per share, in the year-ago period. Excluding special items, its core earnings declined to $1.05 per share from $1.06 per share. Its sales rose 2.2 percent to $21.21 billion. However, analysts were expecting earnings of $1.05 per share on sales of $21.04 billion.

Equities Trading UP Zynga (NASDAQ: ZNGA ) shot up 10.33 percent to $3.90 after the company posted a narrower-than-expected third-quarter loss.

Shares of Microsoft (NASDAQ: MSFT ) got a boost, shooting up 5.50 percent to $35.58 on better-than-expected fiscal first-quarter results.

Callaway Golf Co (NYSE: ELY ) was also up, gaining 17.62 percent to $8.54 after the company reported a narrower third-quarter loss and lifted its 2013 forecast. DA Davidson upgraded the stock from Neutral to Buy and lifted the price target from $7.50 to $11.00.

Equities Trading DOWN Shares of Qlik Technologies (NASDAQ: QLIK ) were down 18.43 percent to $27.31 after the company reported downbeat Q3 revenue and lowered its full-year view.

ResMed (NYSE: RMD ) shares tumbled 12.45 percent to $49.30 after the company reported weaker-than-expected Q1 results. Synaptics (NASDAQ: SYNA ) was down, falling 13.71 percent to $45.77 after the company issued a downbeat Q2 revenue outlook.

Commodities In commodity news, oil traded up 0.62 percent to $97.71, while gold traded down 0.27 percent to $1,346.70. Silver traded down 1.32 percent Friday to $22.52, while copper rose 0.06 percent to $3.27.

Euro zone European shares were mostly lower today. The Spanish Ibex Index fell 1.01 percent, while Italy's FTSE MIB Index tumbled 1.45 percent. Meanwhile, the German DAX climbed 0.06 percent and the French CAC 40 fell 0.08 percent while U.K. shares gained 0.12 percent.

Economics US durable-goods orders rose 3.7 percent in September, versus economists' expectations for a 2.3 percent gain. However, core durable-goods orders fell 0.1 percent in the month.

The final reading of the Reuter's/University of Michigan's consumer sentiment index declined to 73.2 in October, versus a final reading of 77.5 in September. However, economists were projecting a final reading of 75.0. US wholesale inventories rose 0.50 percent in August, versus economists' expectations for a 0.30 percent gain.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Free Trading Education - Check out the free events taking place on Marketfy this week. Spaces are limited. Sign up today.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Commodities , Economy
Referenced Stocks: ELY , MSFT , PG , RMD , SYNA

More from Benzinga




Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com