The Markets Now: Stocks Mixed After Tech Company Earnings Reports

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The Dow (INDEXDJX:.DJI) lagged behind the other indices today, decreasing 0.30% to 14372.58. The S&P 500 (INDEXSP:.INX) climbed 0.56% to 1,550.22, and the Nasdaq (INDEXNASDAQ:.IXIC) rose 1.07% to 3,200.12, helped by earnings reports from Google ( GOOG ) and Microsoft ( MSFT ).

No major economic reports were released today.

Google rose 2.75% to $787. Yesterday the Internet company reported a first-quarter profit of $3.35 billion, or $9.94 per share, versus $2.89 billion, or $8.75 per share, in the prior-year quarter. Adjusted profit was $11.58 per share, beating analysts' projections of $10.68 according to Bloomberg. Adjusted revenue was $11.01 billion compared to $8.14 billion in the prior year quarter.

Microsoft increased 3.09% to $29.68. The software and technology company reported that its third-quarter net income increased 19% year-over-year to $6.06 billion, or $0.72 per share, beating the average analyst estimate of $0.68, according to Bloomberg. Revenue increased 18% year-over-year to $20.5 billion.

Dell ( DELL ) fell 3.73% to $13.43. Blackstone ( BX ) has pulled out of bidding for Dell. CEO Michael Dell and Silver Lake Partners remain the two active bidders.

IBM ( IBM ) plunged 7.65% to $191.30. The technology company reported a first-quarter net income of $3 billion, or $2.70 per share, versus $3.8 billion, or $2.61 per share. Analysts expected net income of $3.05, according to Bloomberg. Revenue declined 5% to $23.4 billion.

The company also announced today that it may cut up to 1,400 jobs in France over the next two years.

Gilead Sciences (GILD) spiked 5.79% to $53.81. Gilead has hit a new 52-week high. The biopharmaceutical company reached its previous 52-week high of $52.01 on April 16.

Twitter: @ChrisWitrak



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



This article appears in: Investing , Stocks

Referenced Stocks: BX , DELL , GOOG , IBM , MSFT

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