Markets are mixed this morning
as investors wade through several big name earnings announcements. All eyes were on Apple after the closing bell
yesterday as the tech giant reported its much anticipated Q1 earnings. Apple earnings dropped 18%, which was
slightly better than analysts’ estimates, however squeezed margins and
disappointing guidance for the June period sent the stock lower. Apple also announced a dividend hike of 15%
and said it would be adding $50 billion to its share buyback program. In the after-market, Apple shares initially
rose 5%, bumping up against the $430 level, then fell back to $400 where it’s
been battling at the open. Some other
big names announced earnings today including Ford and Eli Lilly which beat
estimates. Proctor & Gamble missed
and AT&T reported in line earnings but missed on revenues. In economic news, durable goods orders slipped
5.7% in March, the largest decline since last August. Stripping out the volatile airline and
transportation industry, durable goods orders only fell 1.4%. Internationally,
Asian markets finished up across the board with strong gains on Japanese and
Chinese indices. Europe is also higher
thus far. Commodities are higher with
gold continuing to crawl its way back, up 1.5% today to 1430/oz. Interest rates are flat and the US dollar is
mixed.
No comments:
Post a Comment