Good earnings from several blue-chip companies elevated the Dow above the day's mixed results. Before we take a closer look at a few stocks making news, including Apple
Index |
Gain / Loss |
Gain / Loss % |
Ending Value |
---|---|---|---|
Dow Jones Industrial Average |
74.39 | 0.58% | 13,001.56 |
Nasdaq | (8.85) | (0.30%) | 2,961.60 |
S&P 500 | 5.03 | 0.37% | 1,371.97 |
Source: Yahoo! Finance.
The Dow held on above 13,000 by its fingertips, as strong earnings from three components boosted it past the other two major indexes. One of those components was United Technologies
However, concerns over Apple's after-hours quarterly results were largely responsible for the Nasdaq's underperformance, as the world's largest publicly traded company declined by 2%.
Those fears were largely stoked by AT&T
But Apple did it again. The company crushed analysts' estimates, ringing up a 5% increase in revenue and 92% in earnings, thanks to selling more than 35 million iPhones, itself an 88% increase and 5 million more units than estimated, as Apple reminded us that global markets are becoming increasingly important. Guidance for the current quarter is a little light, but it's likely a combination of this past quarter's success and some healthy sandbagging that has made a habit out of topping expectations.
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