NEW YORK, July 25- U.S. stocks fell at the open on Friday following back-to-back record high closes on the S&P 500, weighed by declines in Amazon and Visa after the companies reported earnings.
CNBC's Jim Cramer explains why the Street is turning on Amazon.
Starbucks beat the Street on earnings but the stock is down. CNBC's Jim Cramer explains why the stock is getting killed and why the quarter was perfection.
CNBC's Jim Cramer digs into Amazon's much wider-than-expected Q2 loss as the company continues to spend on new services. Cramer says Amazon doesn't care what people think and Bezos wants world domination.
NEW YORK— Investors got some bad news about the American shopper on Friday, driving down stocks and sending the Dow Jones industrial average to a loss for the week. "Visa put a lot of caution into the market this morning," said Quincy Krosby, a market strategist at Prudential Financial.
The North Chicago, Illinois company said Friday that earnings increased to $1.1 billion, or 68 cents per share, from $1.07 billion, or 66 cents per share, in the same quarter last year.
Facebook's record close on Thursday, fueled by earnings, added $1.6 billion to CEO Mark Zuckerberg's bottom line. USA Today reports.
July 25- AbbVie Inc, which last week announced plans to buy Dublin- based drugmaker Shire Plc for $55 billion, reported stronger-than-expected quarterly results on surging sales of its Humira treatment for rheumatoid arthritis. Excluding special items, AbbVie earned 82 cents per share.
NORWALK, Conn.— Document management company Xerox Corp. on Friday reported profit that declined by 1.9 percent in its second quarter, and beat analysts' expectations. The Norwalk, Connecticut- based company said net income dropped to $266 million, or 22 cents per share, from $271 million, or 21 cents per share, in the same quarter a year earlier.
Moody's Corp. reported net income rose to $319.2 million, or $1.48 per share, from $225.5 million, or $1 per share, a year earlier. Revenue for the New York company climbed 16 percent to $873.5 million from $756 million. Revenue for Moody's Investors Service rose 16 percent to $621.7 million, while revenue for Moody's Analytics climbed 15 percent to $251.8 million.
*Second-qtr adjusted earnings $1.12/ shr vs est. July 25- Credit rating agency Moody's Corp reported a higher-than-expected quarterly profit as revenue rose from its bond ratings business, and the company raised its full-year revenue growth forecast.
Some of the names on the move ahead of the open.
DETROIT, July 25- Lear Corp, maker of auto seats and electrical power systems, on Friday beat Wall Street's earnings expectations for the second quarter and increased its full-year outlook. Net income rose to $148.5 million, or $1.81 per share, from $137.3 million, or $1.60 per share, a year earlier.
July 25- Xerox Corp reported a 2 percent fall in second-quarter revenue, hurt by lower demand in its printing business. Net income attributable to Xerox fell to $266 million, or 22 cents per share, for the quarter ended June 30, from $271 million, or 21 cents per share, a year earlier. Revenue fell to $5.29 billion from $5.39 billion a year earlier.
Net income attributable to Moody's rose to $319.2 million, or $1.48 per share, in the second quarter ended June 30 from $225.5 million, or $1 per share, a year earlier.
Ron Josey, JMP Securities, discusses Amazon's worst-than-expected second quarter results and weighs in on how the company's expansion plans are impacting profits.
MADRID, July 24- Cash-rich Spanish oil company Repsol beat quarterly profit forecasts as a jump in its refining margin helped cushion production declines and said it would return money to shareholders if it failed to find suitable acquisitions.
LONDON, July 25- Vodafone received no relief from tough market conditions in the first quarter, with a slowdown in Spain and South Africa resulting in another heavy drop in its key revenue measure. Chief Executive Vittorio Colao said the year had started in line with the company's expectations and its performance had improved in markets such as Germany.
LONDON, July 25- Vodafone received no relief from tough market conditions in the first quarter, with a slowdown in Spain and South Africa resulting in another heavy drop in its key revenue measure. That compared with a rate of 4.0 percent, including a full contribution from Italy, in the last quarter of its past financial year.
TOKYO, July 25- Japan's Nikkei share average rose 1.1 percent on Friday to close at its highest level in six months, buoyed by fresh record highs for the S&P and as index heavyweight Fanuc Corp jumped after reporting strong profits. The Nikkei ended up nearly 174 points at 15,457.87, its highest closing level since Jan. 23.