Asian stocks turned mixed on Wednesday following gains in the morning session as investors booked profits on the previous day's rally.» Read More
Sure Google's sales and earnings grew -- are growing -- much faster than IBM's. But aside from the two tech bellwethers having comparable market caps of about $170 billion, that's about where the comparisons end.
Stocks turned mixed Friday as banks rebounded and Google and Microsoft slammed techs.
Stocks turned lower Friday as an early bank rally fizzled and Google and Microsoft slammed techs.
Is there any doubt that big-cap financials are the key to this market? What's worked for two months? Sell the rally in financials. This is crunch time for the two-day rally...and not surprisingly, they are pushing the old trade hard today.
Citigroup, the largest U.S. bank, posted a smaller-than-expected quarterly loss Friday despite $11.7 billion of write-downs and credit losses tied to deteriorating capital markets and the slumping economy.
Earnings reports from Google and Microsoft are casting doubts on the assumption that these tech giants are immune to the recent economic downturn.
This is crunch time for this little mini-rally--since the earnings news is mixed, it will be critical for the market to move sideways or up today, and avoid retracing any of the last two days gains. Options expiration today.
Asian markets fell Friday, hurt by resource-related shares stung by oil's 10% decline this week and by weaker-than-expected results from Merrill Lynch, which deflated hopes for a recovery in the financial sector.
European shares are expected to be mixed at the start of trade on Friday as investors weigh up gains on Wall Street, helped by lower oil prices, against disappointing after-the-bell results from Merrill Lynch , Google and Microsoft.
Citigroup's better-than-expected earnings report turned the tide ahead of the open.
The Dow and broader stock market jumped on Thursday as oil prices dropped sharply for a third day. What's the "Word on the Street?"
Just when it looked safe to get back into the water, sharks were sighted. Merrill Lynch showed a bigger loss than expected (a much bigger loss), Microsoft was indeed soft and Google could have done better. On the other hand, JP Morgan surprised us as did United Technologies and IBM. So maybe you pay your money and you take your chances.
As for techs, traders note that there has been less focus on that sector, because everyone is still in the process of unwinding the Long Energy/Short Financials trade. These numbers will reinforce the bear position that we are in a poor market for tech.
Minutes after reporting this news, the company offered up a revision to its full year earnings per share and the bump up is significant. Remember, IBM did this at the conclusion of its first quarter, taking EPS estimates up from $8.25 to $8.50.
Looking a little deeper, the company's web site gross revenue failed to meet expectations: $3.53 billion versus the range of $3.54 billion to $3.57 billion. Networks site revenue was in line at $1.66 billion.
Google's quarterly net income fell short of Wall Street expectations Thursday, suggesting it may be suffering from a weakening U.S. economy like its rivals, and its shares fell about 10 percent.
Google shares might not reflect the level of optimism swirling around this company right now, but this could be a break-out earnings report from Google after the bell later today.
Over 1.4 billion shares and $16.5 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. Check out the bets being made today...
Earnings from J.P. Morgan and some other big companies could sway the market's early direction, but traders are closely watching oil to see if it will make or break the upswing in stocks.
What's the trade ahead of Google's earnings report after the bell tomorrow?