Corporate Earnings Give Stocks a Slight Bump (T, AAPL)
Other than the Nasdaq, major indices were all slightly up today, carried mostly by the momentum of positive corporate earnings. This in spite of new Case-Shiller data showing that US home prices hit new lows in February. AT&T (T) announced that its iPhone activations were down by 3.3 million year over year. Apple (AAPL) saw an 88 percent increase in year over year iPhone sales overall, however. The technology company's net income almost doubled from Q1 2011.
Word on the Street
- Most major indices were up today on several strong corporate earnings announcements.
- AT&T (T) saw a decline in its iPhone sales year over year.
- Apple (AAPL) sold 35 million iPhones in Q2.
- Barnes and Noble (BKS) has shipped a new model of its Nook ereader device.
- Netflix (NFLX) is down on skepticism about its subscriber target.
- IBM (IBM) increased its stock buyback plan to $12.7 billion.
- Case-Shiller shows home prices were down in February.
Published on Apr 24, 2012By InvestorGuide Staff