Solid Earnings Push Markets Even Higher on Wednesday (NWS, GRPN)
The US markets continued their climb on Wednesday with both the Dow and S&P hitting consecutive record closes. Strong data was released regarding Chinese trading and Germany announced an unexpected jump in industrial output, bumping up global stocks. A group of after-hours earnings results were released today, including News Corp (NWS), Groupon (GRPN) and Activision (ATVI) who all beat estimates for the quarter.Also on Wednesday Microsoft (MSFT) announced their new chief financial officer Amy Hood and saw shares rise afterward. The dollar fell against other currencies including the euro, while gold prices continued to gain and ended at over a three-week high.
Word on the Street
- Strong Chinese trade data and German optimism push global stocks higher.
- Groupon (GRPN,) sees sales rise 7.5% despite a Q1 loss of $4 million.
- Enron's former chief Skilling gets approval for a shorter prison sentence.
- Oil futures reach a five-week high and close above $96 a barrel.
- Whole Foods (WFM) Stock Surges After Earnings.
Published on May 8, 2013By InvestorGuide Staff