Tech Buoys NASDAQ Up 20 Despite Falling Markets
PUBLISHED ON: Apr 21, 2015
Allegheny Technologies Up 14% On Mixed Q1 Earnings. Steel refiner Allegheny Technologies (ATI) issued a complicated earnings report today, although the fact that profits were up was enough to make investors happy.
Teva Pharmaceuticals Makes An Offer For Mylan. The world of pharmaceuticals is where a lot of stock market drama is currently unfolding, and this latest deal only adds to it. Rumors were started of a potential Teva (TEVA) offer for Mylan (MYL) last week, and they clouded the deal that Mylan was trying to seal at the time with fellow pharma company Perrigo (PRGO). When it comes to the pharmaceuticals segment of the health services sector, if you aren't at least a little bit confused then you aren't paying close enough attention.
In trading today, Teva (TEVA) gained 0.87 points to close at $64.16. Mylan (MYL) was up almost 9%, rising 6.06 points to close at $74.11. Perrigo Pharmaceuticals (PRGO) -- which sources say is no longer involved in the deal -- fell -5.26 points to close at $192.82 per share.
Harley Davidson, Under Armour, And FMC Technologies Down On Earnings Miss. Every quarter can be brutal when companies miss their earnings forecasts, and today it was Harley Davidson (HOG) Under Armour clothing (UA), and oilfield equipment manufacturer FMC Technologies (FTI) which took a beating. All three companies missed their profits forecasts, and all three paid for it with falling share prices.
American icon Harley Davidson (HOG) was down 10% in trading today, falling -6.05 points to close at $55.72 per share. Under Armour (UA), despite its increasingly popular brand, missed on earnings and fell -4.24 points to $83.52 per share. FMC Technologies (FTI), which is caught up in falling oil prices and reduced demand for drilling equipment, continued a year-long plunge by falling another 4.48% to $37.73.
Kimberly-Clark Corp Makes The Most Of Emerging Markets In New Report. Reports today indicate that Kimberly-Clark (KMB), a big player in the consumer non-durables sector and personal care segment, is making more money than expected overseas. It was an over-performance in emerging markets that allowed the company to beat Q1 earnings forecasts and put a smile on shareholder's faces. Kimberly-Clark stock rose 5.79 points in trading today, and closed at $113.15 per share.