Despite falling markets today, the NASDAQ managed to make money. The exchange was up 20 points on the day, while the Dow and S&P 500 both fell as Q1 earnings reports continued to be released. The Dow dropped -85.34 and fell through the 18k ceiling again, ending the day at 17,949.59. The S&P 500 also fell slightly, dropping -3.11 points to close at 2,097.29. In overseas trading, markets were up across the board. In Asia, trading soared while Japan's Nikkei and Hong Kong's Hang Seng posted gains of 278.44 and 755.56 points respectively.
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. Despite rising profits, sales numbers have actually fallen, and total revenues missed their mark. In trading today, Allegheny Technologies posted a 14% gain of 4.35 points, and closed out the trading day at $34.65 per share.
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.