NASDAQ Up Big on Tech Earnings
Tech Earnings Blow Other Sectors Out Of The Water Today. Tech earnings were sky-high today, and the sector lead the market in gains.
Amazon Leads Tech Earnings With 14% Gains. Online retail giant Amazon (AMZN) posted the biggest gains in the sector today, on the back of their outstanding Q1 earnings. They ended the day with 14% growth in share price, gaining 55.11 points to close at $445.10. This latest earnings report came as a surprise only because of how far it exceeded expectations -- Amazon was expected to do well, but analysts were stunned by just how well they did last quarter.
Xerox Down Xerox Down Xerox Down Xerox Down. Commercial and home copying machine manufacturer Xerox (XRX) took a tumble today. After taking a dip in revenues and lowering earnings forecasts going forward, shareholders bailed on the company. Xerox lost 8.75% of their share value when the disappointing tech earnings were made public. The company dropped -1.15 points to close at $11.99 per share.
Microsoft Beats Q1 Expectations Thanks To XBox, Surface. Tech giant Microsoft (MSFT) showed the world how popular their line of Surface tablets has become when it posted its Q1 earnings today. The device division lead the company in growth and revenue, despite flagging XBox One sales. Only Amazon (AMZN) outstripped Microsoft's growth in the sector, as the Redmond, WA-based company posted 10.45% growth. In trading today, shares of Microsoft rose by 4.53 points to close at $47.87.
Shareholders Getting Out Of Hanes. National garment manufacturer Hanes (HBI) has been dropping all day, after posting lackluster earnings. Hanes dropped 6.82% in the wake of both a revenue and growth miss. In trading today, HanesBrands lost -2.36 points and closed the day's trading at $32.22 per share.
Published on Apr 24, 2015By Aaron Phillips