Sluggish Tech Earnings Leave NASDAQ Down as Dow Soars

Markets ended the day mixed, with the Dow and S&P 500 up while the NASDAQ dipped due to lower than expected Q1 tech earnings. The Dow gained 72.17 points in trading today, and closed at 18,110.14. The S&P 500 was up 5.84 points to close at 2,114.76. The NASDAQ fell slightly, losing -4.83 points to close out the trading day at 5,055.42. In overseas trading, Europe continued to struggle while Asia rallied. Japan's Nikkei added 75.92 points, while Germany's DAX fell -223.20.

Microsoft Up Big On Q1 Tech Earnings.  Computing giant Microsoft (MSFT) released their Q1 earnings today, and all the signs point to a diverse, healthy, and growing company.
Shares of Microsoft were up 2.34% on the news, which was driven primarily by higher than expected device adoption rates. The stock gained 1.13 points to close at $49.16.

Apple's Lackluster Day.  Device-maker Apple (AAPL) released a lackluster Q1 tech earnings report, especially after last quarter's record progress. The stock fell -2.09 by the end of the day, despite an earlier surge in the share price,  to close at $130.56. All of this happened despite analysts making big buys yesterday in anticipation of share prices shooting up.

Whirlpool Falls 7% On Missed Earnings, Lowered Expectations.  Consumer durables manufacturer Whirlpool (WHR) took a big whiff on their earnings report this quarter. Missed revenues, coupled with a strong dollar slowing their exports, drove stock prices down by -14.13 points. Whirlpool closed the day's trading at $183.70 per share.

Freeport-McMoRan Continues To Make The Most Of Surge In Precious Metals.  For the third day in a row, struggling refiner and precious metals miner Freeport-McMoRan (FCX) posted a profit. The price of platinum and other precious metals has been rising lately, although gold is still lagging under a $1,200 floor that's beginning to look like a ceiling. Freeport-McMoRan gained another 4% today, and is up over 12% across a 5-day stretch. The company is currently trading at $22.68 per share.

Health Services Sector Growth Beginning To Slow.  For the past year, the health services sector has  lead the American economy in growth. Those days could be coming to an end as this latest round of earnings seems to be the first indicator of a contraction. The bottom fell out of biotech a few weeks ago in trading, but it was made official this week as the Q1 earnings have started to be made public.

Merck Beats Earnings, Shares Up 5%.  Pharmaceuticals giant Merck (MRK) beat expectations that it had set for itself and posted better than expected Q1 earnings. The company gained 2.88 points in trading today, setting share prices at $59.98.
Published on Apr 28, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2020. Content published with author's permission.

Posted in ...