Stocks End The Week With Mixed Results As Earnings Reports Flood In

Michael Teague  |

With a dearth of economic data points, stocks ended Friday on mixed results after a week that saw the Standard & Poor’s 500 and the Dow Jones Industrial Average make consistent and significant gains.

The S&P 500 ended the day on a slight gain of 0.16 percent to close out the week at yet another all-time high finish of 1,692.09, while the Dow nudged down 0.03 percent to end the day at 15,543.74, and the NASDAQ dropped 0.66 percent to 3,587.61.

A flood of earnings reports took precedence over economic news, as tech stocks put tremendous downward pressure on the S&P. Microsoft (MSFT) tumbled over 11 percent to $31.47 after reporting earnings that came in shy of already weak estimates, sending shares for Hewlett-Packard (HPQ) down over 4 percent, while IBM (IBM) and Advanced Micro Devices (AMD) also took on heavy losses.

The benchmark index managed to stay in positive territory, however, on the strength of impressive earnings report releases from General Electric (GE) , Chipotle Mexican Grill (CMG) , Whirlpool Corp (WHR) , and oilfield services company Schlumberger Ltd. (SLB) .

Tech was also a huge drag on the Dow, with Intel (INTC) and Cisco Systems (CSCO) joining the list of the day’s loser. Healthcare stocks picked up some of the slack, with Johnson & Johnson (JNJ) , Pfizer (PFE) , and Unitedhealth Group (UNH) all posting gains.

Heading into next Monday investors will be looking forward to earnings releases from Texas Instruments (TXN) , Halliburton (HAL) , and McDonald’s (MCD)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
CMG Chipotle Mexican Grill Inc. 493.32 8.66 1.79 876,693 Trade
UNH UnitedHealth Group Incorporated (DE) 263.48 2.57 0.99 1,941,909 Trade
GE General Electric Company 12.35 -0.10 -0.80 49,601,633 Trade
JNJ Johnson & Johnson 129.50 -0.72 -0.55 4,543,002 Trade
INTC Intel Corporation 48.12 -0.33 -0.68 23,061,591 Trade
IBM International Business Machines Corporation 143.36 0.65 0.46 2,860,041 Trade
TXN Texas Instruments Incorporated 110.34 0.40 0.36 3,109,606 Trade
AMD Liberty Media Corp (DE) 20.02 0.29 1.47 89,195,509 Trade
CSCO Cisco Systems Inc. 44.00 0.25 0.57 15,981,257 Trade
WHR Whirlpool Corporation 124.35 -0.24 -0.19 647,937 Trade
MCD McDonald's Corporation 160.60 2.46 1.56 3,111,910 Trade
PFE Pfizer Inc. 40.71 -0.10 -0.25 16,448,577 Trade
HPQ HP Inc. 24.15 0.35 1.47 5,071,423 Trade
HAL Halliburton Company 40.67 -0.18 -0.44 5,138,924 Trade
SLB Schlumberger N.V. 64.80 -0.17 -0.26 4,851,034 Trade
MSFT Microsoft Corporation 109.56 1.35 1.25 16,788,314 Trade
JPYGZ JPMorgan Chase Bank NA New York Low Exercise Price Wt 05/15/2017 n/a n/a n/a 0

Comments

Emerging Growth

MGX Minerals Inc.

MGX Minerals is a diversified Canadian mining company listed on the Canadian Securities Exchange. MGX is engaged in the acquisition and development of industrial mineral deposits in western Canada that…