Shopping Interest Australia

Business Insider

Stocks open in the red after mixed earnings

Posted: 2016-10-21 13:34:00

Original link: http://feeds.businessinsider.com.au/~/214479158/0/businessinsideraustralia~Stocks-open-in-the-red-after-mixed-earnings

US stocks are a leg lower on Friday after some mixed earnings results from Wall Street.

At 9:33 a.m. ET, the Dow is down 104 points (-0.58%), the S&P 500 is down 10 points (-0.5%) and the Nasdaq is down 10 points (-0.2%).

The two big earnings reports came from McDonaldâ€™s and General Electric. McDonaldâ€™s reported stronger-than-expected sales growth after it revamped its all-day breakfast menu and kept customers interested in the offering. However, General Electric cut its revenue forecast, citing slow growth in the oil and gas business.

McDonaldâ€™s shares gained 4%, while General Electric fell 2%.

Other major movers included Twilio, shares of which fell 7% after the company priced its follow-on offering below Thursdayâ€™s closing price. Advanced Micro Devices fell 4% after the semiconductor company forecast a sales decline for the fourth quarter.

The economic-data calendar is light, with Markitâ€™s preliminary US manufacturing report for October due at 9:45 a.m. ET. Itâ€™s expiry Friday for some stock-options traders.

Follow Business Insider Australia on Facebook, Twitter, and LinkedIn

0 Comment(s)
Favorite Unfavorite

Read On:

'I can't see how we can survive': Sydney builders locked out of the worksite predict dire consequences if construction doesn't resume on July 31 - 2021-07-22 06:20:32

Sydney's lockdown could become 'permanent' until widespread vaccination, economists warn, as fears of a recession emerge - 2021-07-22 04:45:53

Zip says its future lies overseas, as local growth slows down and bad debts loom on the horizon - 2021-07-22 02:33:11

10 things you need to know this morning in Australia - 2021-07-21 23:38:56

Brisbane has been chosen to host the 2032 Olympic and Paralympic Games, bringing the five rings to Queensland for the cost of $5 billion - 2021-07-21 23:25:05

Millennials told JPMorgan they want to retire by 60, but they're in for a rude awakening - 2016-10-21 13:33:27

You can put your hand in this vortex fountain which sits in your backyard - 2016-10-21 13:15:11

Here's a super-quick guide to what traders are talking about right now - 2016-10-21 13:03:39

There's a major problem with the internet that's preventing websites from loading - 2016-10-21 13:03:16

The Canadian dollar is getting whacked after disappointing data - 2016-10-21 12:41:00

Report this news