Stocks / Highlights
Dow 30 Earnings: Chevron Corp. First Quarter 2016
Jeremy J. Butler | 04/29/2016
Oil giant Chevron (CVX) has reported its second-consecutive bottom-line loss, with lower oil prices once again weighing on operating results. The company posted first-quarter sales of $23.6 billion, 32% lower than the year-earlier tally of $34.6 billion. The bottom-line deficit was $0.39 a share, compared with last year's profit of $1.37. The stock fell slightly, in response.
Stocks / HighlightsDow 30 Earnings: Exxon Mobil Corp. First Quarter 2016
Robert Mitkowski | 04/29/2016
Petroleum industry giant Exxon Mobil (XOM) has reported first-quarter 2016 earnings per share of $0.43, down sharply from the year-earlier tally of $1.17. The figure was less than our estimate of $0.60, but better than the revised Wall Street consensus. The shares rose moderately on the announcement.
Markets / CommentariesStock Market Today: April 29, 2016
William G. Ferguson, Adam Rosner, Robert Mitkowski | 04/29/2016
Stocks ended the week and the month of April on a down note, if well off of their session lows on Friday. At the close of trading, the Dow Jones Industrial Average was off 57 points; the NASDAQ was 30 points lower; and the S&P 500 shed 11 points. Market breadth on the New York Stock Exchange was moderately negative, and more so on the NASDAQ.
Markets / CommentariesThe Gross Domestic Product Barely Grows In The First Quarter of 2016
Harvey S. Katz | 04/28/2016
Expectations of gross domestic product growth for the recently concluded first quarter had been coming down for weeks, but the release of those figures earlier this morning showed that growth was below even some of the more downbeat forecasts. On point, the latest data showed that GDP rose by a scant 0.5% in the quarter, two-tenths of a percentage point below the latest estimates. Earlier expectations, issued at the outset of the recent period, had growth coming in above 2%.
Markets / CommentariesStock Market Today: April 28, 2016
Harvey S. Katz, Simon E. Shnayder, and Adam Rosner | 04/28/2016
The U.S. stock market got off to a mixed start this morning, but turned decidedly lower in the late afternoon. At the end of the session, the Dow Jones Industrial Average was off 211 points; the S&P 500 Index was down 19 points; and the NASDAQ was lower by 58 points. Market breadth was negative, as decliners outpaced advancers on the NYSE.
Markets / CommentariesThe Federal Reserve Leaves Interest Rates Unchanged
Harvey S. Katz | 04/27/2016
The Federal Reserve, to the surprise of almost no one, has decided to leave interest rates unchanged, voting, by a 9-to-1 count, to keep the federal funds rate target at 0.25 to 0.50 percent. Fed Governor Esther L. George was the lone dissenter. She voted to lift borrowing costs by 25 basis points at the meeting.
Stocks / HighlightsDow 30 Earnings: United Technologies First Quarter 2016
Erik M. Manning | 04/27/2016
Shares of United Technologies were little changed after the industrial conglomerate reported its first-quarter results.
Stocks / HighlightsDow 30 Earnings: Apple Inc. Second Quarter Fiscal 2016
Justin Hellman | 04/27/2016
Shares of Apple (AAPL) have again come under pressure, sinking back beneath the key $100 level, after the tech giant posted disappointing results for the second quarter of fiscal 2016 (year ends September 24th). In fact, the company missed Wall Street's expectations on both the top and bottom lines, with share net of $1.90 coming in $0.13 shy our estimate and a dime below the consensus view. The iPhone franchise, long a cash cow for Apple, was the main reason for the misses, as worldwide shipments slowed even more than had been feared. Moreover, the smartphone weakness led to the first year-over-year revenue drop for the company since 2003.
Stocks / HighlightsDow 30 Earnings: Boeing First Quarter 2016
Ian Gendler | 04/27/2016
Shares of The Boeing Company were little changed in pre-market trading after the world's largest aerospace/defense corporation reported disappointing March-period financial results.