Wednesday, April 22, 2009

Wall Street Turned Back Due To Companies' Good Earnings (April 22, 2009)

The stock market rose at the opening due to companies' good earnings. The companies' report have ditched the investors' concern about Morgan Stanley's disappointing report. The companies are Yahoo Inc., Boeing Co., Well Fargo & Co., McDonald's Corp. and AT&T Inc.

Yahoo's first quarter earnings fell to $118 million (dropped 78%), and its decision to remove only 700 of its employees has increased the company's stock price.

Boeing's earnings fell to $610 million (86 cents per share), wheras the company earned $1.21 billion at last year's first quarter.

Well Fargo reported that they earned $2.38 billion (56 cents per share), higher than its last year first quarter earnings $2 billion.

McDonald's announced that its profit rose to $979.5 million (87 cents per share), higher than its last year's first quarter profit ($946.1 million / 81 cents per share).

AT&T announced that it earned of around $3.1 billion (53 cents per share) down 10 percent from its last year's first quarter earnings ($3.5 billion / 57 cents per share).

Almost all of the above companies' earnings exceed the analysts' estimates, causin the stock market has increased, so it giving rise to the stock market.

One of today's negative news is about Morgan Stanley's miserable first quarter report, where the bank lost $ 578 million (57 cents per share). This made the company's stock price fell 69 cents (2.8 percent), to $23.96 in morning trading.

News on this day gave one more evidence that at least the companies has started to showed improvement again..

Stay alert!

1 comments:

info said...

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