TECH STOCKS FALL: Here's What You Need To Know

detroit michigan skylineGeneral Motors world headquarters (C) is seen along the Detroit river in downtown Detroit, Michigan.

Markets made extremely modest moves to end the week.

First, the scoreboard:

  • Dow: 15,535.6, -12.0, -0.0%
  • S&P 500: 1,691.3, +1.8, +0.1%
  • NASDAQ: 3,585.2, -26.1, -0.7%

And now, the top stories:

  • There were no major economic data or earnings announcement scheduled for today.  But earnings announcements after yesterday’s close caused some volatility.
  • The big loser today was Microsoft, which fell a whopping 12% today. The software giant reported Q2 earnings of $0.59 per share, which missed expectations for $0.75. Among other things, the company took a massive $900 million writedown on its Surface RT tablets.
  • Search giant Google also reported disappointing earnings, however the margin of disappointment wasn’t quite as wide as the Microsoft’s miss.  The stock shed a little over 1% for the day.
  • Chipotle Mexican Grill reported better-than-expected Q2 financial results.  The burrito chain saw same-store sales jump 5.5% during the quarter.  The stock jumped over 8% for the day.
  • Everyone’s still digesting news that Detroit will file for Chapter 9 bankruptcy.
  • Don’t Miss: 25 Reasons Why Detroit Is On The Verge Of An Epic Comeback »

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