We’re in peak earnings season.
In early trading on Friday, these five stocks were making big moves after reporting first quarter results:
- Amazon rallied by more than 15% after its earnings blew past forecasts. The company also said Amazon Web Services, its cloud computing business, is doing much better than expected.
- Microsoft rallied by up to 7.5%, beating earnings expectations despite a softer PC market.
- Starbucks climbed by more than 5% after the company reported better-than-expected sales for stores open at least 13 months.
- Google shares advanced by more than 2.5%. Despite the company’s earnings and revenues missing forecasts, investors seem satisfied with the pace of growth.
- Biogen shares fell more by more than 6% because even though profits surged 71%, the biotech company missed on earnings and revenues.
The major stock indexes were little changed in early trading after the Nasdaq closed at a record high on Thursday.
Near 10:33 a.m. ET, the Dow was up 1 point, the S&P 500 was up 3 points, and the Nasdaq was up 34 points.
And in economic data, headline durable goods orders jumped 4.0%, beating expectations for a 0.6% due to robust vehicle and aircraft orders.
Nondefense capital goods orders excluding aircraft — an important measure of business spending — unexpectedly fell by 0.5%. Economists were looking for a 0.3% gain.