Earnings euphoria fizzled today as heavy-hitter Google disappointed investors with their premature earnings announcement. Although the tech-giant was scheduled to report after today’s closing bell, it came out early to post earnings of $9.03 a share and a 20% decline in profit, well bellow the expected $10.65 a share forecast. Immediately following the announcement, Google’s stock tumbled, falling as much as 10%. In economic news, weekly jobless claims rebounded to a seasonally adjusted 388,000, hitting the highest level in four months. Meanwhile, the Conference Board’s index of leading indicators ticked higher while Philly Fed manufacturing data from the Mid-Atlantic region also came in significantly better-than-expected [see also How To Pick The Right ETF Every Time]. Global Market Overview: Jobless Claims Soar, Google Disappoints Weighed down by Google’s disappointing earnings, tech-heavy Nasdaq (QQQ) came in at the bottom of the barrel, shedding 1.16%. The Dow Jones Industrial Average (DIA) and S&P 500 (SPY) also [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Isaac Strikes, Beige Book Tells Mixed Story AdvisorShares Launches Long/Short Hedge Fund ETF (QEH) Updated: Which ETFs Will Own Facebook (And When) ETPs For Trading Natural Gas Thursday’s ETF To Watch: DJ Internet Index Fund (FDN)
Earnings euphoria fizzled today as heavy-hitter Google disappointed investors with their premature earnings announcement. Although the tech-giant was scheduled to report after today’s closing bell, it came out early to post earnings of $9.03 a share and a 20% decline in profit, well bellow the expected $10.65 a share forecast. Immediately following the announcement, Google’s stock tumbled, falling as much as 10%. In economic news, weekly jobless claims rebounded to a seasonally adjusted 388,000, hitting the highest level in four months. Meanwhile, the Conference Board’s index of leading indicators ticked higher while Philly Fed manufacturing data from the Mid-Atlantic region also came in significantly better-than-expected [see also How To Pick The Right ETF Every Time]. Global Market Overview: Jobless Claims Soar, Google Disappoints Weighed down by Google’s disappointing earnings, tech-heavy Nasdaq (QQQ) came in at the bottom of the barrel, shedding 1.16%. The Dow Jones Industrial Average (DIA) and S&P 500 (SPY) also [...]
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