NEW YORK, May 3, 2019 /PRNewswire/ -- U.S. stocks focused on corporate financial results again this week. Specifically, investors weighed in on the technology companies which reported this week. The companies reported mixed results throughout the week, causing a shaky overall market. On Monday, markets edged higher throughout the day as investors focused in on Spotify's quarterly results. However, during Monday's extended trading hours, Alphabet's worse-than-expected revenue growth caused markets to pull back. Then on Tuesday, markets quickly retreated throughout the day, erasing the gains from Monday. Despite Alphabet's pullback, markets began to recover after the Dow Jones Industrial Average plunged by 144 points or 0.5%. Investors focused their attention on Apple, as the Company reported its first-quarter results after the market close on Tuesday. Apple reported better-than-expected earnings, resulting in a strong opening on Wednesday, but the release of the ISM Manufacturing Index report for April caused markets to quickly nose dive. The report fell short of expectations which caused the Dow Jones Transportation Average to slip by 130 points or 1.2%. The Dow Jones Industrial Average retreated by as much as 312 points or 1.17% throughout Wednesday. Wednesday's bearish close carried on into Thursday following the Federal Reserve's policy update. Alphabet Inc. (NASDAQ: GOOGL), Apple Inc. (NASDAQ: AAPL), Advanced Micro Devices, Inc. (NASDAQ: AMD), Square, Inc. (NYSE: SQ), Under Armour, Inc. (NYSE: UA)

Chairman Jerome Powell emphasized at a conference about a healthier global domestic growth picture and indicated that neither a rate reduction or a rate hike were happening any time soon. Powell's decision undermined investor's expectations that a near-term rate reduction was likely to happen. The Fed's update caused the Dow Jones to slip by 230 points or 0.8% on Thursday. The S&P 500 Index also tumbled by 30.63 points or 1.0%, while the Nasdaq Composite fell by 116.42 points or 1.4%. "I think investors need to get into their heads that the period of low inflation, low interest rates and monetary policy continuing to provide nothing but stimulus is over," Abby Joseph Cohen, senior U.S. investment strategist at Goldman Sachs, told CNBC's "Squawk on the Street." "Markets instead should be looking at the economy and profits. It's a good picture and one we think makes sense."

Alphabet Inc. (NASDAQ: GOOGL) shares plunged by 8.2% on Tuesday morning after the tech giant reported that its ad revenue was slowing down. Additionally, the Company also missed analysts' revenue estimates. For the first quarter, Alphabet reported earnings of USD 11.90 per share on revenue of USD 36.34 Billion. Analysts expected earnings of USD 10.61 per share on revenue of USD 37.33 Billion. Total revenue grew by 17% year-over-year for the quarter, however, Alphabet reported slowing growth compared to the first quarter last year. The same period last year, Alphabet reported total revenue of 26% year-over-year. Alphabet's total traffic acquisition cost was USD 6.86 Billion for the quarter, compared to USD 6.28 Billion last year. TAC also missed analysts' estimates of USD 7.26 Billion.

Apple Inc. (NASDAQ: AAPL) reported its second quarter financial results after the closing bell on Tuesday. The Company surpassed quarterly estimates and provided a stronger-than-expected guidance causing shares to rise by 4%. For the quarter, Apple reported earnings of USD 2.46 per share on revenues of USD 58.02 Billion. Refinitiv analysts expected earnings of USD 2.36 per share on revenues of USD 57.37 Billion. Apple's Products revenue slipped down to USD 46.56 Billion compared to USD 51.28 Billion the same period last year. On the other hand, service revenues grew from USD 9.85 Billion last year to USD 11.45 Billion. Apple's weaker Product revenue was a direct result of its lower iPhone sales. iPhone revenue fell from USD 37.55 Billion last year compared to USD 31.05 Bill this quarter.

Advanced Micro Devices, Inc. (NASDAQ: AMD) reported its first quarter financial results after the market close on Tuesday. The chipmaker surpassed estimates for both revenue and earnings, which sent shares 4.4% higher at the opening bell on Wednesday. AMD reported earnings of USD 0.06 per share on revenues of USD 1.27 Billion. AMD narrowly beat analysts' earnings estimates of USD 0.05 per share and anticipated revenues of USD 1.26 Billion. Despite the beat, AMD's revenue has now fallen by 23% year-over-year primarily due to lower revenue in its Computing and Graphics segment. Revenue was also down 10% sequentially due to lower client processor sales. AMD's Computing and Graphic segment revenue was USD 831 Million for the quarter, down 26% year-over-year and 16% quarter-over-quarter. The lower revenue was due to lower graphic channel sales, which was partially offset by increased client processor and datacenter GPU sales.

Square, Inc. (NYSE: SQ) reported its first quarter financial results during Wednesday's extended trading hours. The Company reported a weaker-than-expected payment volume which caused shares to tumble by 7.8% on Thursday morning. For the first quarter, Square reported earnings of USD 0.11 per share on revenues of USD 489 Million. Analysts expected earnings of USD 0.08 per share on revenues of USD 478 Million. Despite Square surpassing revenue and earnings estimates, the Company missed its payments volume which caused shares to fall. Square also reported that gross payments volume (GPV) was USD 22.6 Billion during the quarter, under analysts' estimates of USD 22.8 Billion. As for Square's second quarter, the Company is expecting earnings between USD 0.14 and USD 0.16 per share on revenue between USD 545 Million and USD 555 Million. Square's light guidance also came in below analysts' expectations.

Under Armour, Inc. (NYSE: UA) reported its first quarter financial results before the opening bell on Thursday. The sports retailers reported better-than-expected results and also provided a higher guidance, causing shares to jump by 9.4%. For the quarter, Under Armour reported earnings of USD 0.05 per share on revenues of USD 1.21 Billion. Analysts expected earnings to break even per share on revenues of USD 1.18 Billion. Under Armour reported that its revenue increased by 2% year-over-year, primarily driven by its Wholesale and Apparel revenue growth. Wholesale revenue increased by 5% to USD 818 Million, however, Under Armour's direct-to-consumer revenue fell by 6% to USD 331 Million. As for the rest of the fiscal year, Under Armour expects to report earnings in between USD 0.33 to USD 0.34 per share compared to its previous estimate of USD 0.31 to USD 0.33 per share. Under Armour is still expecting revenue to increase between 3% to 4% due to flat results from its North American region.

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