The markets were mixed today as earnings, and more Trump news pushed the markets around in a range. The Dow 30 was higher by 32, the S&P 500 lost 1, and the Nasdaq 100 was lower by 1. Tomorrow investors will look to GDP numbers and durable goods numbers that are due out in the morning.
Ford (F ) suffered a 3.21% decline today after reporting a loss of $800 million in the prior quarter. Analysts attributed this to charges from employee pension plans and the cancellation of its planned factory in Mexico. One good thing was that adjusted earnings matched analysts estimates along with revenue. The company also reiterated that its profits for 2017 would be lower than 2016. Shares of the auto maker have been rather wild of late but are still up almost 2% for the year.
Mattel (MAT ) fell apart today as the toy maker announced earnings where profit and sales missed estimates for the prior quarter. This is magnified due to the 4th quarter including the holiday shopping season. Earnings were off by 19%, and revenue fell more than 8%. The company also said that it expects its weak holiday performance to hurt sales in the current quarter. Because of this shares were lower by a whopping 17.65%, making new lows in the process.
Qualcomm (QCOM ) lost another 5.01% today when the company announced a weak outlook for its current quarter as it faces legal and regulatory challenges both at home and abroad. The company also announced an earnings report that was mixed for its last quarter: Shares of the tech company are now lower by over 18% on the year.
