The markets mostly traded flat today as investors seemed happy with wrapping up the busy earnings week up early. The Dow 30 closed lower by 12, the S&P 500 added 3, and the Nasdaq 100 closed higher by 1. Focus remains on earnings and the slew of good economic news as Washington is mostly quiet for now.
Intel (NASDAQ: INTC) shares were higher on the day today, but did close off their highs of the session. Investors responded to their earnings beat with a move to new, 17-year highs. The company saw earnings growth of 32% thanks to an increase in sales. All of the chip makers did well this season, and most have seen higher prices because of it. For the year the stock is higher by over 15%.
Amazon (NASDAQ: AMZN) shares popped 3.60% on the day after reporting earnings after the close yesterday. Shares moved to new highs after the company reported earnings that came in 100% higher than expectations on revenue that was 43% higher year over year. This is the 5th straight quarter of sales growth with $51 billion for the previous quarter. It should be noted that most of the overall profit came from Amazon's Web Service, which now stands at $5.4 billion.
Microsoft (NASDAQ: MSFT) shares reached a new high this morning. The company saw earnings higher by 35% compared to a year ago. The main focus was on their continued efforts to move to a cloud-based operation, which now accounts for 58% of all revenue. Technical traders noted the breakout of the year's range, but would have liked to see prices close near highs.