Business Other News 23 Apr 2016 Microsoft and Alphab ...

Microsoft and Alphabet tumble, Skechers and AMD climb

AP
Published Apr 23, 2016, 10:43 am IST
Updated Apr 23, 2016, 10:43 am IST
The shoe company reported a bigger profit and greater sales than expected in the first quarter.
New York Stock Exchange
 New York Stock Exchange

New York: Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq stock market: NYSE Skechers USA Inc., up $1.93 to $32.73 The shoe company reported a bigger profit and greater sales than expected in the first quarter. Norfolk Southern Corp., up $8.70 to $91.33.

 The railroad's quarterly profit rose as it slashed costs, and its revenue fell a bit less than expected. Boston Beer Co., down $13.90 to $159.41 The brewer cut its annual forecast and said sales competition is up and consumers are more interested in variety and innovation. Hanesbrands Inc., up 37 cents to $28.55 The underwear, T-shirt and sock maker posted a bigger profit than investors expected.

 

Nasdaq Advanced Micro Devices Inc., up $1.37 to $3.99 The chipmaker's sales were stronger than analysts expected and it forecast solid results for the current quarter. Alphabet Inc., down $42.23 to $737.77

The Google parents' first-quarter results disappointed investors as the average price of its ads fell. Microsoft Corp., down $4 to $51.78 The tech giant reported a surprise drop in profit and revenue as its business software and Internet-based services did worse than expected. Starbucks Corp., down $2.96 to $57.68 The coffee chain's sales growth disappointed and it warned that its transition to a new consumer rewards program could be bumpy.

 

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