Stock movers: Colgate-Palmolive Co. (CL) reported revenue below forecasts, sending its shares down 1.5%. Shares of Western Digital Corp.(WDC) surged 3.8% after the computer-data storage company late Thursday reported revenue and profit that topped forecasts.
Oil heavyweights Exxon Mobil Corp.(XOM) and Chevron Corp.(CVX) reported earnings above estimates, sending their shares higher.
Big gains from tech heavyweights Amazon.com Inc.(AMZN) and Alphabet Inc. (GOOGL) (GOOGL) following upbeat earnings helped to slow the index’s slide.
(http://www.marketwatch.com/story/heres-what-would-happen-during-a-government-shutdown-2017-03-29)The S&P 500 index was off by 5 points, or 0.2%, to 2,383 with eight of the 11 main sectors trading lower.
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Apple’s iPhone plans Apple announces its earnings results on Tuesday afternoon, and given that the company generates a significant portion of U.S. corporate earnings, the announcement could move the broader market.
In fact, this quarter’s sales gains might look paltry compared to the 57% spike Facebook enjoyed for the full 2016 year.
As it did late last year, Activision will likely benefit from growth in digital sales, which should push profitability higher.
For evidence of that trend playing out, look for Facebook to show continued increases in its user base even as operating margin improves.
Consensus estimates call for sales to jump 20% in the seasonally weak period to just over $1 billion.
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Facebook continued increases in its user margin improves
A total of around 7.1 billion shares were traded on Thursday, higher than the last 20-session average of 6.5 billion shares.
Moreover, the company reported earnings of $1.48 per share in the reported quarter, beating the Zacks Consensus Estimate of $1.03.
Moreover, the company reported earnings of $0.53 per share in the reported quarter, which increased by more than 23% a year earlier.
The company reported earnings of $0.44 per share, surpassing the Zacks Consensus Estimate of $0.41 per share.
The company reported revenues of $20.46 billion, an increase of 8.9% compared the level in the period last year.