Amazon.com and Microsoft
will be the biggest names reporting first-quarter earnings this week.
Amazon will be reporting its quarterly results after the close on Tuesday, and investors are hoping for better than last quarter, when the online retailer missed earnings estimates by a wide margin.
Analysts are expecting earnings of 23 cents a share from Amazon, and revenues are expected to grow 24% to $1.9 billion. Solid enough numbers if Amazon can deliver, but will the company’s decelerating growth be enough to keep investors happy?
On Thursday, Microsoft will post its quarterly numbers after the bell. Analysts are expecting earnings of 32 cents a share on revenues of $9.83 billion, up 7.1% from the year-ago quarter, and there’s no reason to expect a miss from technology’s steadiest name. The question will be whether the software giant’s numbers are enough to propel its stock higher. Microsoft’s stock has slid 10% since December, but on the plus side, it bottomed last month before the rest of the market, an encouraging sign of strength.
Stocks rose on another Merger Monday, with falling oil prices adding to the gains.
The Nasdaq rose 18 to 1950, the S&P 500 climbed 9 to 1162, and the Dow jumped 84 to 10,242. Volume declined to 1.8 billion shares on the NYSE, and 1.49 billion on the Nasdaq. Advancers led 23-9 on the NYSE, and 18-11 on the Nasdaq. Upside volume was 78% on the NYSE, and 76% on the Nasdaq. New highs-new lows were 49-52 on the NYSE, and 39-116 on the Nasdaq.
Qwest edged higher after it finally got MCI
to accept an offer. Now it’s up to Verizon
to respond.
DoubleClick fell 5% on news that it will be acquired and go private.
Google rose 3.6% to a new closing high, while Apple
gained 4% on an upgrade.