News Column

Microsoft, Tech Earnings Push Stocks Up

October 25, 2013

Associated Press

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Tech earnings drove stocks Friday morning, with Microsoft leading the Dow. (Associated Press)

NEW YORK (AP) Earnings gains from big U.S. companies are pushing the stock market higher.

Microsoft led the Dow Jones industrial average higher after reporting rising sales of tablet computers.

The Dow was up 29 points, or 0.2 percent, at 15,538 as of noon Eastern time Friday.

The Standard & Poor's 500 was up two points, or 0.2 percent, at 1,754. The S&P is at a record high.

The Nasdaq composite was up 10 points, or 0.3 percent, to 3,939.

Technology stocks were among the biggest gainers.

Microsoft rose $2.36, or 7 percent, to $36.09 after beating analysts' forecasts for revenue and earnings. The company is shifting from PC-based software to devices and services.

Amazon.com jumped $34.86, or 10 percent, to $366.90 after reporting a 24 percent jump in revenue.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Original headline: Tech earnings drive stocks up; Microsoft leads Dow


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Source: Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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