Economics
LinkedIn’s Forecast Shortfall Overshadows S&P 500 Earnings Beats
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MasterCard Inc., Cigna Corp. and Exxon Mobil Corp. all posted profits that topped analysts’ estimates today, as consumer spending surged and the labor market improved in an otherwise anemic quarter for the U.S. economy.
Beating predictions wasn’t enough for professional-networking service LinkedIn Corp., whose stock sank in late trading after its second-quarter sales forecast disappointed. Expedia Inc. and Wynn Resorts Ltd. also came in higher than anticipated, leaving the pace at which Standard & Poor’s 500 Index first-quarter earnings exceeded estimates at 75 percent for the season so far, according to data compiled by Bloomberg.