What Moved in the Markets Today?

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July 18 (Bloomberg) -- Julie Hyman reports on the latest markets news on Bloomberg Television's "Street Smart." (Source: Bloomberg)

It is 56 past the hour.

Time to check in on what is moving in the market's current -- in the markets.

Initial jobless claims fuelled the numbers, as well as economic activity.

Microsoft coming out with a recent missed analysts' estimates.

And writing down a charge related to inventories.

That is a 7¢ charge and a $900 million writedown.

The window hurt by shrinking demand for personal computers.

Microsoft shares getting hit.

Google also coming out -- and this has been characteristic of tech earnings, missing estimates.

Advertising tied to mobile devices crimping average prices overall.

Google shares also sharply lower.

And then there is advanced micro devices.

This company came out with a forecast that beast -- beat analysts' estimates, but its gross margin is shrinking.

That rounds out the trio of tech companies reporting after the bell, and they are all lower.

In terms of tomorrow morning, general electric, honeywell, suntrust, state street, still a busy day for earnings tomorrow.

Let's talk about earnings overall and how they have been doing.

I want to bring in dominic chu.

I know you look at a summary of how we are in their earnings season.

Where do we stand right now from everyone we have heard from?

We have been talking about how maybe this earnings season has not been showing the momentum we thought it was going to.

If you look at the numbers, we're just about in line.

Right now, with a number of companies that have reported to in the s&p 500, since alcoa unofficially kick off the earnings season, 73% of companies have beat and average estimates.

That is pretty good.

It is in line with past quarters.

Also, about 53% barack 54% are beating on top line sales estimates.

-- about 53, 54% are beating on top line sales estimates.

Analysts can revise their estimates of until just about the 11th hour.

As they begin to ratchet things down on earnings estimates, it becomes a little bit better for companies to beat them.

That is not to say it is a bad or good thing.

Overall, what you're seeing are signs that there is not as much momentum's earnings as there have been in the past.

Correct and when you have ever mark -- a reaction in the market to an earnings statement might has to do with a high-profile companies, the microsoft and googles of the world.

And what we have heard thus far is not necessarily particularly -- when you look at the negative stuff, the financials have been more on the positive side.

It is an interesting diversions right now.

Technology was a laggard in the past year or so.

Financials have always had some momentum.

They will end their earnings season you're pretty soon.

Technology with at the close today and financials were higher.

We will see what happens.

That does it for "on the market."

This text has been automatically generated. It may not be 100% accurate.


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