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Amazon, Alphabet, and Microsoft earnings wins

Thursday, October 22, 2015 - 01:32

A triple win for three big tech companies in after-hours earnings. Stocks posted strong gains during the regular trading day on strong corporate results. Bobbi Rebell reports.

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A triple win on the after hours earnings front. Amazon reporting a profit of 17 cents a share - a loss had been expected. They are expecting a record holiday season, Alphabet beating forecasts. The Google parent company also announced a stock buyback. Paid click growth up 23 percent. And Microsoft with better than expected results, seeing strength in their cloud business. A powerful broad-based rally on Wall Street. Strong earnings from McDonald's and eBay fueled the Dow and Nasdaq to nine-week highs. So did ECB chief Mario Draghi's willingness to extend the bank's stimulus program. His comment also turbocharged European shares higher. Alliance Global Investors' Kristin Hooper: SOUNDBITE: KRISTINA HOOPER, U.S. INVESTMENT STRATEGIST, ALLIANZ GLOBAL INVESTORS (ENGLISH) SAYING: "I think it was Mario Draghi. What we saw is really over the last few years, Mario Draghi's comments and the ECB in general having a lot of power over the markets." McDonald's grew its U.S. same-store sales for the first time in two years. Its CEO is trying to turn around the fast food giant. eBay's quarterly profit fell but beat estimates, and the online auction site raised its full year profit forecast. The biggest loser on the Dow: American Express. The strong dollar and rising costs hurt revenue. The credit card issuer's quarterly profit missed estimates. Jobless claims rose less than expected last week. And home resales rose more than expected in September. But homebuilder PulteGroup's quarterly profit dropped sharply as it sold fewer homes.

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Amazon, Alphabet, and Microsoft earnings wins

Thursday, October 22, 2015 - 01:32