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Tesla surprises with quarterly profit

Wednesday, October 26, 2016 - 01:21

After the bell Tesla reversed a year-ago loss on record deliveries. Earlier in the day, stocks closed mixed on earnings from names like Boeing and Coca Cola. Jeanne Yurman reports.

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A surprise quarterly profit from Tesla Wednesday after the bell. This as the electric carmaker reported record deliveries. Stocks closed mixed as investors sifted through the latest earnings news including Apple's first profit decline since 2001. Eric Wiegand is senior portfolio manager at U.S. Bank. SOUNDBITE: ERIC WIEGAND, SENIOR PORTFOLIO MANAGER, U.S. BANK (ENGLISH) SAYING: "We do think, in order to see meaningful improvement in the markets from here, we will need to see evidence of further earnings growth." To inject new interest in its declining computing business, Microsoft unveiled a free update to its Windows operating system, Creators Update. It lets users take 3D photos. And it introduced the Surface Studio, a stylish desktop computer. Coca Cola's revenue beat forecasts on higher soda prices and strong demand for water and sports drinks in North America. Boeing's earnings came in better-than-expected as cost cutting offfset a slide in revenue, and it boosted its delivery forecast. New home sales - a tenth of all U.S. home sales - rose more than three percent in September pointing to ongoing demand in the housing market. In Europe, stocks lost their grip on early gains, closing lower on the day.

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Tesla surprises with quarterly profit

Wednesday, October 26, 2016 - 01:21