Mid-Day Market Update: Google Jumps On Upbeat Results; Acacia Research Shares Drop

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Midway through trading Friday, the Dow traded down 0.09 percent to 15,358.35 while the NASDAQ surged 0.85 percent to 3,896.14. The S&P also rose, gaining 0.33 percent to 1,738.88.
Top Headline
General Electric Co
GE
reported an
8.6% drop
in its third-quarter net profit. GE's quarterly profit declined to $3.2 billion, or $0.31 per share, down from $3.5 billion, or $0.33 per share, in the year-ago period. Its operating earnings came in at $0.36 per share. Excluding one-time items, it earned $0.40 per share. Its total revenue fell to $35.7 billion from $36.3 billion. However, analysts were expecting a profit of $0.35 per share on revenue of $35.96 billion. Revenue from GE Capital declined 5.4% to $10.67 billion.
Equities Trading UP
Align Technology
ALGN
shot up 23.19 percent to $56.58 after the company reported upbeat third-quarter results. Shares of Baker Hughes
BHI
got a boost, shooting up 7.49 percent to $55.66 on upbeat third-quarter results. Google
GOOG
was also up, gaining 12.04 percent to $995.79 after reporting
better-than-expected
third-quarter results.
Equities Trading DOWN
Shares of Ariad Pharmaceuticals
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ARIA
were down 39.22 percent to $2.74 after the company
announced discontinuation
of the Phase 3 EPIC trial of Iclusig. Advanced Micro Devices
AMD
shares tumbled 12.03 percent to $3.60 after the company reported a 6% fall in its personal computer chip sales. Acacia Research
ACTG
was down, falling 21.89 percent to $15.33 after the company reported Q3 results. Stephens downgraded the stock from Overweight to Underweight.
Commodities
In commodity news,
oil traded up 0.44 percent
to $101.11, while gold traded down 0.53 percent to $1,316.00. Silver traded up 0.01 percent Friday to $21.95, while copper rose 0.24 percent to $3.31.
Euro zone
European shares
were higher
today. The Spanish Ibex Index rose 0.65 percent, while Italy's FTSE MIB Index gained 0.12 percent. Meanwhile, the German DAX rose 0.39 percent and the French CAC 40 surged 0.91 percent while U.K. shares climbed 0.66 percent.
Economics
There were no major economic releases Friday morning.
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Posted In: EarningsNewsGuidanceEurozoneCommoditiesForexGlobalEcon #sEconomicsHotIntraday UpdateMarketsMoversTech
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