After-Hours Recap: The Markets' Big Week And Some After-Hours Movers
After an eventful week filled with earnings and plenty of volatility in the energy sector, Wall Street finished pretty much flat on Friday
Driven by disappointing financial results in several major tech companies, including Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) and Microsoft Corporation (NASDAQ: MSFT), the Nasdaq 100 Index slipped 0.8 percent, marking the largest move among the main U.S. stock indexes on Friday. In fact, the largest decliners in the tech-heavy index were Microsoft, which lost 7.17 percent, and Alphabet, Google’s parent company, which tumbled more than 5.3 percent. Another big loser was Starbucks Corporation (NASDAQ: SBUX), which lost 4.88 percent on disappointing results as well, especially on the revenue front.
Microsoft and Alphabet also weighed on the S&P 500 Index, which ended the day completely flat, helped by Southwestern Energy Company (NYSE: SWN), which gained 15 percent on surging energy prices, and Norfolk Southern Corp. (NYSE: NSC), which rose 10.54 percent on strong financial results and a few positive analyst ratings.
Finally, the Dow Jones Industrial Average closed up 0.12 percent on Friday, partly driven by The Coca-Cola Co (NYSE: KO), which was up 2.04 percent, and the Travelers Companies Inc (NYSE: TRV), up 1.66 percent.
For the whole week, the Dow gained 0.6 percent and the S&P 500, 0.5 percent. As investors might expect after the sluggish tech earnings, the Nasdaq fell 0.6 percent over the past five days.
Among the stocks moving in Friday’s after-hours session, investors can count:
- Infoblox Inc (NYSE: BLOX), which rose roughly 5.8 percent in after-hours, continuing with the 1.49 percent surge seen during the day.
- Procter & Gamble Co (NYSE: PG), which was slightly up after the market closed, ahead of its earnings call next Tuesday.
- NGL Energy Partners LP (NYSE: NGL), down roughly 2.5 percent, giving up some of the gains (more than 23.3 percent) seen during the day – which were a reaction to higher gas prices.
- Yum! Brands, Inc. (NYSE: YUM), down 2.2 percent since the bell rang, probably driven by the company’s intention to sell its strongly-performing China division.
- Yamana Gold Inc. (USA) (NYSE: AUY), up 2.9 percent in after-hours, in what seemed like a correction of the 2.51 percent tumbled witnessed over the regular trading session – caused by declining gold prices.
- Ctrip.com International, Ltd. (ADR) (NASDAQ: CTRP), down about 21 percent in after-hours, likely reacting to reports that the company has agreed to take a stake in state-owned carrier China Eastern Airlines.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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