GDP disappoints, markets open lower

The nation's economy edged up a disappointing 0.2% in the first quarter to weigh the markets down to a lower open with Dow falling 66 points to 18,043. Nasdaq lost 19 points to 5,035.

On the upside

First quarter earnings fell for Starwood Hotels (NYSE: HOT) but the results were better than expected and the company hired Lazard to explore strategic alternatives.

Goodyear Tire & Rubber (Nasdaq: GT) reversed year ago losses to post a stronger than expected profit for the first quarter.

Level 3 Communications (NYSE: LVLT) reported higher first quarter earnings and revenue.

On the downside

Wynn Resorts (Nasdaq: WYNN) fell to a greater than expected loss for the first quarter.

Humana (NYSE: HUM) reported higher first quarter earnings but the results fell short of expectations.

Coach (NYSE: COH) reported sharply lower third quarter earnings and revenue.
The broader S&P 500 lost 7 points to 2107. Bitcoin held steady at $225.

About this Entry

This page contains a single entry by published on April 29, 2015 6:45 AM.

Mixed close as consumer confidence falls was the previous entry in this blog.

Markets plummet on disappointing GDP is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12