U.S. stocks were in the green on Friday ahead of the U.S. government injecting money into the economy. President Donald Trump said most of the $484 billion will be designated to small business to keep workers on their payroll. The Dow Jones Industrial Average gained 0.32% to 23,589, the S&P 500 index rose 0.67% to2,816 and the Nasdaq Composite Index advanced 0.92% to 8,573.
Non-index stocks have also posted gains and losses recently.Shares of Intel Corp. (INTC, Financial) fell 1% on Friday after the company announced first-quarter results on Thursday. It posted earnings of $1.45 per share, beating estimates by 11 cents. Revenue of $19.38 billion registered 23.2% year-over-year growth,and beat analyst´s expectations by $1.17 billion.
“The role technology plays in the world is more essential now than it has ever been, and our opportunity to enrich lives and enable our customers' success has never been more vital," Interim CEO Bob Swan said. "Guided by our cultural values, competitive advantages and financial strength, I am confident we will emerge from this situation an even stronger company."
During the quarter, the company recorded 34% data-centric revenue growth and 14% PC-centric revenue growth year over year.
Moreover, the company generated $6.2 billion in cash from operations and $2.9 billion in free cash flow. Further, it financed its operations with $10.3 billion in new debt and the suspension of share buybacks, improving its liquidity and dividend payments.
Looking ahead to the next quarter, the company expects revenue of $18.5 billion. It also projected GAAP earnings per share of $1.04 and non-GAAP earnings of $1.10.
Bill Nygren (Trades, Portfolio) trimmed his stake by 17% to 5,053,000 shares and Robert Olstein (Trades, Portfolio) reduced his position by 9% to 164,000 shares. Ray Dalio (Trades, Portfolio) sold out the stock, while Joel Greenblatt (Trades, Portfolio) boosted his holding by 7% to 281,940 shares.
Gainers
- Sysco Corp. (SYY, Financial) +8%
- Freeport-McMoRan Inc. (FCX, Financial) +7.4%
- Carmax Inc. (KMX, Financial) +6%
- Invesco Ltd. (IVZ, Financial) +5.8%
- PulteGroup Inc. (PHM, Financial) +5.4%​
Losers
- Helmerich and Payne Inc. (HP, Financial) -8%
- Boeing Co. (BA, Financial) -6%
- SL Green Realty Corp. (SLG, Financial) -3.4%
- Gap Inc. (GPS, Financial) -3.2%
- Kohl's Corp. (KSS, Financial) -3.7%
- L Brands Inc. (LB, Financial) -3.7%
Global markets
The main European stock markets traded in the red. The U.K.'s FTSE 100 fell 1.28%, France's CAC 40 slid 1.30%, Germany's Dax dipped 1.69% and Spain's Ibex 35 swelled 1.97%.
In Asia, Japan's Nikkei 225 fell 0.86%, India’s BSE Sensex retreated 1.06%, Hong Kong's Hang Seng declined 0.61% and China's Shanghai Composite slid 1.06%.
Disclosure:The author holds no positions in any stocks mentioned.
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