Nasdaq Erases 1.4% Rebound After Tech Stocks Lose Momentum

Stocks struggle to climb higher after losing momentum in the final hour of trading. The Nasdaq jumped as high as 1.7% but closed down. Microsoft gained 5% and Google declined 4%.

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Skechers Net Rises 23% On Record Quarterly Sales

Skechers USA Inc reported first-quarter 2022 sales increased 27% and earnings rose 23%. The third-largest footwear brand is on track to achieve $10 billion sales by 2026.

SKX

Chipotle Revenues Rise 16%, Plans to Add 235-250 Restaurants

Chipotle Mexican Grill, Inc said higher labor and food costs were offset by price increases across the menu. Comparable restaurant sales increased 9% and digital sales account for 42% of total food and beverage sales.

CMG

Stocks Rebound in New York and Europe, Russia Halts Gas Flow to Poland and Bulgaria

Benchmark indexes opened higher a day after the Nasdaq Composite index dropped to a new low in 2022. European markets rebounded and Russia halted gas deliveries to Poland and Bulgaria. In Asia, indexes in Japan and India dropped but in Shanghai rebounded.

Alphabet Revenue Growth Slows, Plans $70 Billion Buyback

Alphabet Inc, parent of Google, said quarterly revenue growth slowed to 23% from 34% in the year ago period. YouTube revenue growth fell short of expectations and cloud services segment revenues soared 44%.

GOOG

Microsoft Quarterly Revenues Up 18%, Net Income Up 8%

Microsoft said March quarter revenues increased 18% driven by strong performance in its enterprise, personal, and cloud computing segments.

MSFT

Nasdaq Plunges 4% Extending Year's Loss to 21%

Tech selloff intensified in the afternoon trading after nervous investors decided to sell stocks ahead of earnings. Nasdaq entered the bear territory with a loss of 21% in the year so far.

NFLX MSFT JPM NKE TSLA

UPS Revenues Jump on Price Increases, Shipment Volumes Fall

UPS reported first-quarter 2022 revenues increased 6.4% and adjusted net income rose 10% from a year ago. Average Total domestic package volumes declined to 19.7 million from 20.4 million a year ago.

UPS

PepsiCo Net Benefits from Higher Prices and Volumes, Lifts Outlook

PepsiCo said first-quarter 2022 revenues rose 9.3% and reported better-than-expected earnings on strong performance in its food and beverage businesses. The company also lifted its annual outlook.

PEP

Nasdaq Down 2% On Tech Earnings Jitters

The S&P 500 index fell 1.4% and Nasdaq Composite dropped 2% as investors await earnings from tech leaders this evening. Crude oil added 1.6% to trade above $100 a barrel and U.S. Treasury 10-year bond yield edged lower. European markets trimmed early gains.

UPS PEP MSFT

Mega Cap Techs Drive Market Reversal, Twitter Says Yes to Musk

Stocks made a comeback in the afternoon trading after bond yields and crude oil prices eased and investors focused on the upcoming earnings from tech leaders. Twitter accepted a $4 billion deal from a company controlled by billionaire investor Elon Musk.

TWTR MSFT GOOG AAPL

Coca-Cola Sales Rise 16%, Net Jumps 24%

The Coca-Cola Company reported first quarter 2022 revenues increased 16% on unit case volume growth, improved business mix and price increase. Sparkling soft drinks grew 7% driven by increases in all geographies and hydration, sports, coffee and tea reported 10% increase in the quarter.

KO

Stocks Extend April Sell-off as Stagflation Prospects Rise

The S&P 500 and Nasdaq Composite indexes extended losses to the fourth week and April month sell-off as coronavirus cases spike in China. The new tough measures in China are likely to prolong supply chain disruptions as Shanghai enters the fourth week of lockdown. Bond yields and crude oil prices ease.

Danaher Quarterly Revenues Advanced 12%, Net Income Up 1%

Danaher Corp said first quarter 2022 revenues rose 12% driven by a 4% increase in Covid-19 related testing revenues. Net income was flat. Diagnostic segment revenues in the quarter rose 21.5% followed by 9.5% growth in the Life Sciences segment.

DHR

Pool Corp's Earnings Surge With Hikes in Prices, Inventories, Total Debt

Pool Corp said first quarter 2022 revenues surged 33% and net income soared 82% from a year ago. The pool supplies wholesale distributor said early inventory build up, prices hikes between 10% and 12%, and recent acquisitions funded with debt helped the latest quarterly results.

POOL