The Dow (^DJI) held steady today, ending the day right where it started. The Nasdaq (^IXIC) was up 0.52% and The S&P 500 (^GSPC) was up 0.17% after Facebook (FB) and Apple (AAPL) reported upbeat quarterly earnings after the close Wedneday. Facebook ended down 0.80%. Apple ended the day up 8.20%.
Stocks lost some momentum after reports that Russia’s military was launching exercises along the Ukraine border. A raft of other earnings Thursday were mixed.
Shares of Caterpillar (CAT) helped the Dow after the company beat earnings estimates handily, thanks in part to cost cutting measures. Fellow Dow component Verizon (VZ), meanwhile, missed Wall Street estimates. Verizon completed a deal to gain full control of Verizon Wireless in late February. The company said it would have beat estimates if it had control of Verizon Wireless for the full quarter.
In other corporate news, shares of Zimmer Holdings (ZMH) was up 11.54% after the company said it agreed to buy fellow orthopedic-device maker Biomet for $13.35 billion in cash and stock.
And shares of the French turbine and train maker Alstom soared on a Bloomberg report that General Electric (GE) was in talks to buy the company. Alstom denied it had been approached with a bid from GE, but said the two companies had been in talks in the past. In a statement, Alstom said it would provide an update when it reports earnings on May 7.
- Information Technology
- Verizon Wireless