NEW YORK (CNNMoney) -- This earnings season, the market has been unforgiving to any company that fell short of expectations.
Akamai Technologies (AKAM) missed earnings estimates by a cent and its stock crashed almost 17% to a new low for the year. The Internet data delivery company blamed the results to pricing pressure from growing competition.
Shares of Exxon Mobil (XOM, Fortune 500) slid 1.5% after its latest earnings fell 2 cents short of the consensus estimate. The oil producer still has the biggest market cap in the world.
Sprint (S, Fortune 500) plunged 18% after reporting larger than expected loss for the second quarter. The mobile operator announced a deal for "spectrum sharing" with privately owned LightSquared.
These are some of the popular themes on StockTwits Thursday:
sspencer_smb: If u were the hedge fund left holding the bag w/ $AKAM when all your fake takeover rumors failed. sorry :)
Ziggystz:$AKAM is now trading at 18x trailing 1year earnings ex net cash. Lowest multiple i can see in the last 3 years.
karleggerss: Today's a good example of why to use an #ETF in a lot of cases. $XOM misses and is down but $XLE is up. #Diversification
MercenaryJack: Exxon misses expectations - stocks are like movies, too high hopes leave a bad taste. $XOM, $MACRO
valuewalk: $S down 11%! Einhorn has had some fiascos lately like $YHOO but that was unique and Sprint he has not sold out of $S. One day means little.
DavidFaberCNBC: $S losing pre-paid subs and spending lots of money to keep what they have. what happened to pricing power in cell biz...it's gone.
Index | Last | Change | % Change |
---|---|---|---|
Dow | 32,627.97 | -234.33 | -0.71% |
Nasdaq | 13,215.24 | 99.07 | 0.76% |
S&P 500 | 3,913.10 | -2.36 | -0.06% |
Treasuries | 1.73 | 0.00 | 0.12% |
Company | Price | Change | % Change |
---|---|---|---|
Ford Motor Co | 8.29 | 0.05 | 0.61% |
Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
General Electric Co | 13.00 | -0.16 | -1.22% |
Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
Overnight Avg Rate | Latest | Change | Last Week |
---|---|---|---|
30 yr fixed | 3.80% | 3.88% | |
15 yr fixed | 3.20% | 3.23% | |
5/1 ARM | 3.84% | 3.88% | |
30 yr refi | 3.82% | 3.93% | |
15 yr refi | 3.20% | 3.23% |
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