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Published on Oct 21, 2016
Stocks
turned mixed as Microsoft pulled the Nasdaq higher and General Electric
dragged on the Dow Jones Industrial Average. A better-than-expected
quarter from Microsoft pushed its shares to trade at new records. Time
Warner spiked on reports AT&T execs are in advanced talks to
purchase the media company. A deal could be announced as soon as this
weekend, according to the Dow Jones. Honeywell reported a mixed quarter,
topping earnings but falling short on sales. The company blamed
surprise weakness in September and overall softness in its aerospace
business. Honeywell expects earnings to grow by double digits in the
current quarter. PayPal jumped as the number of active customer accounts
drove an 18% increase in quarterly sales. The number of active accounts
rose 11% over its third quarter.
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