+ BA $72 & AMZN $224
Amazon.com rallied the most in the S&P 500, gaining 4.9 percent to $224.59. The world’s largest online retailer reported second-quarter net income of $191 million, or 41 cents a share, topping the 34-cent average analyst estimate. Net sales rose to $9.91 billion, compared with the average prediction for $9.38 billion.
Boeing Co. (BA) rose the most in the Dow, adding 3.1 percent to $72.34, as the Chicago-based company lifted its forecast for full-year earnings. Net income rose 20 percent to $941 million, or $1.25 a share, buoyed by higher commercial sales. The average estimate of 22 analysts surveyed by Bloomberg was for 97 cents. Full-year profit will be $3.90 to $4.10 a share, Boeing said, a jump of 10 cents at each end of its previous range.
Durable Goods Stocks extended losses before the market opened as the U.S. Commerce Department said bookings for goods meant to last at least three years fell 2.1 percent in June after a 1.9 percent gain the prior month that was smaller than last reported. The median forecast of 76 economists surveyed by Bloomberg News projected a 0.3 percent increase. Orders excluding transportation equipment rose less than forecast and demand for business equipment dropped. The Federal Reserve will release its Beige Book of commentary on the economy at 2 p.m.
“It’s a very mixed market environment,” Michael C. Aronstein, who manages $1.1 billion as president of New York- based Marketfield Asset Management LLC, said in a telephone interview. “There are sectors, companies and countries that are doing really well, while there are others that are very distressed.” |
