Mid-Morning Market Update: Markets Edge Lower; General Electric Tops Q1 Estimates
April 21, 2017 - 10:03am
Following the market opening Friday, the Dow traded down 0.06 percent to 20,566.82 while the NASDAQ declined 0.11 percent to 5,910.15. The S&P also fell, dropping 0.11 percent to 2,353.25.
Leading and Lagging Sectors
Friday morning, the utilities sector proved to be a source of strength for the market. Leading the sector was strength from Middlesex Water Company (NASDAQ: MSEX) and NextEra Energy Inc (NYSE: NEE).
In trading on Friday, energy shares fell by 0.50 percent. Meanwhile, top losers in the sector included CARBO Ceramics Inc. (NYSE: CRR), down 4 percent, and W&T Offshore, Inc. (NYSE: WTI), down 3 percent.
General Electric Company (NYSE: GE) reported better-than-expected earnings for its first quarter on Friday.
GE posted adjusted earnings of $0.21 per share in the quarter on revenue of $27.7 billion; Analysts were expecting the company ...Full story available on Benzinga.com
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