- NASDAQ extends record high as tech companies surge.
- Microsoft quarterly earnings beat forecasts, but Amazon and Google miss Wall Street’s mark.
The technology-heavy NASDAQ Composite Index extended its record high on Friday, as shares of Google, Microsoft and Amazon rose.
The NASDAQ Index rose 0.71 percent or 36.02 points to 5,092.09, extending Thursday’s record high. The benchmark gauge climbed above its dot-com peak and has nearly quadrupled since the stock market bottomed out in March 2009.
Elsewhere, the Dow Jones Industrial Average (DJI) posted a gain of 0.12 percent or 21.45 points to 18,080.14. The S&P 500 Index climbed 0.23 percent or 4.76 points to 2,117.69.
The technology sector earned $194 billion in2014, compared with $67 billion in 2000, according to Bloomberg News. That $194 billion accounted for almost 20 percent of the S&P 500 as a whole last year.
Microsoft Corporation (NYSE: MSFT) posted an earnings per share of 61 cents on $21.73 billion in revenue for its fiscal 2015 first quarter, well above forecasts calling for 51 cents. The global software leader said strong growth in hardware and cloud applications outweighed the negative impact of a strong dollar on international sales. Microsoft’s share prices soared 10.5 percent to $47.87 by midday on Friday.
Amazon.com (NYSE: AMZN) posted a net loss of $57 million for the first quarter of 2015 on revenues of $22.72 billion. The company said it expects second quarter sales of up to $22.8 billion, in line with expectations. Share prices surged 14.1 percent on Friday to $445.10.
Shares of Google Inc. (NYSE: GOOG) climbed 3.3 percent to $565.06, as the company’s quarterly earnings and revenue missed Wall Street’s projections. Google’s first quarter earnings per share of $6.57 was slightly below forecasts calling for $6.60, but was well above the year-ago EPS rate of $6.27.