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The Morning After: Big Tech ETFs Hit New Highs After Earnings D-Day -- Barron's Blog
DOW JONES & COMPANY, INC. 9:47 AM ET 4/28/2017
Symbol Last Price Change
AMZN 946.01 +27.63 (+3.01%)
MSFT 68.56 +0.29 (+0.42%)
QCOM 51.39up -1.82 (-3.42%)
INTC 36.355up -1.075 (-2.87%)
GPRO 8.3162 -0.6238 (-6.98%)
SOCL 26.5411down +0.1111 (+0.42%)
SKYY 39.23up +0.11 (+0.28%)
QUOTES AS OF 09:47:47 AM ET 04/28/2017
It's the morning after the big night. A flood of technology companies, led by the three top cloud companies -- Amazon(AMZN) , Alphabet ( GOOGL) and Microsoft(MSFT) -- released quarterly earnings Thursday night, leaving investors to make sense of it all on this Friday morning.

My colleague Tiernan Ray called it D-Day. And while there was some bloodletting, others stormed the beach, and helped lift some big tech sector ETFs to new highs.

Qualcomm (QCOM) dropped 4% today after it slashed its profit forecast. But Alphabet and Amazon(AMZN) are each up 4% and 3% respectively. Alphabet posted a huge revenue beat and better-than-expected earnings, while Amazon(AMZN) had a big earnings beat as revenue that edged past expectations.

Microsoft (MSFT) inched 0.1% higher after the company posted better-than-expected earnings but missed by a hair on revenue.

Chip maker Intel(INTC) , however, fell 2.7%, though the company posted better-than-expected earnings and also raised its forecast for 2017. And GoPro(GPRO) fell 0.1%, though the company beat revenue estimates and lost slightly less money than Wall Street was expecting.

As a result, technology-based ETFs are just as scattered after today's opening bell.

The Technology Select Sector SPDR ( XLK) and the PowerShares QQQ ( QQQ) both inched 0.4% higher to land at new 12- month highs. The Global X Social Media ETF(SOCL) also hit a new high after a 0.3% gain.

Elsewhere in the ETF realm, the First Trust Cloud Computing ETF(SKYY) rose 0.15% and the First Trust Dow Jones Internet ETF ( FDN) climbed 0.6%. The iShares North American Tech-Software ( IGV), however, sat unchanged and the VanEck Vectors Semiconductor ETF ( SMH) fell 0.6%.

More at Barron's Focus on Funds blog, http://blogs.barrons.com/focusonfunds/


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04-28-170947ET
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