US STOCKS-Wall St little changed as Microsoft offsets Amazon

viernes 24 de octubre de 2014 10:21 GYT
 

* Amazon tumbles, Microsoft climbs after earnings

* New home sales climb to six-year high

* Indexes: Dow up 0.04 pct, S&P off 0.03 pct, Nasdaq up 0.04 pct (Adds data, updates prices)

By Chuck Mikolajczak

NEW YORK, Oct 24 (Reuters) - U.S. stocks were little changed on Friday, as disappointing earnings from Amazon were offset by gains in Microsoft after its quarterly results.

Amazon plunged 7.3 percent to $290.45 as the biggest drag on both the S&P 500 and Nasdaq 100 after the online retailer's sales projections for the crucial holiday quarter disappointed Wall Street and third-quarter results missed forecasts.

But Microsoft, up 1.3 percent at $45.63, helped offset the drop in Amazon after it reported higher-than-expected quarterly revenue while keeping its profit margins largely intact.

Procter & Gamble gained 2.9 percent to $85.67 to also help boost the Dow and S&P 500 after the world's largest household products maker posted quarterly results and said it would split its Duracell battery business into a separate company.

The S&P 500 is up 3.5 percent for the week, putting the index on pace for its first weekly gain in five and best week since the start of 2013, powered largely by solid corporate earnings reports. The benchmark index is down 2.8 percent after slumping more than 7 percent from its record high on Sept. 18 while volatility has spiked.   Continuación...