"Even though at first glance, JPMorgan and Wells Fargo basically had good numbers -- as did Google -- once you kind of start probing deeper you find some bits for concern," said Doug Roberts, chief investment strategist, ChannelCapitalResearch.com, who cited the oversize impact of a few individual traders on JPMorgan's bottom line and that the bank is "taking a higher risk profile than previously."
Google, the Internet search giant, posted strong quarterly earnings and announced a convoluted two-for-one stock split after Thursday's closing bell. The stock wasn't getting a benefit from the performance though, falling 4% to $624.60 as its average cost-per-click fell on both a year-over-year and sequential basis.
Infosys Technologies (INFY), the Indian software services company, said fourth-quarter profit rose 15.2% in dollar terms and sales jumped 10.5%, but revenue for fiscal 2013 would rise only 8% to 10%, below forecasts for the industry. The stock tumbled more than 14%.
Dow Chemical (DOW) raised its second-quarter dividend by 28% to 32 cents a share from 25 cents. The dividend will be paid on July 30. Shares rose 1.6% to $33.20.Coinstar (CSTR), whose businesses include the Redbox DVD rental kiosks, provided a first-quarter outlook above analysts' estimates. Coinstar said it sees core earnings from continuing operations of $1.36 to $1.40 a share on revenue of $567 million to $569.2 million for the three months ended March 31. Analysts are calling for profit of 90 cents a share on revenue of $537.7 million. Coinstar attributed the forecast, in part, to strong DVD demand from consumers in February and March. The stock gained 7% to close at $65.78. -- Written by Andrea Tse and Michael Baron in New York.
>To contact the writer of this article, click here: Andrea Tse.