McDonald's, GE, Microsoft: Dow Midday Movers
The Dow rose 108.91 points to 13,073.01.
Shares of Microsoft rose 5.71% to $32.78. The software company reported Thursday fiscal third-quarter earnings of $5.11 billion, or 60 cents a share, down from year-earlier earnings of $5.23 billion, or 61 cents a share. The company's third-quarter earnings topped analysts' estimates of 57 cents a share.
Microsoft was also the top gainer in the S&P 500 Friday morning.TheStreet Ratings gives Microsoft an A grade with a buy rating and $35.78 price target. McDonald's shares increased 2.17% to $97.35. The fast-food chain's earnings were in line with analysts' expectations. McDonald's posted first-quarter earnings of $1.27 billion, or $1.23 a share, on revenue of $6.55 billion. Year-earlier earnings were $1.2 billion, or $1.15 a share, on revenue of $6.11 billion. TheStreet Ratings gives McDonald's an A grade with a buy rating and $128.16 price target. Shares of General Electric gained 1.83% to $19.49. The multinational company beat analysts' earnings estimates by a penny with earnings of $3.6 billion, or 34 cents a share. Profit rose year-earlier earnings of $2.3 billion, or 21 cents a share. Analysts expected earnings of 33 cents a share. TheStreet Ratings gives General Electric a B grade with a buy rating and $22.29 price target. The biggest decliner in the index midday Friday was Bank of America (BAC). Shares fell 2.45% to $8.56. CLSA analyst Mike Mayo slapped a sell rating on the stock following Bank of America's first-quarter earnings earlier this week. Mayo thinks the bank's earnings power is declining. TheStreet Ratings gives Bank of America a C- grade and hold rating. -- Written by Alexandra Zendrian
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