NEW YORK (
U.S. stocks finished Friday higher after investors looked past a tepid GDP report to focus on what's shaping up to be a decent earnings season.
Dow Jones Industrial Average rose 23.62 points, or 0.18% to 13,228.24. The
S&P 500 increased 3.38 points to 1,403.36 and the
Nasdaq Composite gained 18.59 points to 3,069.20.
Breadth within the Dow was positive with 19 of the index's 30 components posting gains.
The biggest percentage gainers among the blue chips were
(CSCO - Get Report) and
(MCD - Get Report).
Shares of Cisco rose 1.94% to $19.98.
gives Cisco a B grade with a buy rating and
McDonald's shares increased 1.62% to $97.38. The fast food chain gets an A grade with a buy rating and
The biggest decliner in the Dow was
Procter & Gamble
(PG - Get Report)
. Shares dropped 3.63% to $64.44.
P&G reported quarterly earnings Friday of $2.4 billion, or 82 cents a share, down from year-earlier earnings of $2.9 billion, or 96 cents. The latest quarter included 13 cents a share in
charges related to restructuring
. Analysts, on average, expected earnings of 93 cents a share.
The consumer products giant lowered its
to a range of between $3.82 and $3.88 a share from a range of $3.93 to $4.03 a share. The current consensus view is for the company to report a profit of $3.96 a share for the year.
gives Procter & Gamble an A- grade with a buy rating and
Written by Alexandra Zendrian in New York
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