U.S. equities were mixed Tuesday, May 1, as the Dow Jones Industrial Average dropped by 64 points to 24,099.05, while the Nasdaq and the S&P 500 rose by 0.9% and 0.3%, respectively. Investors, however, should expect more volatility in May, according to Helene Meisler, a contributor to TheStreet's sister publication, Real Money.
Apple Inc. (AAPL) stock soared in extended-hours trading after reporting top- and bottom-line beats for the fiscal second quarter. The technology giant posted earnings of $2.73 per share, which topped analysts' expectations of $2.69. Revenue rose 16% year over year to $61.1 billion. Apple also announced a new $100 billion share buyback and raised the dividend by 16%.
After Apple's stellar results, investors will be focused on Tesla Inc. (TSLA) , which is set to report quarterly results after the bell on Wednesday. The company, which has struggled to meet production targets, is burning through cash and if it lands in bankruptcy, customers could lose every penny they spent on deposits for products. Tesla is expected to report a loss of $3.54 per share on revenue of $3.28 billion.
While deal news wasn't as frenzied as it was on Monday, Boeing Co. (BA) still announced a $4 billion acquisition and Hain Celestial founder and CEO Irwin Simon told Ron Orol that the maker of Terra Chips could be sold down the road because "we're probably not the best guys to take it to the next level."
Meanwhile, Goldman Sachs Group Inc. (GS) shareholders are preparing to ratify directors at the Wall Street firm's annual meeting on Wednesday, but TheStreet's Brad Keoun finds that Goldman's board remains an old boys' club even as rivals are promoting women to the boardroom. Women make up just 18% of Goldman's board, compared to 42% at Wells Fargo & Co. (WFC) .
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Photo of the day: Still fighting for a seat in the boardroom
The International Congress of Women in 1915 adopted resolutions calling for international cooperation to end World War I and promote women's suffrage while gathered in The Hague, Netherlands. The congress included more than 1,200 delegates from 12 countries, including the delegation from the U.S. pictured above. Though the war is long over and women have the right to vote in the U.S. and abroad, women are still fighting for a seat in the corporate boardroom -- and they aren't fighting alone this time. Top money managers are pushing to get more women on boards of directors. State Street Corp. (STT) Chief Operating Officer Ronald O'Hanley said that in many cases the firm will vote for shareholder proposals seeking to increase gender diversity on a board. Read more
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