Senate Passes Budget, Ericsson Soars, Skechers Kills It Overseas

Jane King Has Friday's Top Stories:

Senate Passes Budget:

The passage of a budget in the U.S. Senate will allow the GOP to use a procedural maneuver to pass tax legislation through the Senate with 50 or more votes, removing the need for support from Democratic Senators. President Trump is tweeting about the deal, saying it will lead to the biggest tax cuts and reform in the history of the United States.

GE Beat Revenue Expectations:

General Electric (GE) - Get Report  beat revenue expectations but fell short in earnings.

Sketchers Sales Are Booming Overseas:

Skechers (SKX) - Get Report  international business is booming. Sales overseas were up 26% and that allowed it to beat earnings expectations.

Ericsson Shares Soar:

Ericsson shares are also rising on better margins in its networks unit. The Swedish telecom company, however, did report a larger than expected 3rd quarter operating loss. The company says it expects to deliver double digit margin growth in the 4th quarter.

Watch More with TheStreet:

• Target CEO: This Is How We Will Beat Walmart
• Check Out the 6 Newest Google Products
• 50,000 Sandwiches and 4 Other Ways Cities Are Trying to Woo Amazon
• Billionaire David Rubenstein on His Biggest Worry for the Economy