U.S. Stocks Open Higher as China Cuts Interest Rates Again

U.S. stocks opened sharply higher Friday as China surprises the world and slashes interest rates. The People's Bank of China cut rates for the 6th time since November. It also lowered its reserve ratio to encourage banks to lend money. Several analysts are weighing in on Microsoft (MSFT) after its earnings report. Most are raising price targets for the stock as the company was positive on Windows 10. Royal Caribbean (RCL) beat earnings estimates and will also buy back stock. Lexmark (LXK) says it is exploring strategic alternatives as it looks to enhance shareholder value. Procter & Gamble (PG) remains squarely in a transformation. Sales at the consumer giant fell in the recent quarter. It says beauty, health, and family care all saw a drop. P&G is in the process of exiting close to 100 brands so it can better focus on 65 core brands, such as Tide and Pampers. American Airlines (AAL) beat profit estimates on lower fuel prices.