U.S. stocks mixed amid postive GDP data and disappointing Apple earnings

0 Comment(s)Print E-mail Xinhua, October 26, 2012
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U.S. stocks opened mixed Friday amid Apple and Amazon's disappointing earnings and positive GDP number.

The Commerce Department said on Friday that the U.S. economic growth expanded at a 2.0 percent annual rate, beating expectations.

However, Apple and Amazon posted weaker-than-expectation earnings after the closing bell on Thursday, and investors felt less confident about companies' profits in the year 2012.

Apple's fiscal 2012 fourth quarter revenue grew 24 percent to 36 billion dollars, meeting expectations. But its earnings per share hit 8.75 dollars, lower than expected.

Amazon.com Inc., the world's largest online retailer, posted the first quarterly net loss since 2003, hurt by higher costs.

Shortly after the opening bell, the Dow Jones industrial average rose 1.54 points, or 0.00 percent, at 13,104.22. The Standard & Poor's 500 was down 0.80 points, or 0.06 percent, to 1,412.03. The Nasdaq Composite Index declined 2.12 points, or 0.07 percent, to 2,983.75. Endi

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