Most markets finished positive today with small gains. The Nasdaq 100 cannot make that claim though as earnings misses from some notable Nasdaq 100 names held the index down all day. The Nasdaq 100 ended up lower by 39 points (-0.80%), the S&P 500 was flat, and the Dow 30 closed up 21 (0.12%).
Alphabet (GOOGL ) suffered a 5.41% decline today after the tech giant reported earnings that missed expectations after the bell yesterday. Alphabet's category called "other bets," which includes projects like Google X and its self-driving car unit, posted an operating loss of $802 million.
Starbucks (SBUX ) lost 4.86% today and closed near the lows of the day with much higher than average volume. The coffee chain reported fiscal second-quarter revenue that missed estimates and offered third-quarter guidance that came in on the low end. Starbucks reported earnings per share of $0.39 on revenue of $4.99 billion and said it expects earnings of $0.48 to $0.49 per share for the current quarter. Analysts had expected earnings of $0.49.
Microsoft (MSFT ) sold off 7.17% today after the company's quarterly earnings missed expectations while its revenue came in line with Wall Street estimates. Microsoft reported earnings per share of $0.62 on revenue of $22.08 billion.
Other notable names that reported earnings but didn't get as much media attention:
Caterpillar (CAT ) lost only 0.43% today, closing well off its lows of the day. The company reported first-quarter earnings per share of $0.67, missing Wall street expectations by a penny, on revenue of $9.46 billion. Caterpillar also lowered its full-year outlook, cutting its adjusted earnings forecast to $3.70 from $4.00 and its revenue outlook to $40 billion from $42 billion.
Honeywell lost 0.65% today despite topping earnings estimates and raised its guidance for 2016. Honeywell posted earnings per share of $1.53, versus $1.41 per share one year ago.