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Microsoft leads the Dow higher on earnings gain

Published October 28, 2013 10:04 am

This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

New York • Earnings gains from Microsoft and other big U.S. companies are pushing the stock market higher in early trading.

Microsoft led the Dow Jones industrial average higher after reporting higher sales of tablet computers and progress in a corporate overhaul.

The Dow was up 32 points, or 0.2 percent, at 15,540 shortly after trading began Friday.

The Standard & Poor's 500 index was up four points, or 0.3 percent, at 1,756. The Nasdaq composite rose 27 points, or 0.7 percent, to 3,957.

Technology stocks led the market higher.

Amazon.com jumped $34.86, or 10 percent, to $366.90 after reporting a narrower loss and 24 percent higher revenue. Microsoft rose $2.36, or 7 percent, to $36.09.

Newell Rubbermaid rose 65 cents, or 2 percent, at $29.55 after its earnings beat analysts' forecasts.