As earnings season continues on, the unfolding story is one of a mixed bag, as companies in the same industry perform well while others report a weak quarter.
For example, Morgan Stanley (MS) had a strong quarter while American Express (AXP) struggled. Morgan Stanley performed well because a number of companies sought its assistance with mergers, as well as to help them raise capital.
For American Express, cost-cutting measures and reorganization were the probably culprits for its poor performance, where it had to take significant charges. Even so, revenue also failed to meet expectations, causing investors to punish them after the weak report.
Another financial, Capital One (COF), got hammered after it failed to meet revenue and earnings estimates, falling by almost 8 percent, losing $4.74. The company also significantly lowered its outlook going forward.
Intel continues to flounder as it looks for ways to combat the quick abandonment of desktop and laptop computers for tablets and smartphones. As a result, the net income of the company in the latest quarter plummeted 27 percent.
For General Electric, it reported solid earnings for the quarter, with all of its industrial units boosting profits. That was led by a growing number of orders from developing nations.
