US Stocks On The Rise With Herbalife And Chipotle Making Highest Gains
The US stock market finished up with higher than expected results and second-quarter earnings reports painted a picture of success among many companies.
S&P 500, Dow Jones, and NASDAQ all reported gains, with the lowest coming from the Industrial Average at +0.36%.
Chipotle boosted the S&P 500’s numbers by closing in on its record July 3 performance, while McDonald’s fell 1.3% after earnings came in below expectations.
The Mexican grill chain saw a 12% increase on stocks and was reported to be the largest gain S&P 500 index.
Despite Bill Ackman’s forecasted collapse of Herbalife, the activist investor saw his prediction shot out of the sky when the company gained an astounding 23%, resulting in the biggest 1-day percentage gain.
Conversely, Apple reported a sharp dip in iPad sales, which weighed down shares in the face of high quarterly results following in the wake of strong iPhone sales. The company also recently received a patent for iTime, a wearable smartwatch.
In other tech, Microsoft reported a 7.1% decrease in quarterly profit, falling short of predictions and disappointing forecasters.
The contrast was reasoned out to be the result of the company’s recent purchase of Nokia Corp’s cellular phone unit.