April 23, 2008 at 2:00 pm by Tom Lydon
Two highly anticipated earnings reports came out after the market close, and the good news could lift related exchange traded funds (ETFs).
First, Amazon.com (AMZN) came out with its numbers. The web retailer says its first-quarter profit rose 29%, beating expectations on Wall Street. The numbers were helped by overseas sales, reports the Associated Press. The numbers are up 31% from one year ago.
Apple (AAPL) also blasted through expectations with its numbers, announcing earnings of $1.16 a share, reports CNBC. Analysts had been expecting $1.07 a share. The stock was trading nearly 4% higher in after-hours tradings.
This news follows Yahoo’s (YHOO) positive numbers from yesterday, and Google’s (GOOG) strong earnings report from last week. Microsoft (MSFT) is going to report its earnings tomorrow after the closing bell.
The technology sector could be something to watch tomorrow.
Amazon and Apple are major components of several ETFs, including:
- Retail HOLDRs (RTH): Amazon is 5%; up 1% year-to-date
- Internet HOLDRs (HHH): Amazon is 21.7%; down 3% year-to-date
- Technology Select Sector SPDR (XLK): Apple is 5%, down 10.5% year-to-date
- iShares Dow Jones US Technology (IYW): Apple is 6.6%, down 10.3% year-to-date
Tags | Green ETFs, Retail & Consumer, Technology
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