Market Minute: Microsoft, Google Miss Earnings Targets; GE Edges Higher

Microsoft and Google report huge profits, but not big enough. Those stocks and more are what's in business news Friday.

The Dow industrials (^DJI) gained 77 points Thursday and the S&P 500 (^GPSC) rose nearly 9, with both closing at record highs once again. The Nasdaq (^IXIC) edged 3 points higher.

Some of the air could come out of the tech sector following earnings from Microsoft and Google.

microsoft ceo steve ballmer earnings windows pc sales google ge stocks
Jeff Chiu/APMicrosoft CEO Steve Ballmer
Microsoft's posted a quarterly profit of nearly $5 billion, but it took a big write-off for its struggling tablet division. Earnings were also hurt by weakness in the PC market. This is the fourth straight quarter that Microsoft (MSFT) has missed Wall Street targets.

Google's net rose 16 percent to nearly $3.25 billion. But the results fell far short of expectations. Investors are concerned about the decline in the price of Web advertisements and the company's plan to increase capital spending. Google (GOOG) shares are up 28 percent this year, but likely to retreat today.

Shares of Advanced Micro Devices (AMD) are set to tumble even though the chipmaker topped expectations.

The other big report this morning comes from General Electric (GE). The company's net income inched slightly higher but revenue edged lower. GE is considered an economic bellwether because it's a leader in so many industries, from financial services to home appliances and jet engines.

More troubles for Boeing's (BA) Dreamliner. British officials blame a fire aboard a parked 787 last week on the battery that powers an emergency transmitter. It recommends that airlines disable that system. Separately, a Japan Airlines flight from Boston to Tokyo was forced to return to Logan International Airport on Thursday after a warning light came on in the cockpit.

CBS (CBS) could be ready to go to war with Time Warner Cable (TWC). The company threatens to withdraw some of its stations beginning next Wednesday in a fight over fees. The dispute could affect cable viewers in New York, Los Angeles and Dallas.

And Moody's has affirmed the U.S. government's Aaa rating, raising its outlook to "stable" from "negative," partly because of declining budget deficits.

-Produced by Drew Trachtenberg.

Apps That Manage Your Money For You
See Gallery
Market Minute: Microsoft, Google Miss Earnings Targets; GE Edges Higher

Mint made the Mac App Store's Best of 2012 list for a reason. This simple, clean app shows how much you are spending in each category of your budget by monitoring all of your transactions. We love signing in and getting a quick, dirty rundown of where our money has gone over the last week, and using their personalized budget tools to stay on track. We highly recommend adjusting your budgets for summer months. You might spend less on transportation when the weather is nice, and chances are you could use that extra cash to flesh out that restaurant tab, right?

Price: Free

Available for Apple and Android.

This is the all-in-one financial organizer. Manage all of your accounts, from credit cards to magazine subscriptions, in one place and even make custom accounts for your rent or cleaning service. Get reminders for bill payments, and monitor all of your travel reward points, too. You'll always know what you owe, how much money you have and can plan for upcoming bills and expenses without having to sift through tons of paperwork.

Price: Free

Available for Apple and Android devices.

If you want to isolate the expense tracker function of Mint in a super simple day-to-day app, then DailyCost is a great buy. A wide variety of categories lets users input all of their daily expenses. Holding your phone horizontally, you will be able to see graphs and statistics on your spending. The app also tracks your weekly and monthly spending by category and can be backed up to iCloud for Mac users, so you'll never lose your data.

Price: $1.99

Available for Apple only.

If you're a heavy traveler, Toshl is an excellent expense and budget tracker. It works with any currency and lets you separate your travel budget from your day-to-day expenses. It comes with all the trappings of a regular money management app, too, such as bill organizer and alerts, and can be synced across all your devices.

Price: Free

Available on Apple and Android devices.

Next time you organize a group activity, Tricount will split up the expenses for you. Create the expense report on your phone and organize by person, how much they owe, and then share via email so everyone knows their share. With options for expenses, balance, share, and configuration, the app does all of the math for you.

Price: Free

Available for Apple and Android devices.

Never miss a bill payment again. This app reminds you when your payments are due, and lets you pay on the spot from a bank account or credit card, or you can schedule a payment for the future. Connect all of your accounts to the encrypted app and then view them all in one place for easy access and payment options. You'll never overdraft or miss a payment again.

Price: Free

Available on Apple and Android devices.

Make and share payments with friends. This app uses the same technology to pay as LivingSocial, Uber and Airbnb. Pay with your debit card or transfer funds from a linked bank account, right to a friend's Venmo account. It is Verisign Certified.

Price: Free

Available on Apple and Android devices.

Read Full Story
  • DJI25719.45-243.06-0.94%
  • NIKKEI 22521627.3418.420.09%
    Hang Seng29113.3641.800.14%
  • USD (PER EUR)1.13-0.0076-0.67%
    USD (PER CHF)1.01-0.0027-0.27%
    JPY (PER USD)110.06-0.7820-0.71%
    GBP (PER USD)1.320.00630.48%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.