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Published on Apr 20, 2012
The major U.S. equity indices closed mixed Friday after a two day losing spell. The markets overall were in positive territory for the week on mixed corporate earnings and concerns over the Eurozone
Big news in the corporate world as earnings season continues. Dow component General Electric shares rose 1.4% on the day after their positive earnings release. GE posted first quarter EPS of $0.34 on revenues of $35.2 billion dollars, beating analyst estimates.
But not every company had good news today. Apple (NASDAQ:AAPL) falling over 2 and a half percent, bringing the Nasdaq down into negative territory. The tech company is experiencing what analysts call a technical correction, losing more than 10% off its record high of $644 on April 10th.
Finally, merger talks with US Airways, AMR Corp. unions, and American Airlines are shaking up the transportation sector today. AMR Corporation is in the middle of its chapter 11 bankruptcy case and unions are trying to force a merger between the company and US Airways. The merger could save up to 6,200 jobs at American Airlines. So far though, a merger does not seem likely
Now taking a look at where the markets closed today...
The Dow Jones Industrial Average (DJI) closed 0.50% higher at 13,029.26, the S&P500 (S&P 500 INDEX,RTH) closed 0.12% higher at 1,378.53, and the Nasdaq Composite (IXIC) closed 0.24% lower at 3,000.45.