Tech Stocks Rally as Earnings Beat Expectations Despite Challenges
-
U.S. equities extended rally midday as tech stocks gained and Treasury yields fell after earnings amid Fed optimism. Gen Digital shares rose on more customers.
-
NXP Semiconductors shares climbed after analog chipmaker beat expectations on auto chip demand. Other semiconductor stocks also gained.
-
Homebuilder D.R. Horton shares advanced after profit and sales beat estimates. Housing market seen as potentially resilient.
-
Air Products shares sank as industrial gas producer missed revenue estimates due to lower supplier costs.
-
Emerson Electric shares dipped after profit and sales fell short on supply chain issues.