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U.S. stocks open mixed amid earnings reports

Xinhua, April 22, 2016 Adjust font size:

U.S. stocks opened mixed Friday as investors assessed an array of quarterly earnings reports from notable companies.

After Thursday's closing bell, Alphabet, Google's parent company, reported first quarter 2016 earnings of 4.21 billion U.S. dollars on revenues of 20.26 billion dollars, compared with earnings of 3.52 billion dollars on revenues of 17.26 billion dollars a year ago.

Alphabet Class A, however, tumbled over 4 percent in early trading Friday as both the earnings and revenues missed market estimates.

Shares of Microsoft plunged about 7 percent in early trading Friday after the tech giant reported quarterly results that were also well below market consensus.

Shares of McDonald's rose nearly 1 percent in early trading Friday following the release of the world's biggest restaurant chain's better-than-expected quarterly results.

Shortly after the opening bell, the Dow Jones Industrial Average edged up 11.02 points, or 0.06 percent, to 17,993.54. The S&P 500 fell 2.34 points, or 0.11 percent, to 2,089.14. The Nasdaq Composite Index lost 38.28 points, or 0.77 percent, to 4,907.60.

On Thursday, U.S. stocks ended lower after wavering in a tight range as Wall Street digested jobs data and quarterly earnings. Endi