Following the path of other large investments giants, Bank of America(BAC) released its quarterly results this morning. Profit increased 70% from last year to an impressive $3.6 billion. The company's stock rose over 3% during midmorning trading, adding to the 75% it has risen this year. It helped pull up the Dow 0.12% at the end of the trading day.
Intel(INTC) also reported disappointing profits today, with profits dropping over 20% in the second quarter. This number was just shy of the average analyst expectation on Wall Street. The company has been struggling to increase revenue as rival companies gain momentum in a shrinking global PC market. With Apple and Samsung products expanding into both companies and schools, Intel has seen its sales slump along with other major players in the industry. Its stock dropped 4% in after-market hours.
Electronics accessories maker Zagg(ZAGG) fell almost 20% due to the company lowering its second quarter earnings expectations that came in over 10% below previous reports.
DuPont(DD) rose 5% today, making it the largest gainer on the Dow. Reports were released that Trian Fund Management's Nelson Peltz increased his holdings in the company, sending the shares sky-rocketing.
American Express(AXP) beat analyst expectations on earnings, but missed on revenue. This raised concerns about the company's growth rate, sending the shares down 2%.
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