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Major Movers on July 19; GE, GOOG, MSFT, AMD, CMG, WHR

Shares of General Electric Company (NYSE: GE) climbed about 4.60% by afternoon trade. The diversified technology solutions provider’s revenue and non-GAAP earnings slipped in the fiscal second quarter from the year earlier period; however, adjusted earnings beat Wall Street’s expectation. The company said that faster-than-expected shrinkage in its GE Finance unit hurt its revenue. For the fiscal second profit, GE posted a profit of $3.13 a share or 30 cents a share compared to net income of $3.11 billion or 20 cents a share. On adjusted basis, the company earned 36 cents down from 38 cents a share, in the year-earlier quarter but a penny higher than Wall Street’s estimate. Revenue fell 3.5% to $35.12 billion, falling short of analysts’ forecast of $35.56 billion. Shares of Google Inc. (NASDAQ: GOOG) fell about 1.70% by afternoon trade : The search engine giant handed disappointing quarterly results, late last evening. For the fiscal second quarter, Google posted earnings of $9.56 a share on revenue of $14.11 billion, missing analysts’ forecast for earnings of $10.78 a share on revenue of $14.41 billion. Shares of Microsoft Corp. (NASDAQ: MSFT) tumbled about 11.20% by afternoon trade. After the closing bell on Wednesday, the software giant posted earnings of 66 cents a share on revenue of $19.90 billion, for the fiscal fourth quarter. Analysts’ consensus forecast was for earnings of 75 cents a share on revenue of $20.73 billion. Shares of Advanced Micro Devices Inc. (NYSE: AMD) tumbled about 14.85% by afternoon trade. The semiconductor maker, late last evening said that it swung into fiscal second quarter loss. Falling gross margins and declining sales trend in global PC market dented the company’s bottom line. For the fiscal second quarter, the Company posted a net loss of $74 million or 10 cents a share compared to a net income of $37 million or 5 cents a share, in the same period of last year. Excluding onetime items, adjusted loss stood at 9 cents a share down from a profit of 6 cents a share, in the year-earlier quarter. Revenue plunged 18% to $1.16 billion from $1.41 billion. Analysts’ consensus forecast was for a loss of 13 cents a share on revenue of $1.11 billion. Gross margin narrowed to 40% from 45% in the year earlier quarter. Shares of Chipotle Mexican Grill Inc. (NYSE: CMG) rallied about 7.75% by afternoon trade. The burrito and taco restaurant chain, late last evening, said that fiscal second quarter net income increased 8%, driven by higher comparable-store-sales and opening up of new stores. Both adjusted earnings and revenue topped Wall Street’s expectations while the outlook of full-year was also lifted. Comparable-restaurant-sales rose 5.5% in the fiscal second quarter as customer traffic grew. One extra business day compared to the same quarter of last fiscal also helped driving up comparable sales. Shares of Whirlpool Corp. (NYSE: WHR) rallied about 7.90% by afternoon trade after the world’s largest home appliance maker raised its full-year earnings guidance, citing improvement in productivity and rising demand in both Europe and the U.S.

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