Major US stock indices closed mixed, as Facebook (FB) and Microsoft (MSFT) went up after the companies published strong quarterly reports, supporting the Nasdaq index, while 3M (MMM) shares fell after publishing disappointing quarterly results / forecasts put pressure on the Dow.

The Facebook report (FB; + 6.3%) released the day before showed that the company's profit for the first quarter of the 2019 fiscal year reached $ 1.89 per share, which was higher than the average forecast of analysts at $ 1.61. Quarterly social network revenues amounted to $ 15.077 billion (+ 26.0% y / y), while the average forecast of analysts assumed $ 14.973 billion.

Microsoft (MSFT; + 3.6%) reported that in the first quarter they earned $ 1.14 per share, which was above the analysts' average forecast of $ 1.00. The quarterly tech-giant revenues were $ 30.571 billion (+ 14.0% y / y), while the average forecast of analysts assumed $ 29.860 billion.

3M (MMM; -13.06%) reported a profit of $ 2.23 per share, which was below the analysts' average forecast of $ 2.50. At the same time, its quarterly revenue amounted to $ 7.863 billion (-5.0% y / y), while the average forecast of analysts assumed $ 8.025 billion. The company also reported a decrease in the forecast earnings per share figure for the whole 2019.

The focus was also on data from the Department of Commerce, which showed that orders for durable goods in the United States increased in March. According to the report, orders for durable goods rose by 2.7% in March after falling by a revised 1.1% in February. Economists had expected durable goods orders to grow by 0.8% compared with the 1.6 percent reduction originally announced in the previous month. Excluding the sharp increase in orders for transportation equipment, orders for durable goods rose by 0.4% in March after a decrease of -0.2% in February.

Most of the components of DOW finished trading in positive territory (18 out of 30). Outsiders were 3M Company (MMM; -13.06%). The growth leader was Microsoft Corporation (MSFT; + 3.63%).

Most sectors of the S & P recorded a decline. The largest decline was in the industrial goods sector (-1.6%). The health sector grew the most (+ 1.2%).

At the time of closing:

Dow 26,461.95 -135.10 -0.51%

S & P 500 2,926.17 -1.08 -0.04%

Nasdaq 100 8,118.68 +16.67 +0.21%

U.S. stock-index futures traded mixed on Thursday as solid reports from Microsoft (MSFT) and Facebook (FB) helped lift the tech-heavy Nasdaq index, while a slump in shares of industrial conglomerate 3M Company (MMM) weighed on Dow futures.

Global Stocks:

(company / ticker / price / change ($/%) / volume)

Tesla (TSLA) downgraded to Neutral from Outperform at Wedbush; target lowered to $275

American Express (AXP) upgraded to Overweight from Equal-Weight at Morgan Stanley; target raised to $140

Facebook (FB) upgraded to Buy from Neutral at UBS; target raised to $240

Freeport-McMoRan (FCX) reported Q1 FY 2019 earnings of $0.05 per share (versus $0.46 in Q1 FY 2018), missing analysts’ consensus of $0.08.

The company’s quarterly revenues amounted to $3.792 bln (-22.1% y/y), generally in line with analysts’ consensus estimate of $3.765 bln.

FCX fell to $13.55 (-0.22%) in pre-market trading.

Yandex N.V. (YNDX) reported Q1 FY 2019 earnings of RUB16.35 per share (versus RUB11.96 in Q1 FY 2018), missing analysts’ consensus of RUB16.70.

The company’s quarterly revenues amounted to RUB37.284 bln (+40.3% y/y), beating analysts’ consensus estimate of RUB36.032 bln.

YNDX rose to $38.37 (+1.99%) in pre-market trading.

Int'l Paper (IP) reported Q1 FY 2019 earnings of $1.11 per share (versus $0.94 in Q1 FY 2018), beating analysts’ consensus of $0.93.

The company’s quarterly revenues amounted to $5.643 bln (+0.4% y/y), missing analysts’ consensus estimate of $5.735 bln.

IP rose to $46.33 (+4.61%) in pre-market trading.

Altria (MO) reported Q1 FY 2019 earnings of $0.90 per share (versus $0.95 in Q1 FY 2018), missing analysts’ consensus of $0.93.

The company’s quarterly revenues amounted to $4.389 bln (-6.0% y/y), missing analysts’ consensus estimate of $4.600 bln.

The company also issued in-line guidance for FY 2019, projecting EPS of $4.15-4.27 versus analysts’ consensus estimate of $4.22.

MO fell to $52.26 (-4.48%) in pre-market trading

3M (MMM) reported Q1 FY 2019 earnings of $2.23 per share (versus $2.50 in Q1 FY 2018), missing analysts’ consensus of $2.50.

The company’s quarterly revenues amounted to $7.863 bln (-5.0% y/y), missing analysts’ consensus estimate of $8.025 bln.

The company also issued downside guidance for FY 2019, projecting EPS of $9.25-9.75 versus its prior guidance of $10.45-10.90 and analysts’ consensus estimate of $10.52.

MMM fell to $202.31 (-7.65%) in pre-market trading.

Visa (V) reported Q1 FY 2019 earnings of $1.31 per share (versus $1.11 in Q1 FY 2018), beating analysts’ consensus of $1.24.

The company’s quarterly revenues amounted to $5.494 bln (+8.3% y/y), generally in line with analysts’ consensus estimate of $5.462 bln.

V rose to $162.17 (+0.42%) in pre-market trading.

Tesla (TSLA) reported Q1 FY 2019 losses of $2.90 per share (versus -$3.35 in Q1 FY 2018), $1.93 worse than analysts’ consensus of -$0.97.

The company’s quarterly revenues amounted to $4.542 bln (+33.2% y/y), missing analysts’ consensus estimate of $5.177 bln.

TSLA fell to $255.50 (-1.22%) in pre-market trading.

Microsoft (MSFT) reported Q1 FY 2019 earnings of $1.14 per share (versus $0.95 in Q1 FY 2018), beating analysts’ consensus of $1.00.

The company’s quarterly revenues amounted to $30.571 bln (+14.0% y/y), beating analysts’ consensus estimate of $29.860 bln.

MSFT rose to $131.30 (+5.03%) in pre-market trading.

Facebook (FB) reported Q1 FY 2019 earnings of $1.89 per share (versus $1.69 in Q1 FY 2018), beating analysts’ consensus of $1.61.

The company’s quarterly revenues amounted to $15.077 bln (+26.0% y/y), generally in line with analysts’ consensus estimate of $14.973 bln.

FB rose $199.29 (+9.15%) in pre-market trading.