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Home >> Business
UPDATED: 12:32, October 22, 2005
US stocks end mixed as Google's profit sevenfold
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US stocks closed mixed Friday while Google led a broader rally on the market.

On the company news, web search company Google said its profit grew more than sevenfold to 381.2 million dollars as revenue nearly doubled from new services that drove traffic during the typically slow summer season. Google surged 36.70 dollars to 339. 90 dollars.

At a market capitalization of 100 billion , Google would be the fifth-largest technology company, ranking behind Microsoft, at more than 260 billion dollars, Intel, International Business Machines Corp. and Cisco.

Dow component Caterpillar posted a 34 percent rise in quarterly profit, but the construction equipment maker slashed its full-year outlook because of potential charges and a higher tax rate. Caterpillar dropped 5.11 dollars to 48.92 dollars.

Crude oil prices ended higher Friday while the Hurricane Wilma is on the way to US. New York's main contract, light sweet crude for delivery in December, rose 61 cents to 60.63 dollars per barrel in closing trades.

The blue-chip Dow Jones Industrial Average fell 65.88, or 0.64 percent, to 10,215.22. The broader stock indicators advanced. The Standard & Poor's 500 index added 1.79, or 0.15 percent, to 1,179. 59, and the Nasdaq composite index jumped 14.10, or 0.68 percent, to 2,082.21.

Advancing issues outpaced decliners by nearly 2 to 1 on the New York Stock Exchange, where volume of 1.46 billion shares led the 1. 43 billion shares traded at the same point Thursday.

For the week, the Dow fell 0.7 percent and the S&P 500 lost 0. 59 percent. The Nasdaq, however, rose 0.84 percent.

Source: Xinhua


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