Dow finishes above 27,000 for first time as blue-chip index, S&P 500 post record close
Stocks ended mostly higher Thursday, with the Dow Jones Industrial Average DJIA, +0.85% and the S&P 500 SPX, +0.23% each posting a record close after Federal Reserve Chairman Jerome Powell boosted investor expectations for a rate cut at the end of the month. The Nasdaq Composite COMP, -0.08% which posted a record close Wednesday, took a breather to finish around 6 points lower near 8,196, according to preliminary figures, a 0.1% decline. The Dow advanced around 228 points, or 0.8%, to finish near 27,088, while the S&P 500 rose nearly 7 basis points to end just shy of the 3,000 mark.
Illumina stock plunges more than 14% after genetics company lowers guidance
Illumina Inc. ILMN, -2.43% shares plunged more than 14% in the extended session Thursday after the company reported preliminary revenue for the fiscal second quarter and updated its 2019 revenue guidance. The company said it expects second-quarter revenue of $835 million, versus $830 million in the year-ago period. Illumina said that it expects roughly $50 million lower revenue due to issues with its population genomics initiatives, weakness in the direct-to-consumer market and lower sales associated with its non-high-throughput sequencing systems and consumables. "We are obviously disappointed with our second quarter financial results. Our preliminary analysis suggests that these challenges are transitory and do not reflect a macro change to the fundamentals of our business," Chief Executive Francis deSouza said in a statement. Analysts polled by FactSet had expected second quarter sales of $888.3 million. Illumina stock has gained 23% in the past year, as the S&P 500 index SPX, +0.23% gained 7.9%.
Shares of Twitter fall as the micro-blogging site experiences an unexplained outage
Social-media site Twitter Inc. TWTR, -0.69% was down Thursday afternoon, and its shares also were sliding. Users attempting to access the platform were receiving a message saying that "something is technically wrong." A spokesperson for Twitter confirmed the outage but didn’t provide further details. "We are currently investigating issues people are having accessing Twitter. We’ll keep you updated on what’s happening here," the spokesperson said. Shares of Twitter were down 0.8% on Thursday while the broader market was mostly rising, with the Dow Jones Industrial Average DJIA, +0.85% on track to close at a record and the S&P 500 index SPX, +0.23% set to also close near all-time highs. The technology sector, however, was showing some signs of weakness, with the Nasdaq Composite Index COMP, -0.08% down 0.1% at 8,195, lagging behind its peer equity benchmarks.
Global PC demand rises 1.5% pushed by Windows 10 refresh
Global PC demand grew in the second quarter of 2019, reversing two quarters of declines, according to research firm Gartner late Thursday. Worldwide sales of PCs rose 1.5% to just under 63 million units in the second quarter as businesses refreshed computers because of demand for Microsoft Corp.’s MSFT, +0.40% Windows 10 operating system. "Additionally, there are signs that the Intel INTC, +0.81% CPU shortage is easing, which has been an ongoing impact to the market for the past 18 months," said Mikako Kitagawa, senior principal analyst at Gartner, in a statement. Market share was 25% for Lenovo Group Ltd. 992, +0.64% 22.2% for HP Inc. HPQ, +1.26% 16.9% for Dell Technologies Inc. DELL, +2.28% and 5.9% for Apple Inc. AAPL, -0.73% Gartner said.
Accenture names new CEO
Accenture Plc. ACN, +1.54% said late Thursday its board of directors has named Julie Sweet the company’s new chief executive officer, and that David Rowland, interim chief executive officer, has been appointed executive chairman. Marge Magner, Accenture’s non-executive chair of the board, will resume her role as lead independent director, Accenture said. The changes are effective Sept. 1. Sweet currently serves as chief executive officer of the consultancy’s North America business, the company’s largest geographic market with revenues of about $18 billion. Sweet also served as Accenture’s general counsel, secretary and chief compliance officer. Shares of Accenture were flat in the extended session after ending the regular trading day up 1.5%.
Twitter is coming back after worldwide outage
If you're trying to use Twitter right now, this is the fail screen you're probably seeing. (Photo: Twitter)
Twitter is starting to come back after experiencing an outage Thursday that knocked out the service across websites and phones. The disruption appears to extend beyond the U.S. to at least parts of Europe as well as in Japan and other parts of Asia.
Twitter said the outage was due to an “internal configuration change.” ” Some people may be able to access Twitter again and we’re working to make sure Twitter is available to everyone as quickly as possible.”
The update came an hour after the status page indicated the social media platform was having issues.
After getting the “nothing to see here” screen on their phones, many are starting to respond with GIFs of relief using the hashtag #TwitterDown.
The Down Detector outage reporting site says the outage began at 2:46PM ET time; the number of reports at the site has grown to around 70,000.
Though Twitter itself was down, people went elsewhere on social media to weigh in. At Down Detector, a user iDisOrder wrote, “REMAIN CALM ~ PUT DOWN YOUR DEVICES AND INTERACT WITH YOUR NEIGHBOR!”
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