US markets cheer reports

US markets warmed to strong profit results from major coporations today.

Although Boeing reported a profit fall of 84% on last year, due to closure of its 717 programme, this still created above expectation net profits of $186m. The defence arm was especially credited with good performance. And with the Boeing 7E7 due for ceremony in April, 2005 and 2006 are ones the company is confident of strong returns in.

Additionally, Rupert Murdoch’s News Corp reported an 80% increase in Q4 profits to $386m (£205m), with film and DVD sales being particular earners for the company. And these are areas expected to see further growth in 2005.

Google reported profits of over $204.1m for Q4, which again exceeded market expectations, resulting in a stock price’s rise that at one point peaked at $216.80 per share.

Amazon was the only large trader to disappoint. Although a tax credit swelled their Q4 earnings to $346.7m, the site of overall revenues climbing but with little return on net profits left shareholders feeling shunned in lieu of consumers, and devalued the company by over 13%.