Microsoft & Yahoo
Microsoft and Yahoo are reshaping their search partnership. The new agreement allows more flexibility in how the results are presented and how ads are managed. Shares of Microsoft fell a fraction to $42.16. Yahoo rose a nickel to $45.78.
BlackRock saw its earnings rise as the investment firm said cash flows were strong across all asset classes during the quarter. Revenue did fall short of estimates though because of weaker fees tied to the stronger dollar. Shares were off one percent to $372.18.
Philip Morris posted a beat on both the top and bottom lines, sending the stock to multi-year highs. The seller of Marlboro and other cigarette brands did see its profits fall from last year as it was pressured by a stronger dollar. Still, the stock popped almost nine percent to $84.96.
Mattel’s loss widened in the first quarter as the toy maker recorded higher costs. A stronger dollar also weighed on its sales. The company has been trying to revamp as sales for some of its toys, like the iconic barbie doll, have slowed. Shares were volatile in after-hours trading. The stock was off slightly to $25.27 during the regular session.