Stocks Opened Mostly Higher on Tech Earnings

U.S. stocks opened mostly higher on Friday as strong results from tech behemoths Google Inc, Amazon.com Inc and Microsoft Corp put the Nasdaq Composite on track to extend its ascent. The Dow Jones Industrial Average lately slipped 15.99 points, or 0.09%, to 18,042.70. The S&P 500 gained 3.08 points, or 0.15%, to 2,116.01. The Nasdaq Composite rose 35.50 points, or 0.70%, to 5,091.56.

Confidence among German companies improved in April to its highest level in nearly a year, a closely watched business survey showed, extending a strong start to 2015 for Europe’s biggest economy.

Comcast Corp (CMCSA.O) and Time Warner Cable Inc (TWC.N) said on Friday they had abandoned their proposed $45 billion merger after U.S. regulators said the deal would give Comcast an unfair advantage in the Internet-based services market.

Apple Inc aims to ship at least 20 million Apple Watches this year, well above many analysts’ forecasts, according to supply chain sources.

Xerox Corp. (XRX) lowered its earnings outlook for the year on Friday amid strengthening currency headwinds and softer signings, while also offering a weak outlook for its current quarter. For the year, Xerox now expects adjusted earnings of 95 cents to $1.01 a share, down from its previous forecast for $1 to $1.06 a share. It expects revenue, stripping out currency fluctuations, to fall 1%,

Biogen Inc. (BIIB) said Friday it had net income of $822.5 million, or $3.49 a share, in the first quarter, up from $479.9 million, or $2.02 a share, in the year-earlier period. Adjusted per-share earnings came to $3.82, below the FactSet consensus of $3.92. Revenue rose to $2.55 billion from $2.13 billion.

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