Apple stock surges after earnings report

Dow Jones futures and other major stock indexes extended their rallies in Friday premarket trading after the U.S. Labor Department’s weaker-than-expected April jobs report. Among the risers was Apple stock, which enjoyed a surge fueled by a record $110 billion share repurchase plan.
Scott Lehtonen for Investor’s Business Daily:
‎

The Labor Department’s April jobs report said the U.S. economy added 175,000 jobs for the month, much less than the expected 243,000 number, according to Econoday estimates. That was also down from March’s 303,000 addition. The unemployment rate ticked higher to 3.9%; It was expected to hold steady at 3.8%.
Late Thursday, Apple narrowly beat Wall Street’s estimates for its fiscal second quarter. The iPhone maker also raised its quarterly dividend and stock buyback plan. Apple stock rallied more than 6% in premarket trading.

Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
‎
MacDailyNews Take: Apple’s share price is now roughly $15 below its all-time high.
‎
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
The post Apple stock surges after earnings report appeared first on MacDailyNews.