Stocks end week with gains; GE rises, Intel falls

Published on NewsOK Modified: January 18, 2013 at 5:08 pm •  Published: January 18, 2013
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Norwegian Cruise Line soared 30 percent in its first day of trading, the top performance of the three companies making their public debut on Friday. Five companies raised a total of $1.8 billion through initial public offerings this week, making it the best week for IPOs since early October, according to the data provider Ipreo.

American Express fell 96 cents to $59.78. Hefty charges tied to the credit card issuer's plan to cut jobs and reorganize some business lines hurt results, and revenue fell short of estimates.

Analysts forecast that companies in the S&P 500 will report a 4 percent increase in fourth-quarter earnings over the same period the year before, according to a report out Friday from S&P Capital IQ. They say banks and other financial firms should have the strongest profit growth of any industry. Technology companies like Intel are expected to struggle.

Among other companies in the news:

— Capital One lost 7 percent after reporting revenue and earnings that fell short of analysts' estimates. The bank and credit-card company also lowered its forecast for revenue in the months to come, and many brokerages quickly responded by cutting their outlook for the company's stock. Capital One sank $4.60 to $56.99.

— Life Technologies, a maker of genetic testing equipment, soared 11 percent following reports that it's considering putting itself up for sale. The company's board said it has hired Deutsche Bank Securities and the investment bank Moelis & Co. Life Technologies' stock jumped $5.82 to $60.79.

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