U.S. stocks open higher as markets try to build on the recent rally. General Electric (GE) reported earnings that beat estimates, however revenue missed. It blames sluggish oil and gas markets but that was partly offset by a strong quarter for aviation. GE reported earnings of 29 cents per share, versus 26 expected. Honeywell (HON) also suffered because of lower oil and gas prices but cost cutting helped it beat earnings expectations. Honeywell’s division that provides chemicals for the oil and gas sector was hit especially hard. UPS (UPS) says it will raise rates on shipping this year by around 5%. It says it’s delivering to more residences and that is why the price increase is necessary, despite lower fuel prices. Occidental (OXY) Petroleum is selling its interest in the North Dakota oil fields to a private equity fund. Markt Prophit plans to launch an ETF that follows Twitter (TWTR) chatter and makes trades based on that.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
