The Nasdaq managed to squeeze out a 25 point again but couldn't quite test last week's high. Investors didn't seem to mind too much as the stock closed higher. Profits don't matter nearly as much as information. But of course investors weren't spooked by the news. The poor results were already priced in a long time ago as the stock plummeted from its New Economy high.
Markets anticipate the future.
Today's news is old news to the market. Overall the market was significantly weaker earlier in the session following release of the Labor Department's productivity data. Of course the decline isn't anything about which to get your knickers in a twist, but it's a high profile statistic. That helped to stoke mounting inflation fears in the wake of recent record highs in the price of gasoline. Speaking of inflation, I went to buy a Mother's Day card today.