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Stocks Start Week Higher

Jeremy Glaser

U.S. Market
Stocks rose this morning, building on Friday’s gains.

Factory orders rose 2.1% in March, slightly below expectations. February’s orders were revised down to a 0.1% decline from an originally reported 0.2% increase.

At midday the Dow and S&P 500 were each up 0.4% while the Nasdaq was 0.5% higher.

Stocks on the Move
Shares of Comcast (CMCSA) were up less than 1% this morning after reporting better-than-expected results. The firm said it earned 79 cents a share in the quarter, up from 68 cents a share in the year-ago quarter and above the 74 cents a share expected by economists. The company also boosted its share buyback program by $2.5 billion.

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Berkshire Hathaway (BRK.A)(BRK.B) released results for the first quarter of 2015 late Friday that were an improvement on prior-year earnings, but resulted in a rather lackluster improvement in book value per share. First-quarter revenue increased 7% year over year to $48.6 billion, with the biggest contribution coming from Berkshire's manufacturing, sales, and retail operations, which benefited from both organic growth and acquisitions during the period. Pretax operating earnings increased 15.9% year over year to $7.6 billion during the first quarter, and were up 18.4% (to $6.3 billion) after excluding the impact of gains and losses on investments and derivatives.

Foreign Markets
European markets were higher today. The FTSE 100, Paris CAC and Germany’s DAX were up 0.4%, 0.7% and 1.4% respectively.

Asian shares were mostly higher today. The Shanghai Composite Was up 0.9% while the Hang Seng was flat. Japanese markets were closed.