Diamonds and Dogs
One regional bank standing out. Huntington Bancshares (HBAN) is up 3% to a one month high following better than expected earnings and raised guidance for the third quarter. Average loans and leases increased 7% to $5.3 billion while noninterest income increased $17 million or 5% thanks to better mortgage origination business.
Profit-taking in Microsoft (MSFT). Microsoft is down 2% even though the company beat earnings and sales expectations. Their Azure cloud computing segment grow by 47% year over year which actually was a disappointment verse growth of 59% in the previous quarter. Server products and cloud services to support Azure grew 19%. Microsoft's stock is still up 30% for the year.
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