Markets dipped into the close this Tuesday, with all four main indexes reaching the closing bell slightly in the red. Both the Dow and Nasdaq were down 0.07% on the day, marking the first time in five sessions the Nasdaq closed lower, but the fourth straight down day for the Dow. The S&P 500 doubled those losses, down 0.15% on the day, while the small-cap Russell 2000 took up the rear, 0.62% lower. The heavy stream of earnings reports continues this afternoon, as Microsoft ( becomes the next tech major to outperform estimates: $2.03 per share easily surpassed the $1.64 in the Zacks consensus, on $43.08 billion in revenues, which zoomed past the $40.12 billion expected and +17% from the same quarter a year ago. Microsoft has not missed an earnings estimate in five years, with a trailing four-quarter average beat of more than 12%. MSFT Quick Quote MSFT - Free Report) Across the board, Microsoft outperformed expectations: in Intelligent Cloud, Professional Services and Personal Computing. The Zacks Rank #3 (Hold)-rated tech giant gained 5% immediately upon its earnings release, though has pulled back a tad in the after-market. Microsoft stock is up nearly 45% year over year. For more on MSFT's earnings, click here. Starbucks ( put up a mixed fiscal Q1 after today’s closing bell, topping earnings estimates by 6 cents to 61 cents per share. Revenues of $6.75 billion missed the $6.87 billion estimated by our analysts. Same-store sales were lower both globally and in the U.S. for the quarter, while they did gain 5% in China. SBUX Quick Quote SBUX - Free Report) Also, Chief Operating Officer (COO) Roz Brewer will be leaving the company in late February, taking the CEO position at another publicly traded company yet to be named. Shares are down 1.6% in late trading. For more on SBUX's earnings, click here. A notable outperformer in the chip space, Advanced Micro Devices (, handily outpaced estimates on both top and bottom lines this afternoon: 52 cents per share beat the 47 cent Zacks consensus, while $3.24 billion in quarterly sales sprinted past the $3.02 billion analysts were expecting. Both top and bottom results were roughly 50% higher than AMD’s year-ago quarter. AMD Quick Quote AMD - Free Report) Strong guidance for next quarter sales — $3.2 billion versus $2.7 billion anticipated — and improved gross margin guidance for full-year 2021 bolstered the earnings report. However, shares are selling off 2% on the news, perhaps due to the stock having gained nearly 100% over the past 12 months. For more on AMD's earnings, click here. Questions or comments about this article and/or its author? Click here>> +1,500% Growth: One of 2021’s Most Exciting Investment Opportunities In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second. Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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