Strong earnings reports from Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) couldn’t prevent another losing day on Wall Street Friday, as stocks ended their worst month in a year on a down note.
Microsoft fell more than 3 percent despite much stronger than expected results, as traders fretted about the pace of enterprise spending.
Amazon also slipped despite another stellar quarter, but Juniper (NASDAQ: JNPR) managed to edge higher on its results.
But the day’s biggest decliners were in the chip sector, led by an 11 percent decline in SanDisk (NASDAQ: SNDK) on a disappointing outlook. Micron (NYSE: MU) and Marvell (NASDAQ: MRVL) were other decliners.