(CNBC) U.S. equities closed mixed on Thursday after hitting new record highs, as investors digested several key earnings reports.
Among the firms reporting Thursday were Ford and Dow component Caterpillar. Ford matched earnings estimates, while topping sales expectations. Caterpillar beat earnings estimates but fell short of revenue expectations. Alphabet, Intel, Microsoft, Paypal and Starbucks are among companies due to report after the bell.
"Companies are still able to beat on the bottom line, but are having a tougher time doing that on the top [line]," said Jack Ablin, chief investment officer at BMO Private Bank. "That could be a trend in cost cutting."
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