Well it was another mixed day though most would call it a win by the bulls. The markets continue to adjust to the earnings announcements and trade independently of themselves. Going into tomorrow, as we end the month the focus will be on the Bank of Japan conference, along with consumer sentiment numbers.
Today the Dow 30 was down 12, the S&P 500 added 3, and the Nasdaq 100 gained 12.
Facebook (FB ) gapped up over 4 .0% today after beating analysts' estimates for the quarter. However, the gap was met with a large amount of profit takers and shares of Facebook finished up only 1.3%. For the week Facebook has gained over 5.5%, compared to a gain of 1.1% in the sector as a whole.
Boeing (BA ) had a small gain yesterday after the company lowered its earnings estimates for the fiscal year. Boeing also reported that quarterly losses fell in line with previously announced write-downs. After taking the evening to digest this news from Boeing, investors woke in a selling mood pushing the stock lower by 2.3%. The selling pressure today almost completely erases a decent gain on the week.
Ford (F ) fell apart today, losing 8.38% after missing bottom-line estimates for the quarter and warning that it sees challenges in achieving its full-year guidance. The company also warned about tightening margins going forward. All of this pushed Ford towards its monthly low on trading volume that was the highest its been all year.
Bristol-Myers (BMY ) announced that it beat analysts estimates in its latest quarter. Bristol-Myers reported that revenue rose 17.2% year-over-year, climbing to $4.88 billion. This appeared to cause the bulls to take a little profit off the table as shares did sell of slightly (-2.14). Even with this pullback BMY can still boast over a 2% rally on the month.