The markets were higher today as earnings, and the Fed's beige book helped support stocks. The Dow 30 was up 54, the S&P 500 added 4, and the Nasdaq 100 gained 2. Tomorrow's scheduled news includes manufacturing numbers as well as unemployment claims, and home sales.
Yahoo (YHOO) was in the news today as the company announced earnings yesterday that were mixed. One bright spot was in the user number which was stable despite the news of the recent data hack. Yahoo reported better than expected earnings for the third quarter. For the most part revenue matched estimates, but analysts did note that core revenue fell 14% from a year ago. Analysts were also divided on whether the results of last quarter would have any effect on the deal between Verizon (VZ) and Yahoo. Despite the mixed results, shares were still higher by 2.52% today.
Intel (INTC) shares plummeted 5.93% today after the company reported a disappointing sales outlook for the current quarter late yesterday. This came despite an earnings report that had revenue topping Wall Street estimates in the third quarter. The earnings report revealed that revenue and profit rose from a year ago, thanks to "improving demand for PCs and growth in Intel's data center and cloud businesses." Despite the good earnings release, investors heeded the warning from the company and sold shares.
Starbucks(SBUX) came off its 2016 lows today (1.03%) after the company announced that it is boosting its bet on China, saying it plans to 5,000 stores there in the next five years. That's more than double the current number. Starbucks also named its first CEO for China, promoting Belinda Wong from president. According to Starbucks, "she's helped boost Starbucks footprint in China from 400 stores in 2011 to the 2,300 it has there now." The company says she'll oversee the opening of Starbucks' first international Roastery and Tasting Room in Shanghai next year.
Morgan Stanley(MS) was yet another large bank to report an earnings beat, causing a nice 1.89% rally today. The Wall Street firm reported a beat on both its top and bottom lines for the quarter ending September 30th. Profit jumped 57% from a year ago, driven by a rise in trading revenue.
Stocks rose on Monday as market participants were encouraged by new artificial intelligence news ahead of the Federal Reserve's policy meeting this week. The Dow Jones Industrial Average climbed over 75 points, while the S&P 500 Index and Nasdaq Composite added 0.6% and 0.8%, respectively.
Oil weakness a drag on market.
The markets suffered a blow from the bears today as weakness was widespread. Unlike yesterday the market was unable to shake off the weaknes...
Oil weakness a drag on market.
The markets suffered a blow from the bears today as weakness was widespread. Unlike yesterday the market was unable to shake off the weaknes...
Weak GDP is a good thing?
The markets finish the week with a bang as weak GDP numbers fueled the rally. Why is this a good thing? Well, the market is expecting anywhe...
Weak GDP is a good thing?
The markets finish the week with a bang as weak GDP numbers fueled the rally. Why is this a good thing? Well, the market is expecting anywhe...
T.G.I.F. The end to a rough week on Wall...
The markets closed out the week with a severe sell off led by the Nasdaq 100. Today alone the Nasdaq lost 146 points (-3.25%). The S&P 500 d...
T.G.I.F. The end to a rough week on Wall...
The markets closed out the week with a severe sell off led by the Nasdaq 100. Today alone the Nasdaq lost 146 points (-3.25%). The S&P 500 d...
Starting to hurt yet?
Its safe to say that the markets have reached a point where no one can avoid the pain. After Fridays strong selloff the markets started the...
Starting to hurt yet?
Its safe to say that the markets have reached a point where no one can avoid the pain. After Fridays strong selloff the markets started the...
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