Financial News – Business News – Stock News – Market News – Stock Exchange


Business News – Financial News – Stock News — New York Stock Exchange — Market News 2019

Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2019

On Monday motor vehicle sales for October declined 3.5% to an annualized rate of 16.5 million units, lower than expected and factory orders for September fell .6%. Markets rose strongly on the good jobs report from last week, and optimism rose that the U.S. and China will strike a trade deal. The Dow Industrials, S&P 500, and Nasdaq Composite all hit record highs.

On Tuesday the ISM non-manufacturing index for October rose 2.1 points to 54.7 and the JOLTS job openings report for September fell 3.8% to 7.024 million jobs. Markets didn’t move much but the Dow Industrials managed to close at another record high while 10 year Treasuries yielded 1.85%. West Texas Intermediate crude rose 1.1% to finish at $57.16 a barrel.

On Wednesday the EIA petroleum status report for the week ending November 1st saw crude oil inventory increase 7.9 million barrels. Productivity and costs for the third quarter saw nonfarm productivity decline .3%, unexpectedly low, while unit labor costs rose 3.6%, higher than expected. Markets gave back any gains when reports said the U.S. and China probably won’t meet to sign a trade deal until December.

On Thursday jobless claims for the week ending November 2nd fell 8,000 to 211,000, and 430 companies of the S&P 500 have reported their quarterly earnings with almost 75% beating expectations. Ten year Treasuries gained nine basis points to 1.92% and markets took off on the news that the U.S. and China would be simultaneously removing tariffs. The Dow Industrials closed at a record high.

On Friday consumer sentiment for November rose .2 points to 95.7 and President Trump said he has not agreed to rollback tarrifs on Chinese goods. Markets opened lower on the news. Now let’s take a look at some stocks.

Under Armour, Inc. (NYSE: UAA) reported its third-quarter results before the opening bell on Monday morning. The company topped analysts’ expectations but slashed its revenue outlook for the year, which sent shares tumbling by 16%. For the quarter, Under Armour earned $0.23 per share on revenue of $1.4 billion.

Uber Technologies, Inc. (NYSE: UBER) reported its third-quarter results after the closing bell on Monday. The ride-hailing service provider reported better-than-expected earnings and revenue, however, shares tumbled by as much as 8% on Tuesday morning. For the quarter, Uber had an earnings loss of $1.16 billion or $0.68 per share, representing an 18% increase in losses year-over-year. Revenue came in at $3.8 billion.

QUALCOMM Incorporated (NASDAQ: QCOM) shares popped over 7% on Thursday morning after reporting its fourth-quarter results with earnings of $0.78 per share on revenue of $4.8 billion. Analysts anticipated earnings of USD 0.71 per share on revenue of $4.7 billion.

Roku, Inc. (NASDAQ: ROKU) reported its third-quarter results after the closing bell on Wednesday. The company topped revenue estimates, however, shares cratered by as much as 17% on Thursday morning. For the quarter, Roku reported an earnings loss of $0.22 per share on revenue of $261 million.

The Walt Disney Company (NYSE: DIS) reported its quarterly results after the closing bell on Thursday. The company topped earnings and revenue estimates, sending shares higher over 3% during extended trading hours. For the quarter, Disney reported earnings of $1.07 per share on revenue of $19.1 billion. The company’s overall revenue grew by 34% year-over-year, driven by a 22% revenue growth in its Media Networks segment as well as a 52% revenue growth in its Studio Entertainment segment.

© 2011 Financial Buzz. All rights reserved. No portion of may be duplicated, redistributed or manipulated in any form without our consent, violators will be prosecuted to the full extent of the law.


0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *