Stocks / Highlights
Dow 30 Earnings: Verizon Communications Third Quarter 2017
Kenneth A. Nugent | 10/19/2017
Shares of Verizon are trading modestly higher on news of the telecommunications giant’s decent third-quarter results.
Stocks / HighlightsDow 30 Earnings: Travelers Cos. Third Quarter 2017
Alan G. House | 10/19/2017
Property/Casualty insurer Travelers (TRV) reported decent results for the September quarter, given the challenges currently facing the P/C insurance market. This year has been one of the most severe hurricane seasons (June 1st through November 30th) on the domestic front in quite some time.
Stocks / HighlightsDow 30 Earnings: American Express Third Quarter 2017
Ian Gendler | 10/19/2017
American Express, (AXP) a Dow-30 component and one of the world's largest issuers of credit cards, has reported September-period financial results. For the quarter, revenues of $8.4 billion were nicely ahead of the year-earlier figure ($7.8 billion) and beat our estimate of $8.3 billion. Share net came in at $1.50, which was a nickel better than our expectation and compared favorably with the $1.20 achieved last year. Following the earnings announcement, shares of AXP didn't move much.
Markets / CommentariesStock Market Today: October 19, 2017
Harvey S. Katz, CFA and William G. Ferguson | 10/19/2017
The major U.S. averages, all fresh off of record closings yesterday, started today’s session in the red and have held onto a good deal of the losses as we move toward the midday hour on the East Coast. The biggest reason for the selling is weakness in the technology sector, which is being hurt by some declines in the big tech names. We also sense that there is some profit taking in play after the aforementioned all-time high finishes on Wall Street.
Markets / CommentariesThe Beige Book Is Reassuring
Harvey S. Katz, CFA | 10/18/2017
The Federal Reserve issued its Beige Book economic summation a little earlier this afternoon, and there were no surprises. In fact, the stock market, up strongly at that time, continued to hold its impressive gains following the mid-afternoon issuance.
Stocks / HighlightsDow 30 Earnings: International Business Machines Third Quarter 2017
Theresa Brophy | 10/18/2017
International Business Machines (IBM) reports better-than-expected third-quarter results, sending the stock significantly higher.
Markets / CommentariesStock Market Today: October 18, 2017
Harvey S. Katz, CFA, Robert Mitkowski, and Robert Harrington | 10/18/2017
Amidst mostly mixed overall market breadth, the major U.S. equities traded higher for most of the day, driven by optimism stemming from corporate earnings season and an encouraging update from the Federal Reserve. The positive sentiment was driven once more by the Dow Jones Industrial Average, which broached the 23,000 threshold at the open and added to its daily gains as the session wore on. While recent strength would suggest some possible vulnerability down the road, the prospect of tax reform could well spur the blue chip index toward 24,000 by the end of the year. By the closing bell, however, both the S&P 500 and NASDAQ had fallen back toward their breakeven lines.
Stocks / HighlightsDow 30 Earnings: UnitedHealth Group Third Quarter 2017
Erik M. Manning | 10/17/2017
UnitedHealth Group, (UNH) the nation's largest healthcare insurer, reported third-quarter results that met consensus revenue targets and beat earnings expectations by a handsome margin. Too, management raised its EPS guidance for 2017 and reiterated its outlook for 2018. On the heels of these positives, UNH stock rose to a fresh 52-week high north of the $204 mark, and has since retreated to a quotation just below that level. Still, the stock is up more than 5% on the news.
Stocks / HighlightsDow 30 Earnings: Johnson and Johnson Third Quarter 2017
James Flood | 10/17/2017
Johnson and Johnson’s quarterly report was better-than-expected, prompting investors to purchase shares.