NEW YORK, January 18, 2019 /PRNewswire/ --
Financialinsiders.com News Commentary
U.S. stocks began the week strong as investors anticipated the
upcoming earnings season and the Dow Jones Industrial posted three
days of consecutive gains leading into Thursday. Citigroup kicked
off the earnings season and reported better-than-expected results,
lifting the markets on Monday. The rally continued on into Tuesday
even though JPMorgan Chase missed its earnings estimates. JPMorgan
has not missed its earnings estimates in nearly 12 straight
quarters now. The bank's results were quickly suppressed by
stronger-than-expected earnings from United Continental, Bank of
America, and Goldman Sachs, sending markets surging on Wednesday.
The Dow Jones gained 233.07 points or approximately 1% from
Wednesday's close into Thursday's afternoon high of 24,284.38. The
markets then spiked in late afternoon on Thursday after reports
surfaced of the U.S. possibly easing trade tariffs with
China. Regardless of the positive
trade news, markets began to edge lower towards the end of
Thursday's trading session. Since Monday's opening bell into
Thursday's jump, the Dow Jones Industrial Average had gained 659.2
or 2.7% points, while the S&P 500 gained 73.06 points or 2.8%
in the same time-frame, and the Nasdaq Composite rose by 220.2
points or 3.1%. Lululemon Athletica Inc. (NASDAQ: LULU), Blue Apron
Holdings, Inc. (NYSE: APRN), United Continental Holdings Inc.
(NASDAQ: UAL), The Goldman Sachs Group, Inc. (NYSE: GS), Morgan
Stanley (NYSE: MS)
Netflix reported its fourth-quarter results after the market
close on Thursday and surpassed expectations for subscriber growth
and earnings, however, shares still declined. Although Netflix
missed its revenue estimates, U.S. markets continued to remain
green shortly into Thursday's extended trading hours. American
Express also missed its estimates, which sent shares declining by
2.7%. Despite the number of large corporations missing their
estimates, markets maintained almost neutral levels throughout
Thursday. "There are so many earnings reports yet to come, and
that's why you're not seeing more movement in the markets today,"
Tom Martin, Senior Portfolio Manager
at Globalt Investments, told MarketWatch.
Lululemon Athletica Inc. (NASDAQ: LULU) shares rose by
5.4% on Monday after the Company raised its guidance outlook for
its fourth quarter. For Q4, Lululemon is expecting net revenue in
the range of USD 1.14 Billion to
USD 1.15 Billion compared to its
previous forecast of USD 1.115
Billion to USD 1.125 Billion.
The retailer also projects diluted earnings per share to be in the
range of USD 1.72 to USD 1.74, compared to its previous estimates of
USD 1.64 to USD 1.67.
Blue Apron Holdings, Inc. (NYSE: APRN) shares surged by
47.6% on Tuesday after providing an update on its strategic
activities and its upcoming fourth quarter. The meal kit service
said that it would be profitable in 2019, pushing the stock price
to as high as USD 1.50 after falling
below USD 1. Blue Apron said it plans
to reaffirm profitability during both the first quarter of 2019 and
the full year.
United Continental Holdings Inc. (NASDAQ: UAL) reported
its fourth quarter financial results after the closing bell on
Tuesday and topped analysts' estimates. United shares rose by 5.91%
during Tuesday's after market hours. For the fourth quarter, United
reported adjusted earnings of USD
2.41 on revenue of USD 10.49
Billion whereas analysts estimated earnings of USD 2.04 per share on revenue of USD 10.34.
The Goldman Sachs Group, Inc. (NYSE: GS) shares rose by
4% during early trading sessions on Wednesday after beating
analysts' estimates for its fourth-quarter profits. The bank
reported a profit of USD 2.54 Billion
or USD 6.04 per share. Goldman
results crushed analyst's estimates of USD
1.64 Billion or USD 4.27 per
share. Quarterly revenue was USD 8.1
Billion.
Morgan Stanley (NYSE: MS) reported its fourth quarter
financial results and missed analysts' estimates, causing shares to
fall by 5% on Thursday morning. For the quarter, the bank reported
earnings per share of USD 80 cents on
revenue of USD 8.55 Billion. Analysts
expected earnings per share of USD 89
cents on revenue of USD 9.3
Billion.
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