NEW YORK, November 2, 2018 /PRNewswire/ --
U.S. stocks opened lower at the beginning of the week, but
quickly recovered throughout the week. The Dow Jones Industrial
Average opened at 24,883.83 on Monday, before falling to the week's
low of 24,159.40 at the closing bell. The Dow Jones quickly
rebounded by 4.8% throughout the week, recovering from its losses
on Monday. Stronger earnings by Facebook, Baidu, Pfizer and
Coca-Cola propelled U.S. markets. Markets continued to rebound
after the U.S. President, Donald
Trump, engaged in talks with China's President Xi. He later claimed the
talks went well, suppressing investors fears of the ongoing trade
war. The S&P 500 rebounded by 5.02%, while the Nasdaq Composite
rebounded by 6.49%. The Boeing Company (NYSE: BA), General Electric
Company (NYSE: GE), Sprint Corporation (NYSE: S), Spotify
Technology S.A. (NYSE: SPOT), Wayfair Inc. (NYSE: W)
According to MarketWatch, Bruce
Bittles, Chief Investment Strategist at Baird, in a
Wednesday afternoon note, said that this two-day rally merits
caution: "The scale of this week's stock market move (the S&P
500 is 5% above its late-Monday low) is more a function of the
volatility seen in October than evidence, at this point, of
improving trends. While index-level strength off of Monday's lows
is encouraging, we maintain a cautious view. We can use historical
tendencies to describe a likely path forward. At the same time, we
cannot be so beholden to these expectations that we turn a blind
eye to emerging realities."
The Boeing Company (NYSE: BA) shares plummeted on Monday
after Lion Air flight JT610, a Boeing 737 Max 8, was en route to
Pangkal Pinang and crashed into the Java Sea. 189 people were on
board the flight and officials said it is most likely there are no
survivors. Edward Sirait, Chief
Executive Officer of Lion Air Group, told reporters that the same
aircraft had technical problems on another flight, but resolved its
according to procedures. Sirait declined to specify the matter of
the incident to reporters. Boeing shares fell by 7.5%.
For other earnings video recaps please visit:
https://www.youtube.com/watch?v=lmCMAK2FRxA
General Electric Company (NYSE: GE) shares plunged by
9.4% on Tuesday after GE announced its third quarter financial
results. The Company decided to slash its quarterly dividend from
12 cents to just one cent per share. The dividend change is
expected to take effect in December this year.
For other earnings video recaps please visit:
https://www.youtube.com/watch?v=lmCMAK2FRxA
Sprint Corporation (NYSE: S) reported its second quarter
financial results on Wednesday and topped analysts' estimates. The
mobile communications company topped estimates in revenue, earnings
and net subscriber additions, sending shares 9% higher. Sprint
reported a net income of USD 196
Million or 5 cents per share,
while analysts estimated a loss of 1
cent per share. Total revenue rose to USD 8.43 Billion, surpassing estimates of
USD 7.97 Billion.
Spotify Technology S.A. (NYSE: SPOT) reported its third
quarter financial results on Thursday. The music streaming service
topped estimates, the Company's results remained in-line with its
own guidance, causing shares to fall 10%. For the quarter, Spotify
reported revenue of EUR 1.35 Billion,
beating estimates of EUR 1.33 Billion
and reported earnings per share of EUR 0.23
cents, crushing estimates earnings per share loss of
EUR 0.24 cents. Monthly active users
grew by 28%, to 191 million users, while 87 million of the users
were premium subscribers.
For other earnings video recaps please visit:
https://www.youtube.com/watch?v=lmCMAK2FRxA
Wayfair Inc. (NYSE: W) reported its third quarter
financial results on Thursday and topped analysts' revenue
estimates, but reported a larger-than-expected loss for the
quarter. Shares plummeted by 17% at the opening bell on Thursday.
For the third quarter, Wayfair reported revenue of USD 1.7 Billion, topping estimates of
USD 1.67 Billion and reported an
adjusted loss per share of USD 1.28,
while analysts polled for a loss of USD
1.09 per share.
For other earnings video recaps please visit:
https://www.youtube.com/watch?v=lmCMAK2FRxA
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