Stocks / Highlights
Dow 30 Earnings: General Electric Third-Quarter 2017
Erik M. Manning | 10/20/2017
General Electric, (GE) an industrial conglomerate in the process of selling off its financial unit in an effort to get back to its industrial roots, has posted third-quarter financials for 2017. The revenue figure beat both our and Wall Street's expectations, but earnings missed the mark by a wide margin, and the full-year bottom-line outlook was trimmed by a substantial amount.
Stocks / HighlightsDow 30 Earnings: Procter and Gamble First Quarter Fiscal 2018
Orly Seidman | 10/20/2017
Investors seemed largely unimpressed with Procter & Gamble’s September-quarter financial results, as the stock price was down slightly this morning.
Markets / CommentariesStock Market Today: October 20, 2017
Harvey S. Katz, CFA, Adam Rosner, and Robert Harrington | 10/20/2017
After yesterday’s mixed tone to trading, the bulls stormed back on Friday. Each of the major large-cap indexes opened higher, rising to all-time high levels throughout the day. Though a generally positive trend from third-quarter earnings season has helped to prop up the averages for most of the past few weeks, today’s uptick relied heavily on the prospect of tax reform. Still, earnings-related contributions from PayPal (PYPL) and the welcome late-in-the-day rebound of General Electric (GE) shares bolstered the optimistic tilt to the week’s final session.
Stocks / HighlightsDow 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, William G. Ferguson, and Robert Harrington | 10/19/2017
Amidst another day of roughly even market breadth, the major U.S. indexes spent most of Thursday’s session in negative territory. Each of the composites set all-time records yesterday, so many investors were happy to collect profits. The Dow Jones Industrial Average and broad-based S&P 500 groupings managed to climb above their respective breakeven lines in the final hour, with the former remaining comfortably above the just-breached 23,000-point threshold throughout the day. The tech-laden NASDAQ 100, hindered by selling of Apple (AAPL) stock, failed to mount a similar recovery, but still closing with less-than-half its midday nadir.
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.