Stocks making the biggest moves premarket: American Express, Coca-Cola, E*Trade & more

Coca-Cola – The beverage maker reported adjusted quarterly profit of 56 cents per share, in line with forecasts. Schlumberger – The oilfield services company beat forecasts by 3 cents with adjusted quarterly profit of 43 cents per share. E*Trade Financial – E*Trade reported quarterly earnings of $1.08 per share, 7 cents a share above estimates. Intuitive Surgical – Intuitive Surgical reported adjusted quarterly profit of $3.43 per share, beating the consensus estimate of $2.99 per share. The mak


Coca-Cola – The beverage maker reported adjusted quarterly profit of 56 cents per share, in line with forecasts.
Schlumberger – The oilfield services company beat forecasts by 3 cents with adjusted quarterly profit of 43 cents per share.
E*Trade Financial – E*Trade reported quarterly earnings of $1.08 per share, 7 cents a share above estimates.
Intuitive Surgical – Intuitive Surgical reported adjusted quarterly profit of $3.43 per share, beating the consensus estimate of $2.99 per share.
The mak
Stocks making the biggest moves premarket: American Express, Coca-Cola, E*Trade & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, moves, premarket, american, reported, beat, surgical, cocacola, revenue, forecasts, cents, estimates, express, etrade, quarterly, biggest, share, stocks, making, profit


Stocks making the biggest moves premarket: American Express, Coca-Cola, E*Trade & more

Check out the companies making headlines before the bell:

American Express – The financial services giant earned $2.08 per share for the third quarter, 5 cents a share above estimates. Revenue also came in above analysts’ forecast. American Express also forecast current-quarter revenue growth of 8% to 10%, compared to a consensus estimate of 8.9%.

Coca-Cola – The beverage maker reported adjusted quarterly profit of 56 cents per share, in line with forecasts. Revenue was higher than expected. Coca-Cola also reported organic sales growth of 5%, beating forecasts, and also raised its full-year guidance for revenue and operating income.

Schlumberger – The oilfield services company beat forecasts by 3 cents with adjusted quarterly profit of 43 cents per share. Revenue also came in above analysts’ forecasts amid strong international growth.

E*Trade Financial – E*Trade reported quarterly earnings of $1.08 per share, 7 cents a share above estimates. The brokerage firm’s revenue also beat Wall Street forecasts. The company said it would move to take more market share in the new zero commission environment.

Intuitive Surgical – Intuitive Surgical reported adjusted quarterly profit of $3.43 per share, beating the consensus estimate of $2.99 per share. The maker of robotic surgical devices also saw revenue beat estimates, with procedures involving its flagship Da Vinci growing nearly 20% from a year earlier.

General Motors – GM workers will remain on the picket lines until a ratification vote is complete. GM and the United Auto Workers union announced a tentative labor agreement earlier this week.

InterContinental Hotels Group – The hotel operator reported a 0.8% decline in the key metric of revenue per available room during the third quarter. The Holiday Inn and Crowne Plaza owner’s business was impacted by the Hong Kong protests, among other factors.


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, moves, premarket, american, reported, beat, surgical, cocacola, revenue, forecasts, cents, estimates, express, etrade, quarterly, biggest, share, stocks, making, profit


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Stocks making the biggest moves midday: Johnson & Johnson, Coca-Cola, L Brands & more

In this photo illustration, a container of Johnson’s baby powder made by Johnson and Johnson sits on a table on July 13, 2018 in San Francisco, California. Intuitive Surgical — Intuitive Surgical popped more than 5.5% after it reported quarterly profit of $3.43 per share, beating consensus estimates. The designer of robotic surgical devices saw sales beat estimates, with procedures involving its flagship Da Vinci growing nearly 20% on a year-over-year basis. Johnson & Johnson — The Dow component


In this photo illustration, a container of Johnson’s baby powder made by Johnson and Johnson sits on a table on July 13, 2018 in San Francisco, California.
Intuitive Surgical — Intuitive Surgical popped more than 5.5% after it reported quarterly profit of $3.43 per share, beating consensus estimates.
The designer of robotic surgical devices saw sales beat estimates, with procedures involving its flagship Da Vinci growing nearly 20% on a year-over-year basis.
Johnson & Johnson — The Dow component
Stocks making the biggest moves midday: Johnson & Johnson, Coca-Cola, L Brands & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: thomas franck
Keywords: news, cnbc, companies, midday, shares, stock, estimates, share, brands, biggest, stocks, firm, moves, company, surgical, saw, johnson, cocacola, making, sales


Stocks making the biggest moves midday: Johnson & Johnson, Coca-Cola, L Brands & more

In this photo illustration, a container of Johnson’s baby powder made by Johnson and Johnson sits on a table on July 13, 2018 in San Francisco, California.

Check out the companies making headlines in midday trading:

Coca-Cola — Shares of Coca-Cola jumped more than 2.5% in midday trading after the beverage company said in its third-quarter earnings report that demand for Coke Zero Sugar is driving better revenues. Despite as-expected profit figures, investors snapped up KO shares after its sugarless drink again saw double-digit volume growth.

L Brands — The retailer plunged more than 7.5% following a downgrade to underperform at Credit Suisse. The firm said the company is currently facing a “multitude of challenges,” particularly when it comes to underperforming Victoria’s Secret where the space “is getting more competitive by the day.” The firm also downgraded Macy’s and Gap to underperform.

Intuitive Surgical — Intuitive Surgical popped more than 5.5% after it reported quarterly profit of $3.43 per share, beating consensus estimates. The designer of robotic surgical devices saw sales beat estimates, with procedures involving its flagship Da Vinci growing nearly 20% on a year-over-year basis. UBS raised its price target on the stock to $590 following the results, implying 11% upside from Thursday’s close.

Johnson & Johnson — The Dow component’s stock fell more than 4% on news the company is recalling baby powder after discovering traces of asbestos in it. Johnson & Johnson also said it is working with the Food and Drug Administration in its investigation on the matter.

Chipotle Mexican Grill — Shares of the restaurant chain gained more than 1% after Bank of America upgraded the stock to a neutral rating. The firm said that sales momentum and a drop in avocado prices will power the stock higher.

E*Trade Financial – E*Trade jumped 5% after the brokerage reported quarterly earnings of $1.08 per share, 7 cents a share above estimates. The company, which also topped revenue expectations, said it plans to take more market share in the new zero-commission landscape.

CrowdStrike – Shares of cybersecurity technology company CrowdStrike fell to a 52-week low of $46.90 on Friday after Citi initiated coverage of the stock with a sell rating. The brokerage said CrowdStrike won’t be able to sustain the current pace of growth and is likely too expensive relative to normal software multiples. The stock was last seen down 6.7% after falling more than 7% at its lows.

– CNBC’s Pippa Stevens and Fred Imbert contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: thomas franck
Keywords: news, cnbc, companies, midday, shares, stock, estimates, share, brands, biggest, stocks, firm, moves, company, surgical, saw, johnson, cocacola, making, sales


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Consumer staples stocks are having best year in decades, but valuations may be ‘stretched’

A handful of top consumer staples stocks are having a banner year, with better year-to-date gains in 2019 than they’ve seen for decades. “But we do think some of the consumer stocks are overvalued.” “I think Walmart is showing good strength within [the Consumer Staples Select Sector SPDR Fund, or] XLP.” While Gordon said staples stocks were broadly overvalued, he maintained his bullish take on one high-flying name. “Plus, I think Costco trades more as a discretionary rather than a consumer stapl


A handful of top consumer staples stocks are having a banner year, with better year-to-date gains in 2019 than they’ve seen for decades.
“But we do think some of the consumer stocks are overvalued.”
“I think Walmart is showing good strength within [the Consumer Staples Select Sector SPDR Fund, or] XLP.”
While Gordon said staples stocks were broadly overvalued, he maintained his bullish take on one high-flying name.
“Plus, I think Costco trades more as a discretionary rather than a consumer stapl
Consumer staples stocks are having best year in decades, but valuations may be ‘stretched’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: lizzy gurdus
Keywords: news, cnbc, companies, best, shares, decades, staples, stock, valuations, tengler, think, stocks, walmart, costco, stretched, having, consumer


Consumer staples stocks are having best year in decades, but valuations may be 'stretched'

It’s a party in the pantry.

A handful of top consumer staples stocks are having a banner year, with better year-to-date gains in 2019 than they’ve seen for decades. They include:

PepsiCo, up 24%, its best year since 2000;

Costco, up 48%, its best year since 1998;

Procter & Gamble, up 28%, its best year since 1997;

Campbell Soup, up 45%, its best year since 1997;

General Mills, up 35%, its best year since 1991;

Hershey, up 43%, its best year since 1986.

That doesn’t mean they’re necessarily buys, warns Nancy Tengler, chief equity strategist at Tengler Wealth Management.

“I do think there are better places to be in the market,” she told CNBC’s “Trading Nation” on Thursday. “These valuations are pretty stretched.”

Tengler said that while she doesn’t believe September’s unexpected drop in retail sales “is indicative of a weakening consumer,” a number of the stocks behind consumer-facing companies appear to have lofty valuations.

“One month of retail sales numbers doesn’t have me concerned. We think the consumer is in great shape for all the obvious reasons: interest rates, employment, gas prices are tame,” the strategist said. “But we do think some of the consumer stocks are overvalued.”

Having pounded the table on stocks such as Costco when the stock market rolled over at the end of 2018, Tengler said her firm has decided it’s time to reposition.

“We’ve been selling a lot of those names. We exited Costco last week on a valuation basis. It’s just too overdone for us,” she said. “We do still hold PepsiCo, but we’ve trimmed Apple, which I think is kind of consumer-y. We’ve also trimmed Starbucks, Home Depot, Procter & Gamble, and we’re still holding onto things like Walmart.”

Walmart also caught the eye of Todd Gordon, longtime trader and founder of TradingAnalysis.com, who flagged the stock’s “beautiful” uptrend in the same “Trading Nation” interview.

“Ninety-five to 100 is your support level,” he said, noting that he’d recommend adding to a position in Walmart as the stock heads higher. “I think Walmart is showing good strength within [the Consumer Staples Select Sector SPDR Fund, or] XLP.”

While Gordon said staples stocks were broadly overvalued, he maintained his bullish take on one high-flying name.

“One stock that I do like is Costco. I continue to hold it in my portfolio simply because it’s working,” he said, pointing to the stock’s neat uptrend since the end of last year.

“You really can’t dump it until it gets below about 250,” he said, adding that he’d also boost his Costco position if the stock were to break out to the upside.

“But … once it gets overvalued into resistance, I’m going to look to scale back,” he said. “Plus, I think Costco trades more as a discretionary rather than a consumer staple just because of the growth rate.”

Costco shares were down less than 1% by midday Friday at $302.26 a share. Walmart was near $119.66, a less than 1% decline. The XLP gained less than 1%.

Disclosure: Todd Gordon owns shares of Costco. Nancy Tengler and Tengler Wealth Management both own shares of PepsiCo, Apple, Starbucks, Home Depot, Procter & Gamble and Walmart.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: lizzy gurdus
Keywords: news, cnbc, companies, best, shares, decades, staples, stock, valuations, tengler, think, stocks, walmart, costco, stretched, having, consumer


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Everything Jim Cramer said about the stock market on ‘Mad Money,’ including playing earnings week, FAANG audit, bank stocks

CNBC’s Jim Cramer takes a look at the week ahead for earnings, which includes a deluge of reports on Tuesday and Wednesday. The “Mad Money” host says it’s time to revamp the FAANG group and swap one company for another tech giant. Earnings overloadhas a jam-packed week full of earnings reports circled on his calendar for the trading week starting Monday, October 21. Waiting to turn positive on Wells FargoPeople walk by a Wells Fargo bank branch on October 13, 2017 in New York City. Spencer Platt


CNBC’s Jim Cramer takes a look at the week ahead for earnings, which includes a deluge of reports on Tuesday and Wednesday.
The “Mad Money” host says it’s time to revamp the FAANG group and swap one company for another tech giant.
Earnings overloadhas a jam-packed week full of earnings reports circled on his calendar for the trading week starting Monday, October 21.
Waiting to turn positive on Wells FargoPeople walk by a Wells Fargo bank branch on October 13, 2017 in New York City.
Spencer Platt
Everything Jim Cramer said about the stock market on ‘Mad Money,’ including playing earnings week, FAANG audit, bank stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: tyler clifford
Keywords: news, cnbc, companies, cramer, including, bank, market, earnings, wells, group, playing, stocks, money, week, stock, jim, getty, faang, mad, host


Everything Jim Cramer said about the stock market on 'Mad Money,' including playing earnings week, FAANG audit, bank stocks

CNBC’s Jim Cramer takes a look at the week ahead for earnings, which includes a deluge of reports on Tuesday and Wednesday. The “Mad Money” host says it’s time to revamp the FAANG group and swap one company for another tech giant. Later in the show, Cramer makes recommendations for financial stocks.

Earnings overload

has a jam-packed week full of earnings reports circled on his calendar for the trading week starting Monday, October 21. Questions abound whether economic weakness and trade worries will continue to spook investors, although consumer-based companies are given a pass, the “Mad Money” host said Friday. “Next week is tough to game: too many companies, too many variables. It might just be worth it to sit on your hands throughout the week: no buys, unless we see something truly game-changing from China,” he said. “Otherwise, at this point in earnings season, you should simply try to stop, look and listen” and do your homework.

FAANG shakeup

Microsoft CEO Satya Nadella smiles during the Microsoft Build developer conference in Seattle on May 10, 2017. David Ryder | Bloomberg | Getty Images

Time to retire FAANG? Cramer, who enjoys putting acronyms to good use, is now on the prowl for a new play on words to redefine the group of big technology stocks. Though he did not invent the FAANG acronym, the host popularized the term that encompasses the internet stocks of , , , Netflix and Google-parent Alphabet. Now he is calling for another giant in tech to displace the streaming platform from the bunch. “I say we replace Netflix with the far less episodic Microsoft, but if we do that, well, you know we’ve got some difficult choices to make,” Cramer said. “I need a new acronym.”

Waiting to turn positive on Wells Fargo

People walk by a Wells Fargo bank branch on October 13, 2017 in New York City. Spencer Platt | Getty Images

After a bank earnings blitz this week, Cramer broke down the performances in the major institutions of JPMorgan Chase, Bank of America, Citigroup and Wells Fargo. He gave his blessings to invest in each of the stocks except the latter, which he called the “perennial whipping boy” of the group. “As for Wells, why don’t we wait and see … what Charlie [Scharf] can do” once he takes over as CEO next week, the host said, “and if he tells a good story, I might have to change my mind and tell you to buy this once best-of-breed national bank.”

Assessing Goldman Sachs, Morgan Stanley and American Express

People walk in front of the American Express offices in New York City. Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: tyler clifford
Keywords: news, cnbc, companies, cramer, including, bank, market, earnings, wells, group, playing, stocks, money, week, stock, jim, getty, faang, mad, host


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One-time bond king Bill Gross is back, and now he’s picking stocks

Pimco founder and bond industry legend Bill Gross is done with his previous life running huge investment firms and making market headlines. Instead, the one-time “bond king” is putting money to work for his own sake rather than running what was once the world’s largest fixed income fund. Commenting on what he’s been up to since retiring in February from Janus Capital, where he managed its underperforming unconstrained fund, Gross said, “I’ve been at the beach or the golf course.” “If I had to do


Pimco founder and bond industry legend Bill Gross is done with his previous life running huge investment firms and making market headlines.
Instead, the one-time “bond king” is putting money to work for his own sake rather than running what was once the world’s largest fixed income fund.
Commenting on what he’s been up to since retiring in February from Janus Capital, where he managed its underperforming unconstrained fund, Gross said, “I’ve been at the beach or the golf course.”
“If I had to do
One-time bond king Bill Gross is back, and now he’s picking stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: jeff cox
Keywords: news, cnbc, companies, fund, onetime, invesco, gross, bill, pimco, stocks, managed, king, interview, picking, running, golf, investment, bond, hes


One-time bond king Bill Gross is back, and now he's picking stocks

Pimco founder and bond industry legend Bill Gross is done with his previous life running huge investment firms and making market headlines. But that doesn’t mean he’s done as an investor.

Instead, the one-time “bond king” is putting money to work for his own sake rather than running what was once the world’s largest fixed income fund.

In an interview with CNBC’s Brian Sullivan, Gross offered a buffet of investing choices: real estate trust Annaly Capital, investment manager Invesco and specialty pharma firm Allergan to name three. Annaly and Invesco have both fared poorly this year, while Allergan is up more than 30%.

How well they do, though, is not of life-or-death importance to Gross, whose net worth is still estimated at $1.5 billion despite a messy, expensive and headline-grabbing divorce from wife, Sue.

Commenting on what he’s been up to since retiring in February from Janus Capital, where he managed its underperforming unconstrained fund, Gross said, “I’ve been at the beach or the golf course.”

“If I had to do it again, I wouldn’t have left Pimco,” Gross said during the interview, which aired live on “Power Lunch.” “But in leaving Pimco I would have gone straight to the golf course. I think I tried to prove too much.” Gross founded Pimco in 1971 and managed its total return fund, which once boasted more than $270 billion in assets.

On more macro-focused matters, Gross estimates the U.S. economy has slowed to about 1.5% growth but is not yet headed for recession.

“The thing is that fiscal stimulus that we had with the trillion-dollar deficit and the tax cuts so on, to my way of thinking they’re basically played out,” he said. “They need another trillion to do the same type of magic.”

On politics, Gross is betting President Donald Trump won’t be re-elected in 2020 — “I hope not,” he said — with the loss likely coming at the hands of Massachusetts Democrat Sen. Elizabeth Warren.

He also said the Federal Reserve can, and should, cut rates again at its meeting at the end of October.


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: jeff cox
Keywords: news, cnbc, companies, fund, onetime, invesco, gross, bill, pimco, stocks, managed, king, interview, picking, running, golf, investment, bond, hes


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Semis stocks are rallying, and technical analyst says charts point to more gains

Semis stocks are down Thursday but surging this week. The SMH semiconductor ETF has rallied 3% in the past five sessions, outpacing gains by the S&P 500. The top five stocks of the SOXX semiconductor ETF – Nvidia, Texas Instruments, Qualcomm, Broadcom and Intel – have had a mixed start to October. John Petrides, portfolio manager at Tocqueville Asset Management, also sees opportunity if the semis come under any pressure. Teradyne, Universal Display, KLA and Lam Research have led the ETF with gai


Semis stocks are down Thursday but surging this week.
The SMH semiconductor ETF has rallied 3% in the past five sessions, outpacing gains by the S&P 500.
The top five stocks of the SOXX semiconductor ETF – Nvidia, Texas Instruments, Qualcomm, Broadcom and Intel – have had a mixed start to October.
John Petrides, portfolio manager at Tocqueville Asset Management, also sees opportunity if the semis come under any pressure.
Teradyne, Universal Display, KLA and Lam Research have led the ETF with gai
Semis stocks are rallying, and technical analyst says charts point to more gains Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: keris lahiff
Keywords: news, cnbc, companies, technical, stocks, semis, point, index, charts, analyst, think, semiconductor, wait, things, etf, rallying, gains, petrides


Semis stocks are rallying, and technical analyst says charts point to more gains

Semis stocks are down Thursday but surging this week.

The SMH semiconductor ETF has rallied 3% in the past five sessions, outpacing gains by the S&P 500.

“It definitely has been the leadership. It has also been the sign of the risk-on trade for the market. I think that even if you get a little short-term pullback in the semiconductor stocks here, I’d be a buyer of it,” Craig Johnson, chief market technician at Piper Jaffray, said Wednesday on CNBC’s “Trading Nation.”

“When you look at this chart, the longer-term trend is still intact, you’re above a rising 50- and 200-day moving average, and when you start unpacking the index and looking at some of the best-performing names — the five largest names represent 40% of this index — and those are all charts that look like buys, so I would be buying any pullbacks in the semiconductor stocks,” Johnson said.

The top five stocks of the SOXX semiconductor ETF – Nvidia, Texas Instruments, Qualcomm, Broadcom and Intel – have had a mixed start to October. Nvidia has roared higher with 11% gains, Qualcomm and Broadcom are up more than 3%, and Texas Instruments and Intel have come in flat.

John Petrides, portfolio manager at Tocqueville Asset Management, also sees opportunity if the semis come under any pressure.

“I agree that you buy the dips for the semiconductors, I think there’s way too many crosscurrents right now, and I wouldn’t chase the rally that we saw last week. Let’s not forget the index is up about [52]% since December 2018. So, the group has performed quite strongly,” Petrides said during the same segment.

The SMH ETF is also up more than 40% for the year, its best since 2009. Teradyne, Universal Display, KLA and Lam Research have led the ETF with gains of more than 70%.

“The long-term thesis of the ‘internet of things’ is going to be a big driver for the semis, but I would wait for the pullback. Don’t forget semiconductors are commodities. They’re just shiny, flashy steel and oil stocks. When demand slows down these guys lose pricing and that does bad things to margins and this group sells off so I would be more opportunistic and wait for the sell-off,” Petrides said.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: keris lahiff
Keywords: news, cnbc, companies, technical, stocks, semis, point, index, charts, analyst, think, semiconductor, wait, things, etf, rallying, gains, petrides


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Stocks making the biggest moves after hours: E-Trade, AT&T, Intuitive Surgical & more

The online brokerage firm posted earnings of $1.08 per share on revenue of $767 million, while Wall Street expected earnings of $1.01 per share and revenue of $743 million. The company’s shares are down more than 25% year to date and reports fourth-quarter earnings on Oct. 22. Intuitive Surgical shares jumped nearly 4% after the company announced better-than-expected earnings for its third quarter. The robotic surgical device company reported earnings of $3.43 per share, far exceeding analyst ex


The online brokerage firm posted earnings of $1.08 per share on revenue of $767 million, while Wall Street expected earnings of $1.01 per share and revenue of $743 million.
The company’s shares are down more than 25% year to date and reports fourth-quarter earnings on Oct. 22.
Intuitive Surgical shares jumped nearly 4% after the company announced better-than-expected earnings for its third quarter.
The robotic surgical device company reported earnings of $3.43 per share, far exceeding analyst ex
Stocks making the biggest moves after hours: E-Trade, AT&T, Intuitive Surgical & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: ganesh setty
Keywords: news, cnbc, companies, hours, cents, shares, company, wall, att, etrade, revenue, quarter, making, billion, million, biggest, surgical, share, intuitive, earnings, stocks, moves


Stocks making the biggest moves after hours: E-Trade, AT&T, Intuitive Surgical & more

Check out the companies making headlines after the bell:

Shares of E-Trade whipsawed during extended trade Thursday, initially climbing 4% before settling more than 1% below its closing price following the company’s third-quarter earnings beat. The online brokerage firm posted earnings of $1.08 per share on revenue of $767 million, while Wall Street expected earnings of $1.01 per share and revenue of $743 million.

Shares of TD Ameritrade similarly dipped 1% in extended trading. Immediately after the market close, shares first briefly rose. The company’s shares are down more than 25% year to date and reports fourth-quarter earnings on Oct. 22.

AT&T shares rose 1% following a Wall Street Journal report that the company is in talks with Elliott Management to resolve the activist hedge fund’s campaign for change at the telecom and media giant. Elliott took a $3.2 billion stake in AT&T in September and said the company could be worth at least $60 per share if it trimmed unneeded assets.

Intuitive Surgical shares jumped nearly 4% after the company announced better-than-expected earnings for its third quarter. The robotic surgical device company reported earnings of $3.43 per share, far exceeding analyst expectations of $2.99 per share. Revenue came in at $1.13 billion, compared to the $1.06 billion projected by analysts, according to Refinitiv.

Atlassian shares dropped 6% after the bell before rising 2% above its closing price when the company improved its second-quarter outlook and reported better-than-expected earnings for its first quarter. The Australia-based software company projects revenue in the second quarter between $386 million and $390 million and adjusted earnings of approximately 27 cents per share, compared to Wall Street’s forecast of $382 million in revenue and earnings of 26 cents per share, according to Refinitiv consensus estimates.

For its first quarter, Atlassian posted an EPS of 28 cents on revenue of $363 million, exceeding analysts’ expectations of 24 cents per share and revenue of $352 million, according to Refinitiv.


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: ganesh setty
Keywords: news, cnbc, companies, hours, cents, shares, company, wall, att, etrade, revenue, quarter, making, billion, million, biggest, surgical, share, intuitive, earnings, stocks, moves


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Market pattern suggests stocks will rip on earnings as trade fears fade

Bespoke Investment Group’s Paul Hickey expects stocks to buck a bearish earnings season pattern that emerged earlier this year. Each time the backdrop supported upside, sell-offs ravaged the market due to the U.S.-China trade war, the firm’s co-founder said. “The rally was derailed not because of some weak earnings reports, but because President Trump issued tweets and suggesting … an escalation of the trade war.” “Normally when you see this weak analyst sentiment heading into earnings season,


Bespoke Investment Group’s Paul Hickey expects stocks to buck a bearish earnings season pattern that emerged earlier this year.
Each time the backdrop supported upside, sell-offs ravaged the market due to the U.S.-China trade war, the firm’s co-founder said.
“The rally was derailed not because of some weak earnings reports, but because President Trump issued tweets and suggesting … an escalation of the trade war.”
“Normally when you see this weak analyst sentiment heading into earnings season,
Market pattern suggests stocks will rip on earnings as trade fears fade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: stephanie landsman
Keywords: news, cnbc, companies, fade, pattern, analyst, rip, hickey, fears, suggests, stocks, market, weeks, weak, season, trade, earnings, war


Market pattern suggests stocks will rip on earnings as trade fears fade

Bespoke Investment Group’s Paul Hickey expects stocks to buck a bearish earnings season pattern that emerged earlier this year.

Each time the backdrop supported upside, sell-offs ravaged the market due to the U.S.-China trade war, the firm’s co-founder said.

“In the first say four weeks of both of those earnings seasons, the market did very well and was trading higher,” Hickey told CNBC’s “Trading Nation” on Wednesday. “The rally was derailed not because of some weak earnings reports, but because President Trump issued tweets and suggesting … an escalation of the trade war.”

Hickey tracks the trouble in a chart showing trade-related S&P 500 sell-offs during the past two earnings seasons.

But this earnings season, according to Hickey, is different because trade risks are fading.

“We have a temporary reprieve from the trade headlines here for the coming weeks,” said Hickey. “We had the constant back and forth and the phase one agreement. And, as light as you want to call it, we did get passed that big event, and the market has held up well.”

Since Friday’s announcement by President Donald Trump of a preliminary deal with Beijing, stocks have been inching closer to all-time highs set in July. The Dow and S&P 500 are on track to see their second positive week in a row.

Similar to the last two earnings cycles, Hickey noted that analyst sentiment surrounding earnings is bearish, a scenario that typically bodes well for stocks. Right now, he sees negative analyst revisions outnumbering positive ones by more than 2 to 1.

“Normally when you see this weak analyst sentiment heading into earnings season, it sets the bar low,” he said. “Then the companies do better and stocks go higher.”

Hickey contends the scenario is clearing the runway for gains as trade war fears move to the “back burner.”

“I don’t think we’ll hear much about the ongoing trade escalation with China until at least we get to the later stage of earnings season, if we see it at that point at all,” Hickey said.

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Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: stephanie landsman
Keywords: news, cnbc, companies, fade, pattern, analyst, rip, hickey, fears, suggests, stocks, market, weeks, weak, season, trade, earnings, war


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European stocks as surge as draft Brexit deal agreed

European stocks soared on Thursday morning after a draft Brexit deal was agreed between the U.K. and the European Union. The pan-European Stoxx 600 reversed early losses to jump 0.7% after British Prime Minister Boris Johnson tweeted that a “great new deal” had been reached, before European Commission President Jean-Claude Juncker confirmed the agreement. Weak U.S. retail sales data also weighed on stocks overnight, with an unexpected drop raising concerns about the state of the world’s largest


European stocks soared on Thursday morning after a draft Brexit deal was agreed between the U.K. and the European Union.
The pan-European Stoxx 600 reversed early losses to jump 0.7% after British Prime Minister Boris Johnson tweeted that a “great new deal” had been reached, before European Commission President Jean-Claude Juncker confirmed the agreement.
Weak U.S. retail sales data also weighed on stocks overnight, with an unexpected drop raising concerns about the state of the world’s largest
European stocks as surge as draft Brexit deal agreed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: elliot smith
Keywords: news, cnbc, companies, brexit, trade, european, deal, surge, draft, stocks, sales, retail, president, agreed, party, lawmakers


European stocks as surge as draft Brexit deal agreed

European stocks soared on Thursday morning after a draft Brexit deal was agreed between the U.K. and the European Union.

The pan-European Stoxx 600 reversed early losses to jump 0.7% after British Prime Minister Boris Johnson tweeted that a “great new deal” had been reached, before European Commission President Jean-Claude Juncker confirmed the agreement.

Banks led the charge with a 1.6% rise as all sectors except food and beverages entered positive territory. Sterling hit a five-month high of $1.2949 in the aftermath of the announcements.

The prospective deal will need approval from British lawmakers in parliament at the weekend, which could pose a further hurdle for Johnson, who does not hold a parliamentary majority and has struggled to win over opposition lawmakers in Westminster since taking leadership of the ruling Conservative Party in July.

The Democratic Unionist Party (DUP), a key ally of Johnson’s government, said in a statement Thursday that it could not approve the proposed customs and consent arrangements relating to Northern Ireland.

Shares in Asia Pacific were also mixed on Thursday, with the exception of Hong Kong’s Hang Seng index, which rose on the back of a strong session for property developer shares after leader Carrie Lam announced measures to ease a housing shortage and calm ongoing anti-government protests.

Weak U.S. retail sales data also weighed on stocks overnight, with an unexpected drop raising concerns about the state of the world’s largest economy.

Staying stateside, U.S. and Chinese trade negotiators are working on phase one of a trade deal text to be presented to presidents Donald Trump and Xi Jinping, according to U.S. Treasury Secretary Steven Mnuchin.

Back in Europe, the European Central Bank (ECB) plans to implement a substantial stimulus package in full despite disagreements within its Governing Council over the move being made public, according to French central bank president Francois Villeroy de Galhau. However, he added that a broader review of the bank’s policy framework is welcome.

On the data front, U.K. retail sales for September are expected at 9:30 a.m. London time.


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: elliot smith
Keywords: news, cnbc, companies, brexit, trade, european, deal, surge, draft, stocks, sales, retail, president, agreed, party, lawmakers


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Stocks making the biggest moves premarket: IBM, Morgan Stanley, Honeywell, Netflix & more

Check out the companies making headlines before the bell:Morgan Stanley – Morgan Stanley reported third-quarter profit of $1.27 per share, beating estimates by 16 cents a share. Honeywell – Honeywell beat estimates by 7 cents a share, with adjusted quarterly profit of $2.08 per share. Revenue fell short of Wall Street forecasts, however. Netflix – Netflix reported quarterly profit of $1.47 per share, compared to a consensus estimate of $1.04 a share. Revenue was in line with Wall Street forecast


Check out the companies making headlines before the bell:Morgan Stanley – Morgan Stanley reported third-quarter profit of $1.27 per share, beating estimates by 16 cents a share.
Honeywell – Honeywell beat estimates by 7 cents a share, with adjusted quarterly profit of $2.08 per share.
Revenue fell short of Wall Street forecasts, however.
Netflix – Netflix reported quarterly profit of $1.47 per share, compared to a consensus estimate of $1.04 a share.
Revenue was in line with Wall Street forecast
Stocks making the biggest moves premarket: IBM, Morgan Stanley, Honeywell, Netflix & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, ibm, sales, stanley, profit, wall, biggest, quarter, morgan, street, making, revenue, share, stocks, forecasts, premarket, cents, netflix, moves, honeywell, reported


Stocks making the biggest moves premarket: IBM, Morgan Stanley, Honeywell, Netflix & more

Check out the companies making headlines before the bell:

Morgan Stanley – Morgan Stanley reported third-quarter profit of $1.27 per share, beating estimates by 16 cents a share. Revenue also beat analysts’ forecasts. Chairman and CEO James Gorman said the quarter was a strong one despite a typical summer slowdown and volatile markets.

Honeywell – Honeywell beat estimates by 7 cents a share, with adjusted quarterly profit of $2.08 per share. Revenue fell short of Wall Street forecasts, however. Results were helped by profit margin expansion and 3% growth in organic sales. Honeywell also raised the lower end of its full-year 2019 earnings forecast, now forecasting adjusted earnings per share of $8.10 to $8.15 compared with the prior $7.95 to $8.15 a share estimate.

Netflix – Netflix reported quarterly profit of $1.47 per share, compared to a consensus estimate of $1.04 a share. Revenue was in line with Wall Street forecasts and Netflix saw an addition of 6.77 million paying subscribers during the quarter. The company warned, however, that increasing competition could weigh on subscriber growth during the remainder of the year.

IBM – The company earned an adjusted $2.68 per share for the third quarter, a penny a share above estimates. Revenue came in below analysts’ forecasts, however, with IBM reporting a fifth consecutive quarter of falling sales thanks to weakness in the company’s legacy businesses.

Ford – Ford announced a new public charging network for its electric vehicle customers and is also teaming with Amazon’s Home Services unit for the installation of various home charging options.

BellRing Brands – BellRing’s initial public offering priced at $14 per share, below the projected range of $16 to $19 per share. BellRing, maker of PowerBar branded snacks, is a spin-off from Post Holdings and will begin trading this morning on the New York Stock Exchange.

CSX – The company’s quarterly earnings came in 7 cents a share ahead of estimates, with profit of $1.08 per share. The railroad operator’s revenue was in line with Wall Street forecasts. CSX also saw lower shipment volumes

Tesla – Tesla received approval from Chinese regulators to begin production in that country. Tesla is in the process of building a $2 billion factory in Shanghai.

Unilever – Unilever reported weaker-than-expected third-quarter sales, with softer demand in India and China. Emerging markets account for about 60% of the consumer product maker’s business.

Taiwan Semiconductor – Taiwan Semi reported better-than-expected quarterly profit, with the chipmaker and Apple supplier seeing its net profit rise 13.5% from a year earlier.

Facebook – Facebook fell again in Interbrand’s annual Best Global Brands report, dropping to 14th place from 9th. Interbrand – a unit of ad giant Omnicom – said the estimated value of the Facebook brand fell 12% to $39.9 billion from a year earlier.

Alcoa – Alcoa is mulling up to $1 billion in asset sales as well as closing production facilities, as aluminum prices fall. The aluminum producer reported a loss of 44 cents per share for the third quarter, wider than the 33 cents a share that Wall Street was expecting. Revenue was essentially in line with expectations.

Apple – Apple’s Apple Pay service is being examined for antitrust concerns by European Union regulators, according to the Financial Times.


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, ibm, sales, stanley, profit, wall, biggest, quarter, morgan, street, making, revenue, share, stocks, forecasts, premarket, cents, netflix, moves, honeywell, reported


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