Breaking News
0

Stock Market News For Apr 24, 2019

By Zacks Investment ResearchStock MarketsApr 23, 2019 09:54PM ET
www.investing.com/analysis/stock-market-news-for-apr-24-2019-200410446
Stock Market News For Apr 24, 2019
By Zacks Investment Research   |  Apr 23, 2019 09:54PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Wall Street closed sharply higher on Tuesday buoyed by strong first-quarter 2019 earnings results. The S&P 500 and Nasdaq Composite reached new highs while the Dow remained at a striking distance from an all-time peak. Moreover, crude oil prices moved up further after reaching a 6-month high on Apr 22.

The Dow Jones Industrial Average (DJI) closed at 26,656.39, gaining 0.6% or 145.34 points. The S&P 500 Index (INX) rose 0.9% to close at 2,933.68. The Nasdaq Composite Index (IXIC) closed at 8,120.82, increasing 1.3% or 105.56 points. A total of 6.75 billion shares were traded on Tuesday, higher than the last 20-session average of 6.64 billion shares. Advancers outnumbered decliners on the NYSE by 2.91-to-1 ratio. On the Nasdaq, advancers had an edge over decliners by 2.82-to-1 ratio. The CBOE VIX decreased 1.1% to close at 12.28.

How Did the Benchmarks Perform?

The Dow ended in positive territory with 22 stocks of the 30-stock index finishing in the green while eight ended in the red. Theblue-chip index is just 1.1% away from its all-time high recorded on Oct 3, 2018. The tech-laden Nasdaq Composite also finished in the green exceeding its previous all-time high recorded on Aug 29, 2018.

The S&P 500 closed in the green exceeding its previous all-time high recorded on Sep 20, 2018. The Health Care Select Sector SPDR (XLV) and Communication ServicesSelect Sector SPDR (XLC) surged 1.6% and 1.3%, respectively. Notably, ten out of eleven sectors of the benchmark index closed in the green while one finished in the red.

Robust First-Quarter Earnings Results

On Apr 23, several large corporates released impressive earnings results for the first quarter of 2019.

Twitter Inc. (NYSE:TWTR) reported first-quarter 2019 non-GAAP earnings of $0.37 per share.Revenues increased 18% year over year to $787 million.The Zacks Consensus Estimate for earnings and revenues were pegged at $0.15 and $775 million, respectively. Average monetizable daily active users were 134 million in the reported quarter compared with 120 million in the year-ago quarter and 126 million in the previous quarter. (Read More)

The Coca-Cola Co.’s (NYSE:KO) first-quarter 2019 adjusted earnings of $0.48 per share beat the Zacks Consensus Estimate of $0.46.Revenues of $8,020 million surpassed the Zacks Consensus Estimate of $7,890 million. (Read More)

Lockheed Martin Corp. (NYSE:LMT) reported first-quarter 2019 earnings of $5.99 per share, surpassing the Zacks Consensus Estimate of $4.29. Net sales amounted to $14.34 billion, which outshined the Zacks Consensus Estimate of $12.65 billion. (Read More)

Consequently, shares of Twitter, The Coca-Cola and Lockheed Martin surged 15.6%, 1.7% and 5.7%, respectively. All three stocks carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Crude Oil Prices Northbound

On Apr 22, the U.S. government said that the State Department will withdraw the waivers granted to eight countries to import crude oil or condensate from Iran effective May 2.Following the news, boththe U.S. benchmark West Texas Intermediate (WTI) crude and the global benchmark, Brent Crude jumped to a 6-month high. On Apr 23, WTI crude futures for June delivery surged 1.1% or $0.75 to close at $66.30. Brent Crude increased 0.6% or $0.47 to end at $74.51.

Economic Data

The Department of Commerce reported that new home sales increased 4.5% in March to a seasonally adjusted annual rate of 692,000, exceeding the consensus estimate of 645,000. February’s figure revised downward to 662,000 from 667,000 reported earlier.

Stocks That Made Headline

Canadian Pacific's Shares Down on Q1 Earnings Miss

Canadian Pacific Railway Ltd. (NYSE:CP) reported lower-than-expected earnings but better-than-expected revenues in the first quarter of 2019. (Read More)

Hawaiian Holdings Q1 Earnings Top, Revenues Miss Mark

Hawaiian Holdings Inc.’s (NASDAQ:HA) first-quarter 2019 earnings (excluding 8 cents from non-recurring items) of 67 cents outpaced the Zacks Consensus Estimate by a penny. (Read More)

Will you retire a millionaire?

One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”

Click to get it free >>



Hawaiian Holdings, Inc. (HA): Free Stock Analysis Report

Canadian Pacific Railway Limited (CP): Free Stock Analysis Report

Twitter, Inc. (TWTR): Free Stock Analysis Report

Lockheed Martin Corporation (LMT): Free Stock Analysis Report

Coca-Cola Company (The) (KO): Free Stock Analysis Report

Original post

Zacks Investment Research
Stock Market News For Apr 24, 2019
 

Related Articles

Stock Market News For Apr 24, 2019

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email