“Earnings are Back” – Vista Partners Daily Market Recap 4/30/2019
Earnings once again took the spotlight during Tuesday’s session, while stocks ended the session mixed. The S&P 500 started in the red and then climbed to break even. It ended the day up 0.10% (2.80 points). The Nasdaq, on the other hand, was never able to crack the barrier today and it ended down 0.81% (66.47 points). The Dow wavered some today, but still managed to be up 0.15% (38.52 points) by the time trade ended. Most components of the Dow were up today, although some did see losses. McDonalds (MCD) reported earnings today of $1.72 which missed estimates by about six cents. The company ended the day with gains of 0.23%. Also reporting before the market opened this morning was pharmaceutical giant Merck (MRK). They managed to beat estimates with earnings of $1.22. Buoyed by this positive report, the company rose $2.51 for the session. The third Dow Jones component reporting was Pfizer (PFE). They beat estimates of $0.78, reporting actual earnings per share of $0.85. Apple (AAPL) will report later this evening. Atossa Genetics (ATOS) rose today. It closed out the session up 1.35%. Alphabet (GOOG), Google’s parent company, also reported today. Unfortunately, the tech giant missed estimates for their earnings. The company pointed to a decrease in ad growth as a major reason for missing the mark. It’s loss dragged down tech stocks as it tumbled 7.7%. Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. Stay Informed! Stay Competitive! Sign Up to receive FREE email updates here!