| 2016-10-18 16:20:50|
NFLX, UNH… 16:20 10/18 10/18/16
On The Fly: Top stock stories for Tuesday
Stocks opened in positive territory and remained there throughout the day amid optimism around some of last night's and this morning's quarterly earnings reports. Oil prices also moved higher and retook the $50 per barrel level. Investors remain on earnings watch for the next round coming after the close and before tomorrow's open. ECONOMIC NEWS: In the U.S., the consumer price index rose 0.3% in September, matching expectations, while the core CPI excluding food and energy components was up 0.1%, versus expectations for a core CPI increase of 0.2%. The National Association of Home Builders' sentiment index dipped 2 points to 63 in October, as expected. In Europe, the U.K. consumer price index rose 1% in September, hitting its highest level since November 2014. COMPANY NEWS: Shares of Netflix (NFLX) jumped 19% after the company reported third quarter revenue and profit that beat expectations and added over 50% more subscribers than expected as original shows such as "Stranger Things" and "Narcos" drew international viewers and kept domestic users despite a recent price increase... Also higher after earnings was UnitedHealth (UNH), which advanced nearly 7% after the company announced better than expected revenue and profits and raised its full year outlook... Conversely, shares of IBM (IBM) dropped 2.6% despite posting better than expected sales on cloud and analytics growth... Goldman Sachs' (GS) was the latest big bank to beat expectations, as the bank's commitment to fixed income trading paid off in the third quarter, with revenue from the business surging 49%. Shares of Goldman Sachs were rose 2.15% after the quarterly results announcement. MAJOR MOVERS: Among the notable gainers was Del Taco Restaurants (TACO), which advanced 8.8% after the company reported better than expected third quarter earnings and revenue. Also higher after earnings was Domino's Pizza (DPZ), which gained 4.9% after the company reported a 25% jump in profit, helped by strong sales and an expanding number of stores. Among the noteworthy losers was Badger Meter (BMI), which slipped 7% after the company reported lower than expected earnings and revenue for the quarter. Also lower after earnings was Johnson & Johnson (JNJ), which slid 2.6% despite announcing slightly better than expected quarterly results and boosting its full-year outlook. INDEXES: The Dow rose 75.54, or 0.42%, to 18,161.94, the Nasdaq gained 44.01, or 0.85%, to 5,243.84, and the S&P 500 advanced 13.10, or 0.62%, to 2,139.60.