Dow Jones Leads Stock Market On Boeing’s Earnings

The major stock indexes were mixed Wednesday in today’s stock market action. The Dow Jones industrial average rallied early after strong earnings results from Boeing (BA). Top growth stock Lululemon (LULU) advanced 1% after an analyst upgrade. (For updates on this story and other market coverage, visit the Stock Market Today.)


The Dow Jones industrials gave back most of its early gains, holding just above the break-even line as it looks to rebound from its long-term 200-day moving average. The tech-heavy Nasdaq composite narrowed its early loss to 0.3%, while the S&P 500 dropped 0.2%.

Stock Market Earnings: Dow Jones Stock Boeing Soars

Among companies reporting earnings, Dow Jones stock Boeing soared 3% after reporting strong earnings results and raising its full-year earnings guidance. On Tuesday, the stock triggered the 7%-8% loss-cutting sell signal from a 374.58 buy point, according to MarketSmith chart analysis.

Meanwhile, fellow blue chip and Leaderboard stock McDonald’s (MCD) followed up Tuesday’s breakout with a 1% fall. The stock is still above a saucer with handle’s 172.10 buy point. Early Tuesday, the fast-food restaurant chain reported strong quarterly results, sparking a 6.3% advance in heavy volume. The buy range tops out at 180.71.

After the stock market close Tuesday, chipmaker Texas Instruments (TXN) warned of slowing demand for its products and guided analysts lower for the current quarter. Shares dropped 4% and are about 20% off their 52-week high.

Edwards Lifesciences (EW) reported mixed earnings results, sending up, then down 1% in morning trade. Shares gave up their 50-day moving average line and are testing their long-term 200-day line. Rival and IBD 50 stock Boston Scientific (BSX) rose 1% despite missing its revenue estimates and lowering its full-year revenue guidance.

After the stock market close Wednesday, electric automaker Tesla (TSLA) and Microsoft (MSFT) will announce their quarterly results. Tesla is expected to lose 53 cents per share with revenues of $5.67 billion. Tesla jumped 12% Tuesday.

Microsoft is expected to report EPS of 96 cents on revenue of $27.73 billion. Shares are below their 50-day line.

Meanwhile, O’Reilly Automotive (ORLY) will report its earnings results late Wednesday, as the stock hangs within striking distance of a buy point. Analysts expect the auto parts retailer to earn $4.30 per share on revenues of $2.495 billion. Shares are at the 50-day line, just 3% away from a 351.75 flat-base entry.

IBD 50 Stocks: Lululemon Upgraded

Among the leading growth stocks, Lululemon led the gainers with a 1% rise. Canaccord Genuity upgraded the stock from hold to buy. The top retail stock is trying to rebound from its recent lows. On Tuesday, the stock fell as much as 19.2% from its 52-week high. Shares are below the 50-day line.

On the downside, Advanced Micro Devices (AMD) dropped 4% and is almost 30% off its 52-week high. The stock is well below its 50-day ahead of the company’s earning results after the stock market close.


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Originally posted 2019-09-19 23:23:29.


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