Stock Market, Dow Jones Surge Higher On Earnings

The major stock indexes surged higher Thursday in today’s stock market action. The Dow Jones industrial average advanced nearly 300 points. Top chip stock Advanced Micro Devices (AMD) crashed over 12% on weak revenue. After the stock market close, tech leaders Alphabet (GOOGL) and (AMZN) will report their earnings results. (For updates on this story and other market coverage, visit the Stock Market Today.)


The Dow Jones industrials rose 1% while the S&P 500 moved up 1.3%. The tech-heavy Nasdaq soared 2.2% after Thursday’s 4.4% decline.

Stock Market Earnings: AMD Plunges

Among companies reporting earnings, Advanced Micro Devices crashed 12% after missing revenue estimates and providing weak sales guidance. Shares are over 40% off their 52-week high.

Meanwhile, Twitter (TWTR) jumped 21% despite weaker-than-expected user levels. The social media company’s earnings and sales figures topped estimates. After falling as much as 45% from its 52-week high on Oct. 11, shares are trying to rebound.

Dow Jones Stock Microsoft Rises

After the stock market close Wednesday, Dow Jones stock Microsoft (MSFT) beat the Street’s top- and bottom-lines estimates, sparking a 6% gain. Shares remain below their 50-day line.

Electric-auto maker Tesla (TSLA) accelerated 7% to the upside after crushing estimates and showing a profit in the most recent quarter. Shares are battling to regain their long-term 200-day moving average line.

Meanwhile, O’Reilly Automotive (ORLY) guided Q4 earnings low after reporting mixed Q3 results. The auto parts retailer reversed from early losses to rise 2.5% in morning trade. Shares gave up their 50-day support level in Wednesday’s sell-off. According to MarketSmith chart analysis, the stock is forming a flat base with a 351.75 buy point.

Alphabet, Amazon To Report After Stock Market Close

After the stock market close Thursday, FANG stocks Alphabet and will report their earnings results. Google-parent Alphabet is expected to earn $10.54 per share on revenue of $27.249 billion. Shares are trading about 18% off their 52-week high and below their 200-day line.

E-commerce giant and Leaderboard stock Amazon is estimated to earn $3.29 per share with revenue of $57.106 billion. Amazon stock is trading at its long-term 200-day moving average line. Shares rose 4% Thursday, reclaiming a large portion of Wednesday’s near-6% fall.

IBD 50 Stocks: WWE Struggles

Among the leading growth stocks, World Wrestling Entertainment (WWE) reversed from early gains to trade unchanged. The company missed its revenue targets. Shares are about 20% off their 52-week high.

Meanwhile, HealthEquity (HQY) led the gainers with a near-4% rise. The HSA manager leader hit a new recent low Wednesday, as a new base formation looks to take shape.


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Originally posted 2019-09-19 23:23:33.


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