Today’s Stock Market Gains: Netflix Earnings On Tap

The major stock indexes rallied nicely in today’s stock market after a number of strong corporate earnings results. Wall Street banks Goldman Sachs (GS) and Morgan Stanley (MS) released their earnings results before the stock market open. Meanwhile, IBD 50 stock Netflix (NFLX) will announce its Q3 earnings results after the stock market close. (For updates on this story and other market coverage, visit the Stock Market Today.)


The Nasdaq led the major stock indexes higher with a 1.2% gain in early morning trade. The S&P 500 and the Dow Jones industrial average rose about 1% apiece.

Earnings: Domino’s Pizza, Goldman

Among companies reporting earnings, Domino’s Pizza (DPZ) declined nearly 3% after its Q3 revenue and same-store sales missed estimates before the stock market open Tuesday. The pizza delivery service had been shaping a flat base with a 305.44 buy point — according to MarketSmith chart analysis — but Tuesday’s action destroys that pattern. Shares are nearing their multimonth lows set back in late July, at 253.64.

Goldman Sachs moved up 1% after reporting better-than-expected Q3 earnings results early Thursday. Goldman Sachs stock is rising for a third straight session after setting a fresh 52-week low on Oct. 11.

Meanwhile, Morgan Stanley advanced over 3% on strong Q3 results, rebounding from a new 52-week low set on Oct. 12. Shares remain well below their 50- and 200-day moving average lines amid the stock’s correction that began in mid-March.

Dow stock UnitedHealth (UNH) regained its 50-day moving average line after beating the Street’s earnings estimates. The stock gained 3% and is just 1% off its 52-week high.

Netflix To Report After The Stock Market Close

FANG stock Netflix advanced nearly 2% ahead of its Q3 earnings results after the closing bell. A pair of analysts turned cautious on Monday, cutting their price target on the video-streaming platform. Analysts expect the company to earn 68 cents per share on revenue of $4.01 billion.

Meanwhile, Dow giant IBM (IBM) will also report after the close Tuesday. Last week the stock broke below the 50-day moving average line and neared its 52-week low. Analysts expect EPS of $3.40 on revenue of $19.1 billion.

IBD 50 Stocks: Cybersecurity Leader Palo Alto Falls

Boston Scientific (BSX) jumped 3% after Barclays initiated coverage on the stock with an overweight rating and a 43 price target. Shares are finding support at their 10-week moving average line while the relative strength line is hitting a new high.

On the downside, Palo Alto Networks (PANW) dropped almost 3% after the company reaffirmed its fiscal-Q1 guidance. Shares are nearing the 200-day moving average line after triggering a sell signal from a flat base’s 219.48 entry.


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Originally posted 2019-09-19 23:22:56.


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