Free Trial

Equities Roundup: Weaker Bank Shares Temper Earnings Related Gains

US STOCKS
  • Stocks making decent gains following a wide array of positive Q4 earnings announcements (*) this morning. Current index levels off highs as bank shares come under pressure: PacWest Bancorp* -10.15% after missing Q4 earnings est (-$0.31 EPS vs. $0.06 est), Zion -1.83, US Bancorp -0.86%,
  • Currently S&P E-Mini futures are up 23.25 points (0.55%) at 4265.75, Nasdaq up 93.2 points (0.7%) at 13111.77, DJIA up 204.69 points (0.62%) at 33143.15.
  • Leaders: Utilities and Communication Services sectors outperformed, independent power and electricity utilities supporting the former: NextEra Energy* +5.4% ($0.94 EPS vs. $0.89 est), Edison Int +3.35%, AES +3.5. Telecom services shares buoyed Communication Services sector: Verizon* +8.75% ($1.22 EPS vs. $1.18 est), AT&T +3.55%, T-Mobil +2.25%.
  • Laggers: Energy and Information Technology sectors underperformed in the first half, oil and gas shares weaker as crude traded lower (WTI -2.33 at 83.16): Haliburton* -3.05% ($0.79 EPS vs. $0.77 est), Schlumberger -2.06%, while Hess Energy trades -1.72% the day after Chevron announced $53B purchase of Hess. Hardware makers weighed on IT sector: Corning* -2.86% (-$0.45 EPS vs. $0.47 est), Zebra Tech -.62%, Apple -0.32%.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.