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US STOCKS: Earnings Giveth and Takes Away

US STOCKS
USEquitiesNorth AmericaBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Stocks are trading moderately weaker ahead midday, off session lows on relatively narrow ranges despite some sharp moves in individual stocks following earning's announcements. Currently, the Dow trades down 81.93 points (-0.19%) at 42846.1, S&P E-Minis down 17 points (-0.29%) at 5878.75, Nasdaq down 29.6 points (-0.2%) at 18508.46.
  • Industrials and Materials sectors underperformed in the first half, capital goods weighing on the former while construction related shares weighed on the Materials sector.
  • Laggers of note included: Genuine Parts -17.89% after missing earnings expectations citing weaker European and industrial sales; GE -9.39% after beating earnings slightly, but missing revenue; Nucor -8.10% tied to impairment charges on steel & materials sectors; Pulte Group -6.16%, beat estimates but gross margins narrowed.
  • On the flipside, Consumer Staples and Energy sectors outperformed in the first half - food and tobacco shares supporting the former while equipment and services shares tempered Energy sector gains as rising crude prices (WTI +1.34 at 71.90) buoyed petrochemical stocks: paring Monday gains, Schlumberger -0.80%, while Baker Hughes trades -0.41%.
  • Highlight gainers included Philip Morris +8.07% after reporting better than expected earnings as smokeless products accelerate sales, General Motors +7.64 after strong earnings and raised guidance, Quest Diagnostics +5.57%, Charter Communications +4.35%.
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  • Stocks are trading moderately weaker ahead midday, off session lows on relatively narrow ranges despite some sharp moves in individual stocks following earning's announcements. Currently, the Dow trades down 81.93 points (-0.19%) at 42846.1, S&P E-Minis down 17 points (-0.29%) at 5878.75, Nasdaq down 29.6 points (-0.2%) at 18508.46.
  • Industrials and Materials sectors underperformed in the first half, capital goods weighing on the former while construction related shares weighed on the Materials sector.
  • Laggers of note included: Genuine Parts -17.89% after missing earnings expectations citing weaker European and industrial sales; GE -9.39% after beating earnings slightly, but missing revenue; Nucor -8.10% tied to impairment charges on steel & materials sectors; Pulte Group -6.16%, beat estimates but gross margins narrowed.
  • On the flipside, Consumer Staples and Energy sectors outperformed in the first half - food and tobacco shares supporting the former while equipment and services shares tempered Energy sector gains as rising crude prices (WTI +1.34 at 71.90) buoyed petrochemical stocks: paring Monday gains, Schlumberger -0.80%, while Baker Hughes trades -0.41%.
  • Highlight gainers included Philip Morris +8.07% after reporting better than expected earnings as smokeless products accelerate sales, General Motors +7.64 after strong earnings and raised guidance, Quest Diagnostics +5.57%, Charter Communications +4.35%.