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Equilibrium Descends on Mixed Market Indexes: AAPL, DIS & More
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Mixed results for market indexes at Hump Day’s close, with the Dow narrowly lower by 0.08% and the S&P 500 +0.77%. The Nasdaq, closing at its session highs, rose 2% or 232 points. It’s the first day in the past three the tech-heavy index has finished in the green, as rotations out of big tech gains followed the Pfizer (PFE - Free Report) Covid-19 vaccine news reported Monday morning. Tech as an industry finished 2.4% higher on the day.
Financials pulled back, but only toward more reasonable valuations. AmEx (AXP - Free Report) , for instance, was down 4% on the day, but this was after a big jump earlier in the week on the cyclical rotation. Same goes for beauty products retailer Ulta (ULTA - Free Report) , down 3.8%, and Disney (DIS - Free Report) , down 3%.
Disney also reports fiscal Q4 earnings reports after the bell tomorrow. Current Zacks consensus estimates are for a loss of 68 cents per share for the quarter, +$1.62 per share for the full year. The entertainment behemoth has missed expectations in 4 of the trailing 12 quarters.
Apple (AAPL - Free Report) rose 3% in regular trading after being hit by the tech sell-off Monday. The company announced its ARM-based M1 chip for its Mac products, assisting users in handling more tasks without sapping as much power from the laptops. Mac sales in the previous quarter reached $9 billion, roughly a third of what quarterly iPhone sales amount to. Still, the equilibrium from a big rush out of tech earlier this week is in play here.
Moderna (MRNA - Free Report) announced it will be able to take an interim peek into its phase-3 trial for the company’s Covid-19 vaccine candidate earlier than initially expected. The actual results won’t be released for a few days, but the increase in number of cases identified moves this look closer. The study remains blinded to placebo vs. vaccine recipients.
In all, it’s a mere recalibration of the scales in recent trading. No major economic data nor marquee earnings releases put a thumb on those scales today, though tomorrow morning the next installment of jobless claims numbers hit the tape. Numbers have been steadily coming down over the past dozen weeks or so, though look to have plateaued above the 700K mark. We’ll see if this narrative begins to change one way or the other.
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Equilibrium Descends on Mixed Market Indexes: AAPL, DIS & More
Mixed results for market indexes at Hump Day’s close, with the Dow narrowly lower by 0.08% and the S&P 500 +0.77%. The Nasdaq, closing at its session highs, rose 2% or 232 points. It’s the first day in the past three the tech-heavy index has finished in the green, as rotations out of big tech gains followed the Pfizer (PFE - Free Report) Covid-19 vaccine news reported Monday morning. Tech as an industry finished 2.4% higher on the day.
Financials pulled back, but only toward more reasonable valuations. AmEx (AXP - Free Report) , for instance, was down 4% on the day, but this was after a big jump earlier in the week on the cyclical rotation. Same goes for beauty products retailer Ulta (ULTA - Free Report) , down 3.8%, and Disney (DIS - Free Report) , down 3%.
Disney also reports fiscal Q4 earnings reports after the bell tomorrow. Current Zacks consensus estimates are for a loss of 68 cents per share for the quarter, +$1.62 per share for the full year. The entertainment behemoth has missed expectations in 4 of the trailing 12 quarters.
Apple (AAPL - Free Report) rose 3% in regular trading after being hit by the tech sell-off Monday. The company announced its ARM-based M1 chip for its Mac products, assisting users in handling more tasks without sapping as much power from the laptops. Mac sales in the previous quarter reached $9 billion, roughly a third of what quarterly iPhone sales amount to. Still, the equilibrium from a big rush out of tech earlier this week is in play here.
Moderna (MRNA - Free Report) announced it will be able to take an interim peek into its phase-3 trial for the company’s Covid-19 vaccine candidate earlier than initially expected. The actual results won’t be released for a few days, but the increase in number of cases identified moves this look closer. The study remains blinded to placebo vs. vaccine recipients.
In all, it’s a mere recalibration of the scales in recent trading. No major economic data nor marquee earnings releases put a thumb on those scales today, though tomorrow morning the next installment of jobless claims numbers hit the tape. Numbers have been steadily coming down over the past dozen weeks or so, though look to have plateaued above the 700K mark. We’ll see if this narrative begins to change one way or the other.
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5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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