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Stocks Attempt Rally, IBM Buys Red Hat, & Q3 Earnings Season Stays Hot
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On today’s episode of Free Lunch, Ryan McQueeney checks in with the market’s major indexes as Wall Street hopes for a rally from the recent extended selloff. He also recaps a few headlines, including IBM’s acquisition of Red Hat and the morning’s top earnings news.
Free Lunch is presented by Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.
U.S. stocks attempted a strong rally this morning, but by early afternoon hours, major indexes were flirting with their Friday closes as a rebound from technology stocks faded.
Nevertheless, Ryan checked in with these major indexes to study the extent of the damage done by recent volatility. The host takes a look at the year-to-date charts of the S&P 500, the Dow, and the Nasdaq, highlighting key indicators and potential bottoms.
Before that, Ryan recaps the morning’s top headlines, starting with IBM’s (IBM - Free Report) acquisition of Red Hat . The $34 billion deal will see IBM pay a 63% premium for the open source pioneer, but that price tag might be worth it if Big Blue can lock down the top hybrid cloud provider spot it desires.
Elsewhere, specialty chipmaker ON Semiconductor (ON - Free Report) reported earnings before the bell, notching profits of $0.57 per share which beat the Zacks Consensus Estimate of $0.50. ON Semiconductor also topped revenue estimates, inspiring a much-needed rally for the stock in morning trading today.
Investors will now look forward to fresh earnings from Mondelez International (MDLZ - Free Report) after the bell today and pre-market earnings from Pfizer (PFE - Free Report) tomorrow.
Mondelez shares have pulled back amid recent market-wide selling, and analysts are projecting that the snack behemoth will report a sales decline. However, earnings growth and exposure to a more-defensive business could help the stock gain favor if its report impresses.
Similarly, Pfizer might benefit from its more defensive status, as the stock is down just 3% in the past month. Analysts are looking for earnings growth of 13% and revenue growth of 1%, according to our latest Zacks Consensus Estimates.
Make sure to check out today’s show to hear more!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Stocks Attempt Rally, IBM Buys Red Hat, & Q3 Earnings Season Stays Hot
On today’s episode of Free Lunch, Ryan McQueeney checks in with the market’s major indexes as Wall Street hopes for a rally from the recent extended selloff. He also recaps a few headlines, including IBM’s acquisition of Red Hat and the morning’s top earnings news.
Want more video content from Zacks? Subscribe to Zacks Investment News now!
Free Lunch is presented by Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.
U.S. stocks attempted a strong rally this morning, but by early afternoon hours, major indexes were flirting with their Friday closes as a rebound from technology stocks faded.
Nevertheless, Ryan checked in with these major indexes to study the extent of the damage done by recent volatility. The host takes a look at the year-to-date charts of the S&P 500, the Dow, and the Nasdaq, highlighting key indicators and potential bottoms.
Before that, Ryan recaps the morning’s top headlines, starting with IBM’s (IBM - Free Report) acquisition of Red Hat . The $34 billion deal will see IBM pay a 63% premium for the open source pioneer, but that price tag might be worth it if Big Blue can lock down the top hybrid cloud provider spot it desires.
Elsewhere, specialty chipmaker ON Semiconductor (ON - Free Report) reported earnings before the bell, notching profits of $0.57 per share which beat the Zacks Consensus Estimate of $0.50. ON Semiconductor also topped revenue estimates, inspiring a much-needed rally for the stock in morning trading today.
Investors will now look forward to fresh earnings from Mondelez International (MDLZ - Free Report) after the bell today and pre-market earnings from Pfizer (PFE - Free Report) tomorrow.
Mondelez shares have pulled back amid recent market-wide selling, and analysts are projecting that the snack behemoth will report a sales decline. However, earnings growth and exposure to a more-defensive business could help the stock gain favor if its report impresses.
Similarly, Pfizer might benefit from its more defensive status, as the stock is down just 3% in the past month. Analysts are looking for earnings growth of 13% and revenue growth of 1%, according to our latest Zacks Consensus Estimates.
Make sure to check out today’s show to hear more!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>