If you were under the impression that the stock market rally of the past week or so was getting a little long in the tooth, you were not alone: late-day selling in the regular session brought indexes to their lows for the day. The Dow slid -265 points, -0.74%, while the S&P 500 fell -0.51%. The Nasdaq managed to eke out the slightest of margins to the upside: +0.12 points, or +0.001%. And the small-cap Russell 2000 hit the skids among major indexes, -1.9%.Ford Motor Co. (F - Free Report) posted mixed results in its Q3 earnings report after the bell today: 51 cents per share beat the 29 cents analysts were looking for, but were down from the year-ago 65 cents per share. Revenues came in below expectations, to $32.2 billion from an anticipated $34.23 billion. Margins for the quarter reached 8.4%.
However, Ford not only raised guidance going forward but also is reinstating its dividend policy, giving out 10 cents per share as of Q4. These have helped the company — which has the F-150 Lightning EV in its future — bolster +4.3% gains on the news in late trading. It’s the sixth straight earnings beat, with a trailing 4-quarter average surprise of +364%.
eBay (EBAY - Free Report) beat on both top and bottom lines it its Q3 earnings report this afternoon, with earnings of 90 cents per share on $2.5 billion in revenues outpacing the 89 cents and $2.45 billion in sales expected. Active buyers missed estimates to 154 million in the quarter, and Gross Merchandise Value (GMV), while outpacing expectations to $19.5 billion, still represents a -10% drop year over year. Guidance was also lowered. The stock is down -5% after the bell.
Telemedicine major Teladoc Health (TDOC - Free Report) are down even further, -5.6% in the late session, even as the company posted a narrower-than-expected loss of -53 cents on a better-than-expected $522 million in revenues in its Q3. Gross Margins dipped slightly quarter over quarter, as subscriber access fees in its International market are falling a bit behind expectations. Teladoc was already -31% year to date.
The first take on Q3 GDP greets us tomorrow morning, along with another heavy stream of earnings reports and Weekly Jobless Claims. We feel the market took a breather today, perhaps booked a profit or two. A continued successful Q3 earnings season and economic print habitat ought to be good for growth going forward.
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If you were under the impression that the stock market rally of the past week or so was getting a little long in the tooth, you were not alone: late-day selling in the regular session brought indexes to their lows for the day. The Dow slid -265 points, -0.74%, while the S&P 500 fell -0.51%. The Nasdaq managed to eke out the slightest of margins to the upside: +0.12 points, or +0.001%. And the small-cap Russell 2000 hit the skids among major indexes, -1.9%.
Ford Motor Co. (F - Free Report) posted mixed results in its Q3 earnings report after the bell today: 51 cents per share beat the 29 cents analysts were looking for, but were down from the year-ago 65 cents per share. Revenues came in below expectations, to $32.2 billion from an anticipated $34.23 billion. Margins for the quarter reached 8.4%.
However, Ford not only raised guidance going forward but also is reinstating its dividend policy, giving out 10 cents per share as of Q4. These have helped the company — which has the F-150 Lightning EV in its future — bolster +4.3% gains on the news in late trading. It’s the sixth straight earnings beat, with a trailing 4-quarter average surprise of +364%.
eBay (EBAY - Free Report) beat on both top and bottom lines it its Q3 earnings report this afternoon, with earnings of 90 cents per share on $2.5 billion in revenues outpacing the 89 cents and $2.45 billion in sales expected. Active buyers missed estimates to 154 million in the quarter, and Gross Merchandise Value (GMV), while outpacing expectations to $19.5 billion, still represents a -10% drop year over year. Guidance was also lowered. The stock is down -5% after the bell.
Telemedicine major Teladoc Health (TDOC - Free Report) are down even further, -5.6% in the late session, even as the company posted a narrower-than-expected loss of -53 cents on a better-than-expected $522 million in revenues in its Q3. Gross Margins dipped slightly quarter over quarter, as subscriber access fees in its International market are falling a bit behind expectations. Teladoc was already -31% year to date.
The first take on Q3 GDP greets us tomorrow morning, along with another heavy stream of earnings reports and Weekly Jobless Claims. We feel the market took a breather today, perhaps booked a profit or two. A continued successful Q3 earnings season and economic print habitat ought to be good for growth going forward.
Questions or comments about this article and/or its author? Click here>>
Buy 5 Stocks BEFORE Election Day
Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins).
Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement.
They include a medical manufacturer that gained +11,000% in the last 15 years… a rental company absolutely crushing its sector… an energy powerhouse planning to grow its already large dividend by 25%... an aerospace and defense standout that just landed a potentially $80 billion contract… and a giant chipmaker building huge plants in the U.S.
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