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After-Hours Selling to Challenge Winning Streak Wednesday
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Markets continue to pull further away from late October lows (which, in the case of the small-cap Russell 2000, established the lows of the year) while keeping its winning streaks intact, including 8-straight trading days higher for the blue-chip Dow, which gained +0.17% on the session. The S&P 500 moved ahead even more, +0.28%, while the Nasdaq once again won the day: +121 points, +0.90%. Investors do seem to be quitting the Russell of late, -0.28% and -1.00% from a month ago.
Consumer Credit bounced back in September, as reported this afternoon, to +$9.06 billion from a drastic (and downwardly revised) -$15.7 billion the previous month, which was the biggest drop since the initial months of the pandemic. This headline came up somewhat short of expectations between $9.5-11.7 billion. Revolving credit, such as credit cards, grew +2.9% on an annual basis.
After today’s closing bell, Gilead Sciences (GILD - Free Report) outperformed expectations on both top and bottom lines in its Q3 report, posting $2.29 per share versus expectations of $1.91, with revenues of $7.05 billion outpacing the $6.77 billion in the Zacks consensus. Full-year earnings guidance of between $6.65-6.85 per share easily beat the $6.64 per share analysts had predicted. Yet shares are swinging into the red after initially gaining +2% on the news.
eBay (EBAY - Free Report) beat estimates on its bottom line by 3 cents to $1.03 per share this afternoon, on $2.50 billion in sales which was perfectly in line with consensus estimates. The e-commerce giant has no earnings misses for the past decade or more, though this quarter did depict challenges, including higher operating expenses and trimmer margins. Shares are selling off -5.8% in late trading, further pulling the stock into the red for the year.
EV upstart Rivian (RIVN - Free Report) put up mixed results in its Q3 report after today’s close, posting a slimmer-than-expected loss of -$1.19 per share versus -$1.36 anticipated, and -$1.57 per share in the year-ago quarter. Revenues were a tad beneath estimates — $1.34 billion versus $1.36 billion forecast. Loss per vehicle has come down more than analysts had been looking for, and the company is now free to make EV delivery trucks for more companies than just Amazon (AMZN - Free Report) , which holds some Rivian share. The stock is up +2% in after-market trading. Questions or comments about this article and/or author? Click here>>
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After-Hours Selling to Challenge Winning Streak Wednesday
Markets continue to pull further away from late October lows (which, in the case of the small-cap Russell 2000, established the lows of the year) while keeping its winning streaks intact, including 8-straight trading days higher for the blue-chip Dow, which gained +0.17% on the session. The S&P 500 moved ahead even more, +0.28%, while the Nasdaq once again won the day: +121 points, +0.90%. Investors do seem to be quitting the Russell of late, -0.28% and -1.00% from a month ago.
Consumer Credit bounced back in September, as reported this afternoon, to +$9.06 billion from a drastic (and downwardly revised) -$15.7 billion the previous month, which was the biggest drop since the initial months of the pandemic. This headline came up somewhat short of expectations between $9.5-11.7 billion. Revolving credit, such as credit cards, grew +2.9% on an annual basis.
After today’s closing bell, Gilead Sciences (GILD - Free Report) outperformed expectations on both top and bottom lines in its Q3 report, posting $2.29 per share versus expectations of $1.91, with revenues of $7.05 billion outpacing the $6.77 billion in the Zacks consensus. Full-year earnings guidance of between $6.65-6.85 per share easily beat the $6.64 per share analysts had predicted. Yet shares are swinging into the red after initially gaining +2% on the news.
eBay (EBAY - Free Report) beat estimates on its bottom line by 3 cents to $1.03 per share this afternoon, on $2.50 billion in sales which was perfectly in line with consensus estimates. The e-commerce giant has no earnings misses for the past decade or more, though this quarter did depict challenges, including higher operating expenses and trimmer margins. Shares are selling off -5.8% in late trading, further pulling the stock into the red for the year.
EV upstart Rivian (RIVN - Free Report) put up mixed results in its Q3 report after today’s close, posting a slimmer-than-expected loss of -$1.19 per share versus -$1.36 anticipated, and -$1.57 per share in the year-ago quarter. Revenues were a tad beneath estimates — $1.34 billion versus $1.36 billion forecast. Loss per vehicle has come down more than analysts had been looking for, and the company is now free to make EV delivery trucks for more companies than just Amazon (AMZN - Free Report) , which holds some Rivian share. The stock is up +2% in after-market trading.
Questions or comments about this article and/or author? Click here>>