On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains breaks down some of Tuesday’s major Q3 earnings results from giants such as JPMorgan Chase (JPM - Free Report) and UnitedHealth (UNH - Free Report) . We then take a look at what to expect from streaming TV powerhouse Netflix’s (NFLX - Free Report) third quarter financial results on Wednesday, before we close with why Lululemon LULU is a Zacks Rank #1 (Strong Buy) stock right now.
All three major U.S. indexes jumped over 1% through morning trading Tuesday after Wall Street seemed pleased enough with some of the early Q3 earnings results. JPMorgan Chase, Wells Fargo (WFC - Free Report) , and Goldman Sachs (GS - Free Report) all posted their earnings, with shares of JPM up nearly 4%.
Meanwhile, UnitedHealth stock soared roughly 8% after it lifted its fiscal year profit guidance. The move helped lift the struggling insurance and healthcare powerhouse, which has fallen in 2019, along with the likes of Cigna (CI - Free Report) and Anthem (ANTM - Free Report) as progressive presidential candidates push policies such as “Medicare for All.”
The positive start to the busy part of earnings season comes as Wall Street assess what’s next in the U.S.-China trade war after the world’s two largest economies reached “phased one” of a deal last week.
Looking ahead, Netflix will report its Q3 results after the closing bell on Wednesday. Shares of NFLX have fallen 20% in the past three months as it prepares to face Apple (AAPL - Free Report) , Disney (DIS - Free Report) , Comcast (CMCSA - Free Report) , and WanerMedia (T - Free Report) . But more than anything, investors and Wall Street will be focused on subscriber growth in the short term.
The episode then ends with a look at Lululemon stock, which has crushed giants Nike NKE and Adidas ADDYY recently and pushed Gap (GPS - Free Report) , Target TGT, and others to jump further into athleisure.
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