Here are three key things to know about stocks now
- The Dow Jones Industrial Average rebounded on Tuesday after closing for eight out of the last 11 meetings.
- General Electric Co. (GE) announced after the announcement by 9% after the extension of the federal investigations. The stock was initially fueled by analysts and investors.
- Pfizer Inc. (PFE) slipped 1.8% after the pharmaceutical giant lowered its full-year sales forecast.
Wall Street Overview
Stocks rallied on Tuesday, October 30, after a volatile session on Wall Street that saw a 900-point swing for the Dow Jones Industrial Average.
The Dow Jones Industrial Average gained 432 points, or 1
"Bulls today pushed the button and made a profit, just the 5th session in October," said Bob Lang, founder of ExplosiveOptions.net and a contributor to TheStreet.com's Trifecta Stock Newsletter. "It was a difficult month for the Bulls and most indices are now well below their 200-day moving average, something that should not go unnoticed," he added. Emagazine.credit-suisse.com/app/art … = 157 & lang = DE The Dow sank on Monday, October 29, after Bloomberg reported on the US Englisch: emagazine.credit-suisse.com/app/art … = 157 & lang = en Announce tariffs on all remaining Chinese imports if talks between Donald Trump and Chinese President Xi Jinping do not bring any significant breakthrough in their ongoing trade war next month. Early Tuesday, Trump sent a tweet that brought further stock market losses to a victory for the Democrats in next week's midterm elections.
General Electric Co. (GE) lost 9% after announcing the expansion of federal investigations. GE canceled its dividend, an initiative that initially greeted analysts and investors.
The Boston-based industrial group reported a loss of $ 2.63 per share from continuing GAAP operations for the third quarter as GE recognized a non-cash goodwill impairment charge of $ 22 billion from GE Power.
GE said the Securities and Exchange Commission extended its investigation to the goodwill impairment charges related to GE's power business. The Justice Department also investigated this indictment, said CFO Jamie Miller during a conference call. GE said it cooperated with the SEC and DOJ, Miller said.
Adjusted income of 14 cents a share missed analyst estimates of 20 cents. GE's $ 29.57 billion revenue in the third quarter was also below guidance for $ 29.77 billion.
Pfizer Inc. (PFE) made stronger gains than expected in the third quarter, most recently led by outgoing CEO Ian Read, but narrowed its guidance for full-year sales and sent shares down 0.8%.
Pfizer said its adjusted earnings for the three months of September were 78 cents a share, outperforming the Wall Street consensus by 75 cents. Revenue was $ 13.3 billion, up 1% from the third quarter of 2017, but barely below analyst estimates of $ 13.55 billion. Pfizer also said that full-year sales will be in the range of $ 53 to $ 55 billion, a $ 2 billion upper-end value.
Coca-Cola Co. (KO) rose 2.5% after the soda giant reported adjusted earnings of 58 cents per share in the third quarter, higher than estimates of 55 cents and $ 8.25 billion in revenue Exceeded expectations.
Organic sales increased 6% while volumes increased 2%. Coca-Cola cited "double" digital volume growth of Coca-Cola Zero Sugar in all groups. Coke also said earnings were down 8% due to the strength of the US dollar.
Under Armor Inc. (UAA) shares rose 28% after the company returned an adjusted profit in the third quarter 25 cents per share were priced at 12 cents, with revenue of $ 1.44 billion, up from $ 1.42 billion, while North American revenue declined 2%, while the International revenue up 15%.
Facebook Inc. (FB) and eBay Inc. (EBAY) are expected to report revenue after the closing bell on Tuesday.
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BP PLC (BP) rose 3% on Tuesday after the oil giant made its strongest quarterly profit in five years after BHP Billiton's "transformative" acquisition. (BHP) US slate assets early this year.
Due to strong oil prices, BP, a stake in Action Alerts PLUS, announced on Tuesday that it could fully finance the $ 10.5 billion acquisition of BHP Billiton's oil and gas assets in cash with the planned rights issue.
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