NEW YORK (TheStreet) - Third-quarter earnings season has been busy, and Jon Najarian, senior economic analyst at Capital Gold Group, gave his opinion to TheStreet's Joe Deaux about some of this week's big news.
Caterpillar (CAT) announced third-quarter results on Wednesday and disappointed Wall Street. While the numbers weren't that surprising, Najarian said that the CEO's dour outlook was a bit more concerning and unexpected.
Boeing (BA), meanwhile, reported strong third-quarter earnings, beating on both the top and bottom lines. Najarian suggested the stock will continue to run up into the end of the year, especially with the company's strong backlog and positive sentiment.Finally, Netflix (NFLX) has been volatile following its earnings report. But perhaps causing more of a stir was hedge fund manager Carl Icahn's partial exit from the stock. While Icahn's great at buying near the bottom, he's doesn't necessarily sell at the top, Najarian said, citing that Hain Celestial Group (HAIN) has continued to rally despite Icahn exiting his position earlier this year. Najarian concluded that Icahn made a smart risk-management move by locking in some profits and that Netflix can continue higher. Najarian added that Icahn still has a 4.5% stake in the stock. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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