Here Are 3 Hot Things to Know About Stocks Right Now

  • The Dow Jones Industrial Average rose slightly Friday, holding on to slim gains after suffering losses of more than 300 points in the previous session.
  • PayPal Holdings Inc. (PYPL - Get Report)  jumped 8.2% after the digital-payments company posted stronger-than-expected third-quarter earnings and its active customer base topped 250 million.
  • Procter & Gamble Co. (PG - Get Report)  rose 7.8% after the consumer products giant posted fiscal first-quarter sales and earnings that topped estimates.

Wall Street Overview

U.S. stocks were mixed on Friday, Oct. 19, following a rebound for stocks in China, and after U.S. equities slumped sharply the previous trading day over worries on rising interest rates.

The Dow Jones Industrial Average rose 64.89 points or 0.3%, to 25,444.34, the S&P 500 lost one point and the Nasdaq fell about 0.5%. Stocks in the U.S. fell sharply on Thursday, Oct. 18, with the Dow dropping 327 points.

A pledge from the China's central bank governor to support his nation's economy led to a 2.58% gain for the benchmark Shanghai Composite. Worrisome, however, was data that showed the weakest economic growth in China since the financial crisis.

Honeywell International Inc. (HON - Get Report) reported third-quarter adjusted earnings of $2.03 a share, topping estimates of $1.99. Revenue came in at $10.76 billion, matching estimates. The company lowered its outlook for 2018 to reflect spinoffs.

The stock fell 1.1% on Friday.

"The theme held: sell the rallies," said Bob Lang, a columnist for Real Money and Trifecta Stocks. "There is not much to like in the equity markets right now, and many see that as a buying chance. I would suggest holding more dry powder right here and now, not that things may get worse but they may get messy - which is far more difficult to manage."

Procter & Gamble Co. (PG - Get Report) posted fiscal first-quarter adjusted earnings of $1.12 a share, 3 cents ahead of estimates. Sales of $16.69 billion also topped forecasts.

P&G said it would buy back $5 billion in stock but noted organic sales would match its previous guidance range as the consumer brands giant faces trade war headwinds and a stronger U.S. dollar. Shares were up 8.9%.

Schlumberger NV (SLB - Get Report)  reported third-quarter adjusted earnings of 46 cents a share, beating forecasts of 43 cents. Revenue of $8.504 billion came up just shy of estimates of $8.58 billion. Schumberger rose 0.1%.

Honeywell and Schlumberger are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells HON or SLB? Learn more now.

PayPal Holdings Inc. (PYPL - Get Report) rose 9.4% on Friday after the payments company reported third-quarter adjusted earnings of 58 cents a share on revenue of $3.68 billion, higher than Wall Street estimates, and guided for 2019 revenue slightly above forecasts.

During its conference call after the release of earnings, PayPal guided for 17% forex-neutral 2019 revenue growth and roughly 20% per-share earnings growth.

The company also announced an expanded digital-payments partnership with American Express Co. (AXP - Get Report) .

American Express, meanwhile, topped third-quarter earnings expectations, posting profit of $1.88 a share, 11 cents higher than estimates.

Shares rose 3.8% on Friday.

Tesla Inc. (TSLA - Get Report) introduced a new $45,000 version of its Model 3 sedan, as the promised base-level version of the car, with a starting price of $35,000, was earlier pushed back until next year.

The new, rear-wheel model comes with a "mid range" battery pack and a range of 260 miles. The "long range" model 3 - which starts at $49,000 and has been out for more than a year - has a range of 310 miles.

Tesla was down 1.5%. Ford Motor Co. (F - Get Report) fell about 0.1% to a 52-week low.

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DowDuPont Inc. ( DWDP) fell 1.9% after the chemicals giant said it would take a $4.6 billion impairment charge related to its agriculture division.
DowDuPont is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells DWDP? Learn more now.

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