Here Are Three Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average I:DJI rose 0.79% on Tuesday, as the blue-chip index broke a three-day losing streak.
- Alphabet Inc. (GOOGL) - Get Report was up 3.8% after the parent of Google posted a significant earnings beat.
- Verizon Communications Inc. (VZ) - Get Report rose 1.4% after the telecom giant beat earnings and revenue estimates.
Wall Street Overview
Stocks ended mostly higher on Tuesday, July 24, with solid corporate earnings boosting shares on Wall Street.
The Dow Jones Industrial Average I:DJI gained 198 points, or 0.8%, to 25,242, and the S&P 500 I:GSPC rose 0.5%. The Nasdaq I:IXIC ended little changed after hitting a record high earlier in the session.
Alphabet reported adjusted earnings of $11.75 a share, higher than the $9.64 expected by analysts. Excluding traffic acquisition costs, revenue was $26.24 billion, above consensus of $25.58 billion. Including a massive $5.1 billion fine issued by the European Union that the company plans to appeal, Alphabet's earnings were $4.54 a share.
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"Overall, it was a great quarter for Alphabet with broad beats across many different lines," said Cramer and the AAP team. "This is the type of performance we had hoped to see from the company for multiple quarters now, and management proved that just beating the quarter wasn't enough; they wanted to blow it out in the face of their European fine."
Harley-Davidson Inc. (HOG) - Get Report reported second-quarter earnings of $1.45 a share, beating estimates of $1.34. Revenue from motorcycle products fell 3.3% to $1.53 billion as worldwide retail sales fell 3.6%. However, Harley said it was maintaining its full-year shipments forecast of between 231,000 and 236,000 motorcycles for the 2018 fiscal year. Shares rose 7.7%.
United Technologies Corp. reported second-quarter earnings and revenue that beat Wall Street's estimates. The industrial giant also raised its 2018 earnings and revenue outlook. The stock gained 3.6%.
tumbled 15% after the appliance company posted a second-quarter loss of $657 million, a reversal from a year earlier, and issued a full-year forecast below Wall Street estimates.
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