Here Are Three Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average I:DJI shot higher at the close on reports of a U.S. deal with the EU to avoid a trade war.
- Facebook (FB) - Get Report slides in after-hours trading after revenue miss.
- General Motors Co. (GM) - Get Report slumped 4.3% after the automaker issued an outlook for 2018 that was below analysts' estimates.
Wall Street Overview
Stocks surged in late trading on Wednesday, July 25, to end sharply higher on reports the U.S. and Europe have reaced an agreement to avoid a trade war
The surge came amid reports European Commission President Jean-Claude Juncker and President Trump have reached agreement on a deal to avoid a trade war.
Sergio Marchionne, the legendary auto industry executive, died Wednesday, just days after he stepped down as CEO of Fiat Chrysler Automobiles NV (FCAU) - Get Report following medical complications linked to an earlier surgery. Shares of the company fell 11% on disappointing earnings.
Marchionne, who assumed the role of Fiat Chrysler CEO when the U.S. carmaker emerged from Chapter 11 bankruptcy in 2009, has been widely credited with steering the company into profitability thanks to a shift toward larger vehicles in the U.S. market and a focus on cost cuts.
The parent of Time Warner, DirecTV and AT&T communications networks earned an adjusted 91 cents a share in the second quarter, topping analysts' estimates of 87 cents. Revenue in the quarter fell 2.1% from a year earlier to $39 billion and missed analysts' estimates.
Shares fell 0.7%, however, as the company cut its defense operating margins and its full-year earnings guidance didn't meet analysts' expectations.
Coca-Cola Co. (KO) - Get Report earned 61 cents a share on an adjusted basis in the second quarter, beating estimates by 1 cent. Revenue fell 8% to $8.9 billion but topped analysts' forecasts. Shares rose 2%.
General Motors Co. (GM) - Get Report posted adjusted profit in the second quarter of $1.81 a share, beating estimates by 3 cents. Revenue fell 3.1% to $36.8 billion. The automaker said it expects adjusted earnings in 2018 of $6 a share, below estimates of $6.42. Shares declined 4.3%.
- General Motors Just Served Up a Reality Check to Team Trump
- GM Slashes Guidance After Mixed Second Quarter
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