August 20, 2022

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Dow rises as Snap collapses 33% on earnings

Dow rises as Snap collapses 33% on earnings

The Dow Jones Industrial Average rose 150 points, while technology stocks fell Friday morning, with Snap stock crashing more than 33% on the Double sales results and profits.


Snap reported an adjusted loss of 2 cents per share on revenue of $1.11 billion. Analysts expected a 1 percent loss per share on revenue of $1.14 billion. The Snapchat parent also declined to give guidance for the third quarter. Additionally, it said it would “significantly slow our hiring rate, as well as our operating expense growth rate.”

American pass (AXP), intuitive surgical (ISRG), Schlumberger (SLB), Twitter (TWTR) And the Verizon Communications (VZ) was another major factor driving profits after Friday’s opening.

American Express Verizon split Dow Jones industrial benchmarks in early trading, with AmEx up 6% and Verizon down nearly 4%. Surgical prolapse 9%. Heavyweight Oilfield Services Schlumberger acquired 8%. Twitter shares are down more than 1% early on.

micron technology (mo) down nearly 3% after Morgan Stanley downgraded the stock to underweight. Tesla (TSLA) earned 2% early Friday. in another place, Technology Pioneers at Dow Jones apple (AAPL) rose 0.3% and Microsoft (MSFT) decreased 0.3% after that stock market today Open.

In a volatile uptrend in the stock market, the leader of the Dow Jones United Health (United nations) – Beside Lanthius (LNTH), Quanta Services (PWR) And the Navigation Vira (VRRM) – Among the stocks to watch. Keep in mind that although the market has shown bullish signs of strength, the constant volatility is a reason to remain cautious.

Lantheus and UnitedHealth are IBD Leaderboard Stores. Vera appeared this week Stocks near the buy zone column IBD . was Today’s stock on Monday.

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Dow Jones today: Treasury yields and oil prices

After Friday’s opening, the Dow Jones Industrial Average rose 0.25%, while the S&P 500 was up. The technology-heavy Nasdaq Composite Index was down 0.1% in morning trading.

within Exchange Traded FundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ) decreased by 0.1%. and the SPDR S&P 500 ETF (spy) rose 0.1%.

The 10-year Treasury yield fell to 2.8% on Friday morning, threatening to extend Thursday’s losses. Meanwhile, US oil prices fell sharply for the second day in a row. West Texas Intermediate crude futures fell nearly 2% to test technical support above $94 a barrel.

stock market rise

On Thursday, the stock market posted a more upbeat move, with the tech-heavy Nasdaq leading the way with a 1.4% advance. The S&P 500 followed with a 1% gain, while the Dow Jones Industrial Average rose 0.5%.

Thursday column big picture He commented, “After Wednesday’s gains, the Nasdaq has zero Distribution days. Now, the S&P 500 is losing three of its value and falling to one. Distribution days have been eliminated on June 30, July 13 and July 14 due to the 5% advancement rule.”

If you are new to IBD, consider taking a look at stock trading system And the CAN SLIM Basics. He distinguishes chart patterns It is one key to investment guidance. IBD offers a wide range of Stock Growth ListsSuch as leaderboard And the SwingTrader.

Investors can also create watch lists, find companies near a profile buy pointor develop custom screens in IBD Market Smith.

Dow Jones earnings: American Express, Verizon

American Express stock rose 6% Friday morning after the company reported Better-than-expected earnings for the second quarter of the year Results. AXP shares closed on Thursday 25% from a 52-week high.

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Verizon stock builds a base at 55.61 buy points, but the chart marred Thursday’s drop of nearly 3% after AT&T (T)’s Disappointing earnings results. Verizon shares lost nearly 4% early Friday.

Five Dow Jones stocks to watch right now

Dow Jones stocks to watch: UnitedHealth

health insurance giant IBD Leaderboard UnitedHealth stock is just above its double-handle base buying point at 518.80 after Thursday’s 0.6% gain, according to IBD Market Smith Graph analysis. Shares rose 0.6% on Friday.

UN stock Shows a solid value of 95 out of a full 99 IBD compound classification, for every IBD stock check. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.

4 growth stocks to watch at Cursstock market rally

Top stocks to watch: Lanthus, Quanta, Vera

IBD Leaderboard Lantheus stock fell below 73.88 buying points after Thursday’s 3.1% drop. According to leaderboard commentary, Lantheus has proven to be one of the strongest stocks in the market currently, after rising from its double bottom in February. Lanthus shares rose 0.8% early Friday.

Quanta Services finalizes a teacup base with a handle for 138.56 purchase points, according to IBD Market Smith Graph analysis. Meanwhile, an early entry at 133.68 is also playing a role. Shares were up 1.4% in morning trading.

Verra Mobility is close to reclaiming a cup with a handle buy point of 16.83 following Thursday’s 0.8% rally. stock RS . line It continues to show tremendous strength as it reached a new high this week. Vera shares are up 1.5% on Friday morning.

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Join IBD experts as they analyze the leading stocks in the current stock market rally on IBD Live

Tesla Stock

Tesla stock rose 9.8% Thursday after strong earnings results, extending the winning streak to seven sessions. The stock hit its highest level since early May.

Stocks rose 2% on Friday morning.

Dow Jones Leaders: Apple and Microsoft

within Dow Jones stockApple shares rose 1.5% on Thursday and closed on their long-term 200-day streak. Stocks regained the 50-day streak after the upward movement in recent weeks. Apple earnings are due on July 28. The stock was up 0.3% on Friday morning.

Microsoft stock rose 1% on Thursday, moving further above resistance around the 50-day line. The stock has closed about 24% from its 52-week high. The software giant will announce quarterly results on July 26. Microsoft shares lost 0.3% early Friday.

Make sure to follow Scott Lehtonen on Twitter at Tweet embed Learn more about developing stocks and the Dow Jones Industrial Average.

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