Portfolio

US close: Stocks mixed as earnings season rolls on

By Josh White

Date: Wednesday 20 Oct 2021

US close: Stocks mixed as earnings season rolls on

(Sharecast News) - Wall Street stocks closed in a mixed state on Wednesday, with the S&P 500 recording its sixth winning session on the trot.
At the close, the Dow Jones Industrial Average was up 0.43% at 35,609.34 and the S&P 500 added 0.37% to 4,536.19, while the Nasdaq Composite slipped 0.05% to settle at 15,121.68.

The Dow closed 152.03 points higher on Wednesday, extending gains recorded in the previous session as the release of some solid third quarter earnings from a number of big-name US firms gave sentiment a boost.

On the macro front, mortgage applications fell 6.3% in the week ended 15 October, according to the Mortgage Bankers Association, primarily due to an increase in the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances from 3.18% to 3.23%.

Applications to refinance a home fell 7% week-on-week, and those to purchase a home declined 4.9%.

In equities, Netflix was down 2.17% after it published its third-quarter earnings late on Tuesday, with the group reporting that it had snapped up 4.4m new subscribers during the period, ahead of estimates of 3.84m.

Sentiment around the streaming giant was dented on Wednesday, however, after analysts at Deutsche Bank downgraded the stock, stating its valuation was hard to justify given that revenue growth was expected to slow in 2022.

United Airlines descended 0.58% after the legacy carrier also released its quarterly results overnight, coming in ahead of expectations on both the top and bottom line thanks to an ongoing rebound in travel demand.

Biogen slipped 0.58% after it reported smaller-than-anticipated quarterly sales of its Alzheimer's drug Aduhelm earlier in the session, although it still managed to beat expectations with group revenues of $2.78bn and earnings per share of $4.77.

Elsewhere, Baker Hughes slid 5.66% after it posted a quarterly profit that fell short of expectations amid supply chain issues, while Verizon rose 2.41% after its quarterly profits topped expectations as its broadband segment continued to experience growth throughout the period.

Tesla closed up 0.18%, but was down 0.62% in after-hours action, as it prepared to publish its earnings after the closing bell.

Dow Jones - Risers

Unitedhealth Group Inc. (UNH) $435.09 2.52%
Verizon Communications Inc. (VZ) $53.61 2.41%
Travelers Company Inc. (TRV) $158.69 2.12%
Merck & Co. Inc. (MRK) $81.07 1.99%
Caterpillar Inc. (CAT) $204.19 1.52%
Amgen Inc. (AMGN) $209.66 1.39%
JP Morgan Chase & Co. (JPM) $170.84 1.35%
Chevron Corp. (CVX) $113.16 1.31%
American Express Co. (AXP) $179.60 1.29%
Dow Chemical Co. (DOW) $59.93 1.18%

Dow Jones - Fallers

McDonald's Corp. (MCD) $239.72 -1.26%
Goldman Sachs Group Inc. (GS) $407.89 -1.04%
Visa Inc. (V) $231.52 -0.90%
Salesforce.Com Inc. (CRM) $290.09 -0.77%
Walt Disney Co. (DIS) $170.55 -0.37%
Microsoft Corp. (MSFT) $307.41 -0.27%
International Business Machines Corporation (CDI) (IBM) $141.90 -0.06%
Johnson & Johnson (JNJ) $163.78 -0.05%
Dowdupont Inc. (DWDP) $30.52 0.00%
Honeywell International Inc. (HON) $230.94 0.00%

S&P 500 - Risers

Anthem Inc (ANTM) $423.81 7.70%
People's United Financial Inc. (PBCT) $18.81 5.85%
M&T Bank Corp. (MTB) $160.41 5.78%
Centene Corp. (CNC) $68.09 5.22%
Ford Motor Co. (F) $16.04 4.02%
FMC Technologies Inc. (FTI) $8.09 3.98%
CIGNA Corp. (CI) $214.76 3.93%
Fifth Third Bancorp (FITB) $45.59 3.78%
AES Corp. (AES) $25.04 3.64%
Citizens Financial Group, Inc. (CFG) $50.88 3.63%

S&P 500 - Fallers

Baker Hughes Company Class A (BKR) $25.36 -5.66%
Paypal Holdings Inc (PYPL) $258.36 -4.91%
Nasdaq Inc (NDAQ) $199.16 -4.64%
TripAdvisor Inc. (TRIP) $34.99 -3.49%
Booking Holdings Inc. (BKNG) $2,384.18 -3.20%
Estee Lauder Co. Inc. (EL) $304.25 -2.62%
Hasbro Inc (HAS) $90.96 -2.50%
Nektar Therapeutics (NKTR) $16.25 -2.46%
S&P Global Inc Com (SPGI) $440.56 -2.33%
Omnicom Group Inc. (OMC) $74.73 -2.28%

Nasdaq 100 - Risers

Sirius XM Holdings Inc (SIRI) $6.20 2.99%
T-Mobile Us, Inc. (TMUS) $121.94 2.85%
Hologic Inc. (HOLX) $72.93 2.82%
Align Technology Inc. (ALGN) $608.20 2.34%
Charter Communications Inc. (CHTR) $734.04 2.25%
Vodafone Group Plc ADS (VOD) $15.65 2.22%
J.B. Hunt Transport Services Inc. (JBHT) $195.08 1.99%
Regeneron Pharmaceuticals Inc. (REGN) $562.71 1.92%
Henry Schein Inc. (HSIC) $78.42 1.90%
Electronic Arts Inc. (EA) $139.16 1.76%

Nasdaq 100 - Fallers

Paypal Holdings Inc (PYPL) $258.36 -4.91%
Asml Holdings N.V. (ASML) $767.70 -4.15%
Booking Holdings Inc. (BKNG) $2,384.18 -3.20%
Hasbro Inc (HAS) $90.96 -2.50%
Netflix Inc. (NFLX) $625.14 -2.17%
Expedia Group Inc. (EXPE) $163.73 -1.49%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $358.15 -1.43%
Marriott International - Class A (MAR) $153.27 -1.13%
Fiserv Inc. (FISV) $110.11 -1.06%
Citrix Systems Inc. (CTXS) $99.28 -1.04%

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