Equity Brief: US Indices Close on Lows, NFLX Misses Revenue Estimates
Matt Weller, CFA, CMT July 17, 2019 4:06 PM
Index names may not reflect tradable instruments and not all markets are available in all regions.
- US indices edged lower for the second straight day, going out at the lows of the day.
- Utilities (XLU) were the strongest sector on the day; Industrials (XLI) were the weakest sector after disappointing earnings from CSX (see below).
- Stocks on the move:
- Bank of America (BAC), the second largest US bank by assets, rose 2% after reporting better-than-expected earnings and raising both its dividend and buyback program.
- Railroad CSX (CSX) reported a miss in earnings and revenue, taking the stock down 10% on the day.
- Abbot Labs (ABT) beat on earnings and raised its guidance, pushing the stock 3% higher on the day.
- Netflix (NFLX) just reported a beat on earnings ($0.60 EPS vs. $0.56 expected), though the company did miss slightly on revenues ($4.92B vs. $4.93 eyed). The stock is trading down 9% in the initial reaction after hours.
- See our preview for the rest of the big technology stocks!
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