• NASDAQ rise over 1%
• Apple , Amazon and Facebook earnings above expectations
• Gilead Sciences stock below major support
• Apple , Amazon and Facebook earnings above expectations
• Gilead Sciences stock below major support
US indices opened higher on Friday, with the tech-heavy Nasdaq index leads market gains after upbeat results from the likes of Apple , Amazon and Facebook.
Meanwhile, US lawmakers are still arguing over the form of another stimulus package, mainly the $ 600 weekly unemployment benefit, which expires on Friday. Yesterday Republican proposal to reduce it to $200 a week was rejected.
S&P500 (US500) is stuck between major support at 3240.8 pts and the recently broken upward trendline. If sellers manage to break below the $3240.8 handle, a way for a bigger downward move will be open. On the other hand, once buyers regain control, the resistance 3338.6 pts may be at risk. Source: xStation5
Gilead Sciences (GILD.US)stock fell 2% after the market close. Pharmaceutical company reported second quarter earnings of $1.11 per share excluding some items on revenues of $5.14 billion while analysts polled by Refinitiv, expected earnings of $1.45 per share on revenues of $5.31 billion.
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Gilead Sciences (GILD.US) – launched today’s session with a bearish price gap. Stock broke below key support level at $70.00 per share. Should down beat moods prevail, resistance at $66 per share may come into play. Source: xStation5
Gilead Sciences (GILD.US) – launched today’s session with a bearish price gap. Stock broke below key support level at $70.00 per share. Should down beat moods prevail, resistance at $66 per share may come into play. Source: xStation5Facebook (FB.US) stock jumped 6% in extended trading after the company’s posted better than expected second-quarter figures. The social media giant earned $1.80 per share on revenues of $18.69 billion, well above analysts' expectations of $1.39 per share on revenues of $17.40 billion. Facebook revenue rose 11% in Q2.
Caterpillar (CAT.US) – reported quarterly earnings of $1.03 per share, well above analysts' expectations of 64 cents a share. Revenue also came in above market forecasts despite the fact that sales tumbled from a year ago due to a pandemic-related slump in demand.
Merck's (MRK.US) beat market expectations by 33 cents a share, with quarterly profit of $ 1.37 per share. Revenue also came in above expectations thanks to 29% increase in sales of its cancer drug Keytruda. Company raised its full-year forecast.
Chevron (CVX.US) posted a quarterly loss of $ 1.59 per share, while analysts expected loss of $0. 92 cents per share. Revenue also came in below estimates due to lower oil and gas prices and decrease in fuel demand caused by the pandemic.
Apple (AAPL.US) stock rose 5% in extended trading after tech giant posted better-than-expected quarterly results. Company earned $2.58 per share on revenues of $59.69 billion, while Wall Street expected earnings of $2.04 per share on revenues of $52.25 billion. Apple approved a four-for-one stock split.
Alphabet (GOOGC.US)— Shares of Google’s parent company rose 1% in extended trading after the company published its second-quarter financial results. Company earned $10.13 per share on revenues of $38.30 billion, well above analyst’s expectations of $8.21 per share on revenues of $37.37 billion.
Amazon (AMZN.US) stock rose 4% after the closing bell following upbeat second-quarter financial results. E-commerce giant posted second quarter earnings of $10.30 per share on revenues of $88.91 billion, well above analysts’ expectations of $1.46 per share on revenues of $81.56 billion. CEO Jeff Bezos said Amazon will spend at least $2 billion in the third quarter on personal protective equipment and costs related to the coronavirus and wage increases.
Ford (F.US)— stock climbed 1% in extended trading after company quarterly results surprised on the upside. The automaker lost 35 cents per share excluding some items on revenues of $16.62 billion while market expected a loss of $1.17 per share on revenues of $15.95 billion. The company reported an adjusted pretax loss of $1.9 billion, which ended up being more than $3 billion better than predictions.
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