Earnings Report Bonanza Brings DJIA, S&P, Nasdaq Up

Jacob Harper |

With nearly a third of the companies in the S&P 500 reporting earnings this week, optimism remained high with several big players meeting or beating expectations. The slew of positive earnings reports sparked a rally across the indices, and, despite a slight pullback right before the bell, all ended the day with modest gains.

The markets opened with cautious optimism, as the previous day’s aftermarket report from Netflix (NFLX) had already sent shares up nearly 7 percent before open, which is how it closed the day as well. Facebook Inc (FB) received an upgrade from Credit Suisse, which sent shares up 2.92 percent and helped propel the tech-heavy Nasdaq’s big jump.

Besides Netflix, the other big earnings win came from Harley Davidson (HOG), who saw shares jump 6.41 percent on their earnings beat. However, the biggest news for the S&P came from Allergan (AGN), who skyrocketed 15.25 percent after fielding a buyout bid from a team comprised of activist investor William Ackman and the drug company Valeant. The S&P touched 1,885, or five points below its all-time high, before falling slightly before the close of trading.

From the Dow, Home Depot (HD) led the way, gaining 2 percent on an upgrade from BDO Capital. This offset a slightly underwhelming earnings report from McDonalds Corp (MCD), who shed 0.35 percent on the day.



Results for April 22, 2014

  • Standard & Poor’s 500: +.43 percent to 1,880 points
  • Dow Jones Industrial Average: +.39 percent to 16,514 points
  • NASDAQ Exchange:  +.96 percent to 4,161 points

Our Top Stories

  • Casey Research analyzes the difference between major crises that affect the market and what they perceive will be the real market catastrophe to top all catastrophes: the US debt level.

Stocks

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
HOG Harley-Davidson Inc. 48.02 0.50 1.05 3,866,484 Trade
FB Facebook Inc. 176.03 -0.08 -0.05 12,851,806 Trade
IDRA Idera Pharmaceuticals Inc. 2.40 -0.12 -4.76 896,010 Trade
HD Home Depot Inc. (The) 163.45 0.10 0.06 2,762,327 Trade
NFLX Netflix Inc. 195.54 -3.94 -1.98 11,271,516 Trade
DLEXF Datalex Plc Ord 4.00 0.00 0.00 0
GWPH GW Pharmaceuticals Plc 111.16 0.35 0.32 141,151 Trade

Comments

Emerging Growth

GTX Corp

GTX Corp, along with its subsidiaries, is engaged in design, development, manufacturing, distribution and sales of products and services in the GPS and BLE wearable technology personal location and wandering…

Private Markets

Voleo

Voleo is a free download that allows you to form investment clubs with your friends, family, colleagues, classmates, teammates…basically anyone you know and trust. Invest and manage a stock portfolio…

Quants Inc

Quants, Inc, a California Corporation, develops, markets and operates financial technology platforms and alternative investment products offering sophisticated risk management since 2010. The Company has primarily sharpened its focus with…