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. 55.81 -0.66 -1.17 2,908,376 Trade
FB Facebook Inc. 143.68 -0.12 -0.08 12,382,002 Trade
IDRA Idera Pharmaceuticals Inc. 2.32 -0.01 -0.43 706,694 Trade
HD Home Depot Inc. (The) 150.00 1.28 0.86 5,019,927 Trade
NFLX Netflix Inc. 142.87 1.69 1.20 6,824,786 Trade
DLEXF Datalex Plc Ord 4.02 0.00 0.00 0
GWPH GW Pharmaceuticals Plc 114.76 -1.06 -0.92 292,215 Trade

Comments

Emerging Growth

Valuesetters Inc

Valuesetters Inc is a next generation technology company. The Company is focused in providing technologies and infrastructure-as-a-service (Iaas) to consumer through enterprise communications, entertainment, and game platforms.

Private Markets

BioSculpture Technology, Inc.

BioSculpture Technology, Inc. (“BST”) is a commercial-stage medical device manufacturer of liposuction surgical instruments for surgeons. It offers the FDA-cleared Twin Cannula Assisted Liposuction ("TCAL") Airbrush Liposculptor II® controllers, Airbrush®…

Knightscope

Autonomous security robots providing advanced detection capabilities at $7 per hour - aiming to define the future of security. Help #StopTheViolence.