A trader works at the New York Stock Exchange in New York, the United States.

US stocks rise amid earnings, corporate news

April 17, 2019

US stocks climbed as Wall Street digested a slew of quarterly results and corporate news…reports Asian Lite News

A trader works at the New York Stock Exchange in New York, the United States.

The Dow Jones Industrial Average gained 67.89 points, or 0.26 per cent, to 26,452.66. The S&P 500 increased 1.48 points, or 0.05 per cent, to 2,907.06.

The Nasdaq Composite Index rose 24.21 points, or 0.30 per cent, to 8,000.23.

Of the 11 primary S&P 500 sectors, financials and energy rallied while real estate and health care underperformed.

Shares of Johnson & Johnson rose 1.1 per cent at the close, contributing to the Dow. The company reported first-quarter results early Tuesday with its adjusted earnings of $2.10 per share, above the $2.03 per share expected by analysts surveyed by Refinitiv.

UnitedHealth Group also reported on Tuesday with both earnings and revenue beating estimates. Meanwhile, the US health care company raised its earnings guidance for the full year. The stock surged as more as 3.5 per cent in morning session, but closed at 4.01 per cent lower.

Qualcomm shares surged more than 23 per cent after reports said that the US chipmaker has reached an agreement with tech giant Apple to dismiss all litigation between the two companies worldwide.

The corporate earnings season has kicked into full gear, with IBM and Netflix among others to report after Tuesday’s close.

Of the S&P 500 companies that have reported so far, most have topped analyst earnings expectations.

Previous Story

NYC declares health emergency due to measles outbreak

Next Story

Tim Cook proves he’s better Apple CEO than Steve Jobs

Latest from BUSINESS

Microsoft Cuts Deep

The fresh job cuts come less than two months after Microsoft announced it was laying off more than 6,000 employees…reports Asian Lite

Northeast Is Growth Engine

Scindia also provided updates on the government’s efforts to facilitate the entry of SpaceX’s Starlink service into India. “All due diligence from

India to Empower Global South

India is emerging as a pivotal force in the global transition to clean energy, with Union Minister for New and Renewable Energy,

Maruti’s Global Push Breaks Record

June shipments hit 37,842 units, signalling robust global demand Maruti Suzuki India recorded its highest-ever monthly exports in June, shipping 37,842 units