US stocks climb as earnings reports roll in
Source: AP-Excite
By MATTHEW CRAFT
NEW YORK (AP) — Solid earnings for a range of companies helped nudge the stock market higher in early Tuesday trading. The restaurant chain Chipotle and Comcast, the giant cable company, surged after reporting better results than Wall Street expected.
KEEPING SCORE: The Dow Jones industrial average rose 53 points, or 0.3 percent, to 17,103 as of 10:06 a.m. Eastern time. The Standard & Poor's 500 index added eight points, or 0.4 percent, to 1,982. The Nasdaq composite advanced 26 points, or 0.6 percent, to 4,451.
MORE BURRITOS: After the market closed Monday, Chipotle Mexican Grill reported that stronger sales drove its quarterly profit up 26 percent. The restaurant chain's results beat analysts' expectations, even as it raised prices on a range of menu items. Chipotle surged $68.42, or 12 percent, to $658.10 early Tuesday, the biggest gain in the S&P 500 index.
PLUGGED IN: Comcast, the country's largest cable company, reported quarterly profits that topped Wall Street's targets, as more people signed up for Internet service. Comcast gained 81 cents, or 1.5 percent, to $54.63.
FULL story at link.
FILE - This March 4, 2013 file photo shows a sign for Wall Street on the side of building near the New York Stock Exchange, in New York. U.S. stock futures pointed higher early Tuesday, July 22, 2014, as more corporate earnings rolled in. Shares in the restaurant chain Chipotle and the cable company Comcast surged after they reported results that were better than Wall Street expected. (AP Photo/Mark Lennihan, File)
Read more: http://apnews.excite.com/article/20140722/us--wall_street-0a949c5450.html
= new reply since forum marked as read
What Domestic Terrorists Are Teaching Our Children
...
So, it would make sense that stock prices would fall if earnings expectations fell and vice versa.
..
"Markets stopped following fundamentals about two years ago," said Matt King, a credit products strategist with Citi.
In a new presentation, King included a slide titled "Distorted Markets," which included the chart below.
As you can see, stock prices generally move in the same direction as analysts earnings revisions. But in the right side of the chart, you can see where things get confusing.
Read more: http://www.businessinsider.com/citi-equities-no-longer-follow-earnings-2014-5#ixzz38DPy56mj
http://www.forbes.com/sites/jessecolombo/2014/07/01/these-23-charts-prove-that-stocks-are-heading-for-a-devastating-crash/
