This week, investors saw several notable earnings releases and continued volatility in oil prices. Below, we highlight the week ended February 6.
Before the opening bell on Monday, we saw a couple of big-name earnings releases.
- SYSCO (SYY ) – Reported lower profits, but matched analysts’ view.
- Exxon Mobil (XOM ) – Reported lower results. EPS beat estimates, but revenue fell short.
We saw a solid gain in oil prices, as crude oil rose 2.7% and Brent oil increased 3.2%. The market jumped on Monday, despite disappointing numbers in consumer spending and manufacturing.
The Dow rose 1.1%, the S&P 500 increased 1.3% and the Nasdaq gained 0.9%.
On Tuesday morning, there were a couple of notable earnings releases.
- BP (BP ) – Posted a net loss for the fourth quarter.
- UPS (UPS ) – Reported a drop in profits and higher revenue. Matched analysts’ EPS estimates.
The market saw another positive day as oil prices surged. Crude oil rose 6.7%, closing at $53.05 per barrel.
The Dow rose 1.8%, the S&P 500 increased 1.4% and the Nasdaq gained 1.1%.
During pre-market trading on Wednesday, there were several notable earnings releases.
- Southern Company (SO ) – Reported higher revenue, but lower earnings. Matched estimates.
- General Motors (GM ) – Reported higher earnings and lower sales. Beat estimates.
- Merck (MRK ) – Posted lower revenue, but higher profits. Beat analysts’ estimates.
Oil prices collapsed, as WTI crude oil fell 9.5% to $48.45 per barrel. There were also concerns regarding the ECB’s refusal to accept Greek bonds as collateral.
The Dow rose 0.04%, the S&P 500 fell 0.4% and the Nasdaq declined 0.2%.
On Thursday morning, we saw earnings from a few big names. In addition, the Jobless Claims report indicated a small rise in claims.
- Estee Lauder (EL ) – Reported higher results, but share fell on a weak outlook.
- Dunkin’ Brands (DNKN ) – Posted higher results and boosted its dividend.
The Dow gained 1.20%, the S&P 500 jumped 1.02% and the Nasdaq rose 1.05%.
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