Wall Street edges higher on upbeat earnings

Credit: Reuters Studio
Published on April 16, 2019 - Duration: 01:15s

Wall Street edges higher on upbeat earnings

U.S. stocks ended slightly higher on Tuesday, with the S&P 500 inching closer to its all-time high.

Fred Katayama reports.

Advertisement

Wall Street edges higher on upbeat earnings

BROADCAST AND DIGITAL RESTRICTIONS~** Broadcasters: NONE.

Digital: NONE Stocks on Wall Street crept higher on Tuesday.

A string of mostly positive earnings pushed the S&P 500 closer to its all-time high.

The Dow, S&P and Nasdaq gained less than a third of a percent.

Healthcare companies Johnson & Johnson and UnitedHealth posted quarterly results that beat Wall Street's expectations, and they raised their profit outlooks.

J&J shares rose, but UnitedHealth shares LOST their earlier gains, weighed down by investors' concerns over the Trump administration's proposal to end discounts from drugmakers.

Bank of America shares declined.

Its quarterly revenue fell short of analysts' targets.

The second-biggest U.S. bank by assets, followed rivals by struggling to generate top-line growth and suffering from a decline in trading revenue.

Vespula Capital CEO Jeff Tomasulo: SOUNDBITE: VESPULA CAPITAL CEO JEFF TOMASULO, (ENGLISH) SAYING: "We have for the first time in, I think it's been three years, that we're having a slowing of the earnings per share that's coming out of these companies.

The first time we're going to see a negative dip in earnings in a while.

So I think that is really making people cautious." Qualcomm shares surged after it settled its long-running royalty dispute with Apple, whose shares inched higher.

After the bell, Netflix shares fell.

The video streaming company forecast new global paid subscribers would drop in the second quarter.

You are here

Recent related news from verified sources

U.S. stocks opened higher on Thursday, helped by upbeat earnings from Cisco and Walmart, although the Trump administration's move to blacklist Chinese telecom...
5 days ago • Reuters India

Wall Street was set to open higher on Thursday, as upbeat quarterly results from Cisco and Walmart helped investors look past strained relations between the...
5 days ago • Reuters

Asian stock markets are mostly higher on Friday, with investor sentiment bolstered by the positive cues overnight from Wall Street for a third straight session...
5 days ago • RTTNews

Recent related videos from verified sources

Wall Street rises for third straight day 01:18
Credit: Reuters - Business (Amazon FireT - Published 5 days ago 

Cisco And Walmart Earnings Reports Boost Wall Street 00:41
Credit: Wochit - Published 5 days ago 

Three Things to Watch in the Cannabis Sector After Tilray and Aurora's Earnings 01:20
Credit: The Street - Published 6 days ago 

Wall Street rebounds on upbeat trade talk 01:03
Credit: Reuters - Business (Amazon FireT - Published 1 week ago 

Union Pacific CEO on the Business: 'We're Very Confident' on Generating Cash 00:57
Credit: The Street - Published 2 weeks ago 

Disney Shares Beat Estimates, 'Endgame' Streaming Date Revealed 00:56
Credit: Wochit - Published 2 weeks ago 

Don't Like Volatility? Steer Clear of These 3 Stocks -- ICYMI 02:56
Credit: The Street - Published 2 weeks ago 

Wall Street Street Braces For Earnings Everywhere 00:47
Credit: Wochit - Published 3 weeks ago 

You might like