“Keep On Truckin’” – Vista Partners Daily Market Recap 4/22/2019
The market kept on truckin’ Monday as earnings reports continue to pour out this week. The S&P 500 squeaked out a gain today of 0.1% (2.94 points), and the Nasdaq was right by it as it rose out of the red this morning and finished out the day with an increase of 0.22% (17.21 points). The Dow wasn’t able to follow suit as it saw losses of 0.18% (48.49 points).
The Dow saw a split between companies seeing earnings and those dealing with losses today. The biggest mover was UnitedHealth (UNH) as they climbed 2.42% by the time the market closed. Exxon Mobil (XOM) wasn’t too far behind with a rise of 2.18%. On the other hand, NIKE (NKE) fell today, dropping 2.06% as trade ended.
Atossa Genetics (ATOS) the Seattle based biotech firm focused on developing treatments for breast cancer did very well today. The company’s stock shot up 11.42%, ending the day at $2.83 per share. Steven C. Quay, M.D., Ph.D., Atossa’s President and CEO, will present at the Precision: Breast Cancer World R&D Summit at 2:00 pm ET on April 25th. The conference will be held at the Courtyard by Marriott Boston Downtown from April 24 – 25, 2019. Dr. Quay’s presentation is titled “A Twenty-First Century Approach: From Primary Prevention to Intraductal Immunotherapy,” and will be given during the Novel Approaches in Breast Cancer Drug R&D portion of the conference. The Precision Breast Cancer World R&D Summit is an exclusive, annual biopharma summit providing insights into the research and development of cutting-edge treatments for Breast Cancer and a networking forum for precision medicine leaders in this space. From therapeutics to diagnostics, the summit brings together scientists and business leaders from pharma, biotech, and academia, using extensive networking sessions to forge meaningful collaborations. The discussion and presentations are based around the latest trends in personalized medicine, using case studies covering early discovery to clinical development.
Investors will be keeping a close eye on the flood of earnings reports that will continue to come out this week. 155 S&P 500 companies are set to report throughout the next few sessions, and several Dow Jones companies will join them. Tomorrow, Coca Cola (K), Procter & Gamble (PG), Verizon (VZ), and United Technologies (UTX). Analysts are expecting earnings to have decreased from last year with consensus expectations predicting a 4.1% decline among S&P 500 companies.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
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