“No Bank You” – Vista Partners Daily Market Recap 4/15/2019
Less than stellar earnings reports from a couple of big banks helped to bring the market down on Monday. S&P cut some of its losses from earlier in the session although it was still down 0.06% (1.83 points) by the time the market closed. Although it was up briefly at the very beginning of the day, the Nasdaq slipped 0.10% (8.15 points). The Dow was also down today, dipping 0.10% (27.53 points).
Individual components of the Dow were split between winners and losers today. UnitedHealth (UNH) did well, rising 3.13% by the time trade ended. Walt Disney (DIS) also climbed today, finishing the session up 1.52%.
Goldman Sachs (GS) reported its Q1 earnings today that showed mixed results. It beat on earnings although revenue was just shy on what Wall Street had been expecting. The company ended the day down 3.82%. Citigroup (C), was the other big bank to report today and it’s results were similar – missing on revenue expectations but beating on earnings.
David Solomon, CEO of Goldman Sachs, commented on the report and the future of the bank in a statement today. He said, “We are focused on new opportunities to grow and diversify our business mix and serve a broader range of clients globally. With improving momentum across our businesses, we are confident that Goldman Sachs will generate attractive returns for our shareholders.”
Atossa Genetics (ATOS) slipped quite a bit today, tumbling 6.71% to close out the session at $2.78 per share.
Idaho-based Hecla Mining Company (HL) was up 1.79% today closing at $2.27.
San Diego-based Fate Therapeutics (FATE) closed at $16.32/share up 1.12%.
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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