“Record Highs” – Vista Partners Daily Recap 4/23/2019
U.S. equities were full steam ahead on Tuesday, as they rose and lifted the market to record highs. The S&P 500 climbed 0.88% (25.71 points) while the Nasdaq also rose 1.32% (105.56 points). The Dow ended the session with gains of 0.55% (145.34 points).
Four Dow Jones companies reported earnings today. Coca Cola (KO) reported this morning that they had earnings of $0.48 which were just about 1 cent above what analysts had predicted. The company ended the day up 1.71%. Also reporting before the session was Procter & Gamble (PG) which had quarterly earnings of $1.06, which was right on target. By market close, they had sunk 2.69%. United Technologies (UTX) reported earnings of $1.91 per share, beating estimates of $1.82. The report gave them a 2.27% boost during today’s session.
After the market closed, Verizon (VZ) reported that they had beat Wall Street’s expectations with earnings per share of $1.22. This was after they ended the day down 2.09%
Atossa Genetics (ATOS) the Seattle based biotech firm focused on developing treatments for breast cancer did very well again today. The company’s stock shot up 11.42%, ending the yesterday at $2.83 per share and then today shares closed at $3.48 up 22.97% after reaching intraday high of $3.92/share on 12.8 Million shares of trading.
These better than expected results helped to lift the market to new heights today. Both the S&P 500 and the Nasdaq broke their closing high records with the S&P ending the day at 2,933.68 and the Nasdaq clocking in at 8,120.82. But it’s not all sunshine and rainbows. Greg McBride, a chief financial analyst with Bankrate, warned, “This market is not a bargain hunter’s paradise. Be prepared for a return of volatility and for returns to be harder-earned than what we’ve seen thus far in 2019.”
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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