Stock market snapshot as of [26/4/2019 2:42 PM]
- European shares have managed to crawl into positive territory on Friday, despite continued patchiness in earnings from high profile giants
- Indices had crept off lows all session, but surprisingly resilient U.S. growth data—though with many provisos—provided the fillip that flipped sentiment definitively
- Wall Street is also trading off pre-market lows in reaction to the same stimulus
- The divide between the ‘growth’ and ‘value’s side of the street continue though, after another raft of robust technology sector earnings overnight, led by Amazon, contrasts with weak results from oil majors Exxon and Chevron and chipmaker Intel
Corporate News
- Unedifying earnings from Deutsche Bank contrasted almost perfectly with much better than expected results from the UK’s RBS, though both shares fell sharply, anchoring both the banking sector and European markets as a whole
- RBS’s couched warning about “the impact of Brexit uncertainty on the economy” on “income growth” pushed the shares to a drop that approached 5%
- Deutsche Bank fell 4%. A quarterly profit did little to assuage investor perceptions that after abandoning talks with Commerzbank this week, DB might be out of ideas on how to grow. The group also cut full-year revenue guidance after sales fell for the ninth-straight quarter
- Contributing to Dow Jones weakness, Exxon reported the worst loss in its refining unit in 17 year, sending the shares sharply lower early in the session. Chevron’s quarterly earnings were only slightly better
Upcoming corporate highlights
Date |
Time |
Company |
Event Name |
26-Apr-2019 |
AMC |
Juniper Networks Inc |
Q1 2019 Juniper Networks Inc Earnings Release |
29-Apr-2019 |
AMC |
SBA Communications Corp |
Q1 2019 SBA Communications Corp Earnings Release |
29-Apr-2019 |
AMC |
Vornado Realty Trust |
Q1 2019 Vornado Realty Trust Earnings Release |
29-Apr-2019 |
AMC |
Alexandria Real Estate Equities Inc |
Q1 2019 Alexandria Real Estate Equities Inc Earnings Release |
29-Apr-2019 |
AMC |
Western Digital Corp |
Q3 2019 Western Digital Corp Earnings Release |
29-Apr-2019 |
AMC |
Affiliated Managers Group Inc |
Q1 2019 Affiliated Managers Group Inc Earnings Release |
29-Apr-2019 |
AMC |
MGM Resorts International |
Q1 2019 MGM Resorts International Earnings Release |
29-Apr-2019 |
AMC |
Leggett & Platt Inc |
Q1 2019 Leggett & Platt Inc Earnings Release |
29-Apr-2019 |
AMC |
Alphabet Inc |
Q1 2019 Alphabet Inc Earnings Release |
AMC: after market close
Upcoming economic highlights