Wall Street gained on Thursday, with the S&P 500 closing at its highest in two months, amid stronger-than-expected earnings from several top companies and the prospect of new stimulus measures in Europe.
The Dow Jones industrial average rose 321 points, or 1.87%, to 17,489, the S&P 500 gained 34 points, or 1.66%, to 2,053 and the Nasdaq Composite added 80 points, or 1.65%, to 4,920.
Shares rose from the opening bell and extended their gains into the afternoon, taking a cue from even bigger gains in Europe after European Central Bank President Mario Draghi said the bank could extend its stimulus programme beyond 2016 to boost euro zone growth and boost inflation closer to 2%.
Industrial stocks saw some of the market’s widest gains, even though several industrial firms posted a mixed bag of third-quarter earnings reports. Shares of Caterpillar rose 2.9% as the industrial bellwether cut its profit guidance for the year.
In Asia, shares advanced on Friday in morning session thanks to some well-timed comments on stimulus from Draghi and better-than-expected earnings from US technology companies.
The MSCI Asia Pacific Index jumped 1.4% by 10:07 a.m. in Tokyo, with Japan’s Topix index climbing 2%. High quality global journalism requires investment.
Ericsson (ADR) (NASDAQ:ERIC) rose 2.03% or +0.21 points on Thursday and made its way into the gainers of the day. After trading began at $10.38 the stock was seen hitting $10.37 as a peak level and $10.56 as the lowest level. The stock ended up at $10.55. The daily volume was measured at 4.65 million shares. The company has a market cap of $34.27 billion. The mean estimate for the short term price target for Ericsson stands at $12.80 according to 9 Analysts. The higher price target estimate for the stock has been calculated at $16.00 while the lower price target estimate is at $11.18. On Mar 18, 2015, the shares registered one year high at $13.14 and the one year low was seen on Sep 28, 2015. The 50-Day Moving Average price is $9.95 and the 200 Day Moving Average price is recorded at $10.76. Ericsson (ADR) (NASDAQ:ERIC) reported third quarter results 2015.
THIRD QUARTER HIGHLIGHTS:
- Reported sales increased by 3% YoY. Sales, adjusted for comparable units and currency, decreased by -9% due to lower sales in Networks. This was partly offset by sales growth in Professional Services.
- The mobile broadband business in North America remained stable QoQ, but at a lower level compared to the same period last year.
Wynn Resorts, Limited (NASDAQ:WYNN) witnessed a decline in the market cap on Thursday as its shares dropped -2.00% or -1.29 points. After the session commenced at $65.57, the stock reached the higher end at $66.20 while it hit a low of $61.27. With the volume soaring to 6.34 million shares, the last trade was called at $63.18. The company has a 52-week high of $192.45. The company has a market cap of $6.55 billion and there are 101.54 million shares in outstanding. The 52-week low of the share price is $50.96. Wynn Resorts Limited has dropped -37.6% during the last 3-month period. Year-to-Date the stock performance stands at -58.21%. The stock price is expected to reach $85.06 in the short term. The number of analysts agreeing with this consensus is 17. The higher estimate for the short term price target is at $132.00 while the lower estimate is at $62.00. On Oct 29, 2014, the shares registered one year high at $192.45 and the one year low was seen on Oct 1, 2015. The 50-Day Moving Average price is $67.08 and the 200 Day Moving Average price is recorded at $95.82. Wynn Resorts, Limited (NASDAQ:WYNN) announced the appointment of Clark T. “Sandy” Randt, Jr. and Patricia Mulroy to its Board of Directors. Ambassador Randt and Ms. Mulroy have been appointed as Class III (with a term expiring at the 2017 Annual Meeting) and Class I (with a term expiring at the 2018 Annual Meeting) Directors, respectively. Ms. Mulroy will also serve on the Board’s Compensation and Nominating and Corporate Governance Committees. With the appointment of Ambassador Randt and Ms. Mulroy, the Wynn Board of Directors now consists of nine Directors, seven of whom are independent.
Zoetis Inc (NYSE:ZTS) traded down -2.06% during trading on Thursday, hitting $40.80. The stock had a trading volume of 8.91 million shares. The firm has a 50 day moving average of $43.22 and a 200-day moving average of $46.55. The stock has a market cap of $20.79 billion and a price-to-earnings ratio of 49.16. Zoetis Inc has dropped -18.43% during the last 3-month period. Year-to-Date the stock performance stands at -5.88%. The stock price is expected to reach $52.17 in the short term. The number of analysts agreeing with this consensus is 12. The higher estimate for the short term price target is at $61.00 while the lower estimate is at $45.00. On Jun 25, 2015, the shares registered one year high at $55.38 and the one year low was seen on Oct 24, 2014. Zoetis Inc (NYSE:ZTS) has declared a fourth quarter 2015 dividend payable to holders of the company’s common stock of $0.083 per share. The dividend is to be paid on Tuesday, Dec. 1, 2015, to holders of record on Thursday, Nov. 5, 2015. Zoetis is the leading animal health company, dedicated to supporting its customers and their businesses.