Get Real: Roller Coaster Continues This Earnings Season
AT&T stock is prospering, while Netflix’s problems could be rising. We also have the latest earnings including U.S. Steel and Chevron today.
Nov. 4 2019, Updated 7:16 p.m. ET
In today’s Get Real, we saw that AT&T stock is prospering. Netflix’s problems could be rising. We also have the latest earnings including U.S. Steel and Chevron today.
Must-knows
Google’s Fitbit acquisition
Google (GOOGL) announced its upcoming $2.1 billion Fitbit acquisition. So far, Fitbit stock has gained since the news. The acquisition increases Google’s presence in the wearables market.
Utilities look good
Despite recession fears, utilities are trading at record highs. The Fed’s recent rate cut could boost the record highs even more.
AT&T went through the roof
AT&T (T) stock has hit a new high after 52 weeks. The rise could be partly attributed to the company’s great third-quarter earnings results, but what else is driving the stock?
Earnings highlight reel
- Chevron (CVX) stock fell after disappointing Wall Street with lower-than-expected earnings.
- ExxonMobil’s (XOM) earnings beat the estimates and the stock rose.
- U.S. Steel (X) has been trading higher since its earnings release. AK Steel stock dropped following its results. However, AK Steel was being held to higher expectations than U.S. Steel.
- Alibaba (BABA) beat its estimates for the second quarter of fiscal 2020. The cloud business revenues did especially well.
- Altria (MO) stock fell despite strong earnings projections. The company’s investments in Juul Labs didn’t play out well.
- Hedge fund manager David Einhorn discussed the profit that he made by holding a short position on Netflix (NFLX). He also thinks that Netflix’s issues are intensifying.
What to watch for
Twitter stock fell
Twitter (TWTR) stock has been falling since its earnings release. However, options traders have remained bullish. Is it time to buy the dip or wait and see?
Where’s Uber heading next?
Uber’s (UBER) third-quarter earnings release is scheduled for today after the markets close. The company’s second-quarter results weren’t inspiring. However, analysts are mainly optimistic about the future.
Cannabis kickoff
Another cannabis earnings season is upon us. October wasn’t a great month for cannabis companies. The November earnings might be able to turn things around for the sector.
Can Under Armour beat its Q3 expectations?
Under Armour (UAA) is slated to release its third-quarter earnings report today. The stock responded positively to the company’s CEO succession plans. Will Under Armour’s profitability increase?