Stocks mixed with sudden 33% crash on earnings

The Dow Jones Industrial Average rose 150 points, while technology stocks fell on Friday morning, with Snap Inc. shares crashing more than 33% on weak earnings and sales results.


Snap reported an adjusted loss of 2 cents per share on revenue of $1.11 billion. Analysts expected a 1 percent loss per share on revenue of $1.14 billion. The Snapchat parent also declined to give guidance for the third quarter. Additionally, it said it would “significantly slow our hiring rate, as well as our operating expense growth rate.”

American pass (AXP), intuitive surgical (ISRG), Schlumberger (SLB), Twitter (TWTR) and Verizon Communications (VZ) were other major drivers of earnings after Friday’s opening.

American Express and Verizon split the Dow Jones Industrial Averages in early trading, with American Express up 6% and Verizon nearly 4% higher. Intuitive surgery decreased by 9%. Oilfield services heavyweight Schlumberger rose 8%. Twitter shares are down more than 1% early on.

micron technology (MU) fell about 3% after Morgan Stanley cut the stock to underweight. Tesla (TSLA) is up 2% early Friday. Elsewhere, technology leaders at Dow Jones apple (AAPL) rose 0.3% and Microsoft (MSFT) is down 0.3% after the stock market open today.

In a volatile uptrend in the stock market, the leader of the Dow Jones United Health (United Nations) – well Lanthius (LNTH), Quanta Services (PWR) and Navigation Vira (VRRM) – Among the stocks to watch. Keep in mind that although the market has shown bullish signs of strength, the constant volatility is a reason to remain cautious.

Lantheus and UnitedHealth are IBD Leaderboard shares. Vera appeared in the stock column near the buy zone for this week and the day’s stock was for the World Bank on Monday.

Dow Jones today: Treasury yields and oil prices

After Friday’s opening, the Dow Jones Industrial Average rose 0.25%, while the S&P 500 was up. The technology-heavy Nasdaq Composite Index was down 0.1% in morning trading.

Among the exchange-traded funds, the Nasdaq 100 index tracking the Invesco QQQ Trust (QQQ) is down 0.1%. The SPDR S&P 500 ETF (SPY) was up 0.1%.

The 10-year Treasury yield fell to 2.8% on Friday morning, threatening to extend Thursday’s losses. Meanwhile, US oil prices fell sharply for the second day in a row. West Texas Intermediate crude futures fell nearly 2% to test technical support above $94 a barrel.

stock market rise

On Thursday, the stock market posted a more upbeat move, with the tech-heavy Nasdaq leading the way with a 1.4% advance. The S&P 500 followed with a 1% gain, while the Dow Jones Industrial Average rose 0.5%.

Thursday’s big picture column commented, “After Wednesday’s gains, the Nasdaq hasn’t had any distribution days. Now, the S&P 500 is losing three days of it and dropping to one. Distribution days have been eliminated on June 30, July 13 and 14 July due to the 5% advance rule.”

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Dow Jones earnings: American Express, Verizon

American Express stock rose 6% Friday morning after the company reported better-than-expected earnings results for the second quarter. AXP shares closed on Thursday 25% from a 52-week high.

Verizon stock builds a base at 55.61 buy points, but the chart marred Thursday’s drop of nearly 3% after AT&T (T) Disappointing earnings results. Verizon shares lost nearly 4% early Friday.

Five Dow Jones stocks to watch right now

Dow Jones stocks to watch: UnitedHealth

Health insurance giant and stock IBD Leaderboard UnitedHealth is just above its double-handle base buying point at 518.80 after Thursday’s 0.6% gain, according to IBD MarketSmith chart analysis. Shares rose 0.6% on Friday.

UN stock shows 95 solids of Class 99 IBD, per IBD stock check. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.

4 growth stocks to watch at Cursstock market rally

Top stocks to watch: Lanthus, Quanta, Vera

IBD Leaderboard Lantheus stock is down 73.88 buying points after Thursday’s 3.1% drop. According to leaderboard commentary, Lantheus has proven to be one of the strongest stocks in the market currently, after rising from its double bottom in February. Lanthus shares rose 0.8% early Friday.

Quanta Services finalizes a teacup base with a handle of 138.56 buy points, according to IBD MarketSmith chart analysis. Meanwhile, an early entry at 133.68 is also playing a role. Shares were up 1.4% in morning trading.

Verra Mobility is close to reclaiming a cup with a handle buy point of 16.83 following Thursday’s 0.8% rally. The RS line of the stock continues to show tremendous strength as it reached a new high this week. Vera shares are up 1.5% on Friday morning.

Join IBD experts as they analyze the leading stocks in the current stock market rally on IBD Live

Tesla Stock

Tesla stock rose 9.8% Thursday after strong earnings results, extending the winning streak to seven sessions. The stock hit its highest level since early May.

Stocks rose 2% on Friday morning.

Dow Jones Leaders: Apple and Microsoft

Among Dow Jones stocks, Apple shares rose 1.5% on Thursday and closed on their long-running 200-day streak. Stocks regained the 50-day streak after the upward movement in recent weeks. Apple earnings are due on July 28. The stock was up 0.3% on Friday morning.

Microsoft stock rose 1% on Thursday, moving further above resistance around the 50-day line. The stock has closed about 24% from its 52-week high. The software giant will announce quarterly results on July 26. Microsoft shares lost 0.3% early Friday.

Make sure to follow Scott Lehtonen on Twitter at Tweet embed Learn more about developing stocks and the Dow Jones Industrial Average.

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