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The investment firm beat Wall Street forecasts with earnings per share (EPS) of $3.72 and revenue of $7.93 billion.
It's another busy day of earnings reports… and the markets are resilient – even as analysts continue to set remarkably low expectations for companies.
While earnings will top headlines today, there are a number of profit opportunities that investors should consider before the opening bell.
Here is today's top stock market news, stocks to watch, ways to profit, and economic calendar for July 19, 2016.
What's Moving the Dow Jones Industrial Average Today: Deals and Earnings
Dow Jones futures projected a four-point gain as investors prepare for a busy day of earnings reports. The Dow doesn't want to push much higher as it awaits more insight into the timing of more stimulus from central banks around the globe. The European Central Bank (ECB) meets this week to discuss additional financial stimulus later this fall. The markets have been pushing higher since Japanese Prime Minister Shinzo Abe won an election last week and immediately ordered a fresh round of stimulus. But even with new stimulus, there is one policy by Abe that could trigger a stock market crash.
Johnson & Johnson (NYSE: JNJ) topped Wall Street earnings expectations and the firm hiked its full-year guidance. JNJ stock is up 2.4% after the company said it's been able to boost profitability despite currency exchange concerns.
Meanwhile, UnitedHealth Group Inc. (NYSE: UNH) announced that it had beaten earnings expectations. Shares of the insurance giant were flat in pre-market hours after the firm reported positive gains from its pharmacy benefits business.
The Republican National Convention continues today in Cleveland, Ohio. The first day was off to a tumultuous start after the wife of front-runner Donald Trump has been accused of plagiarizing portions of her speech. According to multiple reports, Melania Trump's speech contained a large chunk of text that resembled portions of a previous speech by current first lady Michelle Obama. Trump is expected to accept the GOP's nomination on the final day of the convention, July 21. More events like this have many people wondering if they should vote Libertarian in the 2016 election. Here's a primer on the Libertarian ticket.
Oil prices were ticking higher as traders reduced anxiety about oversupply issues. The markets are growing more optimistic that China is set to boost its oil imports after the nation completed a round of refinery maintenance over the last few months. WTI crude oil prices were up 1.0%, while Brent crude oil prices added 1.1%. Here's the best way to play oil prices right now.
Now here's your list of top stocks to watch in today's market, plus today's economic calendar:
Companies to Watch in the Stock Market Today
- Shares of Netflix Inc. (Nasdaq: NFLX) fell more than 13% in pre-market hours after the video-streaming giant reported a smaller than expected growth figure for expected subscribers. The company had expected to add 2.5 million new subscribers in the previous quarter, but added just 1.7 million. The company did beat Wall Street's EPS expectations and fell in line with analyst expectations of $2.11 in revenue. Read this before you decide to buy NFLX stock.
- Amazon.com Inc. (Nasdaq: AMZN) is about to stage a huge victory in the battle for original entertainment content. According to reports, the global e-commerce giant is set to finance Woody Allen's next movie – which will have a budget of roughly $25 million. The deal would be a big win over its rival Netflix. Here's our latest AMZN stock analysis after the company's historic Prime Day ended last Tuesday.
- Shares of Yahoo! Inc. (Nasdaq: YHOO) slumped nearly 1.5% after the company offered a weak earnings report and very little insight into its strategic alternatives. YHOO stock was off after the firm saw a 64% decline in profits and a 15% slide in revenue. The firm did top revenue expectations on what CEO Marissa Mayer described as "disciplined expense management." Here's what's next for YHOO stock after this earnings report.
- Look out for additional earnings reports from Microsoft Corp. (Nasdaq: MSFT), Intuitive Surgical Inc. (Nasdaq: ISRG), Lockheed Martin Corp. (NYSE: LMT), United Continental Holdings Inc. (NYSE: UAL), WW Grainger (NYSE: GWW), Phillip Morris International Inc. (NYSE: PM), and Kansas City Southern (NYSE: KSU).
Today's U.S. Economic Calendar (all times EDT)
- Housing Starts at 8:30 a.m.
- Redbook at 8:55 a.m.
- 4-Week Bill Auction at 11:30 a.m.
- 52-Week Bill Auction at 11:30 a.m.
We're Seeking Maximum Profits from the "IPO Icebreakers": 2016 has been a rough year for IPO investors, but that's about to change in the most lucrative way possible. Here's what you need to know to get ready for the turnaround. Read More…
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.