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Financialinsiders.com Must Read Earnings Recap Week Ending November 2nd, 2018

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NEW YORK, November 2, 2018 /PRNewswire/ --

U.S. stocks opened lower at the beginning of the week, but quickly recovered throughout the week. The Dow Jones Industrial Average opened at 24,883.83 on Monday, before falling to the week's low of 24,159.40 at the closing bell. The Dow Jones quickly rebounded by 4.8% throughout the week, recovering from its losses on Monday. Stronger earnings by Facebook, Baidu, Pfizer and Coca-Cola propelled U.S. markets. Markets continued to rebound after the U.S. President, Donald Trump, engaged in talks with China's President Xi. He later claimed the talks went well, suppressing investors fears of the ongoing trade war. The S&P 500 rebounded by 5.02%, while the Nasdaq Composite rebounded by 6.49%. The Boeing Company (NYSE:BA), General Electric Company (NYSE:GE), Sprint Corporation (NYSE:S), Spotify Technology S.A. (NYSE:SPOT), Wayfair Inc. (NYSE:W)  

According to MarketWatch, Bruce Bittles, Chief Investment Strategist at Baird, in a Wednesday afternoon note, said that this two-day rally merits caution: "The scale of this week's stock market move (the S&P 500 is 5% above its late-Monday low) is more a function of the volatility seen in October than evidence, at this point, of improving trends. While index-level strength off of Monday's lows is encouraging, we maintain a cautious view. We can use historical tendencies to describe a likely path forward. At the same time, we cannot be so beholden to these expectations that we turn a blind eye to emerging realities."

The Boeing Company (NYSE:BA) shares plummeted on Monday after Lion Air flight JT610, a Boeing 737 Max 8, was en route to Pangkal Pinang and crashed into the Java Sea. 189 people were on board the flight and officials said it is most likely there are no survivors. Edward Sirait, Chief Executive Officer of Lion Air Group, told reporters that the same aircraft had technical problems on another flight, but resolved its according to procedures. Sirait declined to specify the matter of the incident to reporters. Boeing shares fell by 7.5%.

For other earnings video recaps please visit: https://www.youtube.com/watch?v=lmCMAK2FRxA

General Electric Company (NYSE:GE) shares plunged by 9.4% on Tuesday after GE announced its third quarter financial results. The Company decided to slash its quarterly dividend from 12 cents to just one cent per share. The dividend change is expected to take effect in December this year.

For other earnings video recaps please visit: https://www.youtube.com/watch?v=lmCMAK2FRxA

Sprint Corporation (NYSE:S) reported its second quarter financial results on Wednesday and topped analysts' estimates. The mobile communications company topped estimates in revenue, earnings and net subscriber additions, sending shares 9% higher. Sprint reported a net income of USD 196 Million or 5 cents per share, while analysts estimated a loss of 1 cent per share. Total revenue rose to USD 8.43 Billion, surpassing estimates of USD 7.97 Billion.

Spotify Technology S.A. (NYSE:SPOT) reported its third quarter financial results on Thursday. The music streaming service topped estimates, the Company's results remained in-line with its own guidance, causing shares to fall 10%. For the quarter, Spotify reported revenue of EUR 1.35 Billion, beating estimates of EUR 1.33 Billion and reported earnings per share of EUR 0.23 cents, crushing estimates earnings per share loss of EUR 0.24 cents. Monthly active users grew by 28%, to 191 million users, while 87 million of the users were premium subscribers.

For other earnings video recaps please visit: https://www.youtube.com/watch?v=lmCMAK2FRxA

Wayfair Inc. (NYSE:W) reported its third quarter financial results on Thursday and topped analysts' revenue estimates, but reported a larger-than-expected loss for the quarter. Shares plummeted by 17% at the opening bell on Thursday. For the third quarter, Wayfair reported revenue of USD 1.7 Billion, topping estimates of USD 1.67 Billion and reported an adjusted loss per share of USD 1.28, while analysts polled for a loss of USD 1.09 per share.

For other earnings video recaps please visit: https://www.youtube.com/watch?v=lmCMAK2FRxA

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