Net worth tracking
Login Sign Up
  • All Opinions
  • Top Picks
  • Discover
  • Companies
  • Experts
WATCH LIST
Home » Daily

Markets inch upward during session as earnings beats after hours

Allan TongAllan Tong Posted On May 5, 2020
0
398 Views
0
0
Shares
  • Share On Facebook
  • Tweet It


This week, you missed Past Top Picks comments by Rick Stuchberry including Royal Bank (A Top Pick Apr 12/18, Up 27%) Get Premium to receive all past top picks opinions a few hours before market open.
Get Premium

Tuesday markets continued the rally from Monday afternoon, though they gave back a bit before the close. The TSX finished 0.45% higher as WCS soared nearly 21% to just under $20/barrell. One of the biggest gainers are MEG Energy, leaping 16.15%. Apparently, investors are encouraged by OPEC’s record production cuts despite the lack of storage space for oil. As well, ongoing plans to reopen segments of North America are contributing to optimism.

Another factor on the TSX were earnings reports. Sleep Country reported YOY Q1 revenues increasing 1.5%, though gross profit margin and operating EBITDA slipped. Of course, store sales plunged later in the quarter, but its e-commerce business leapt 143%. Likely other companies will report similar Q1 trends. ZZZ jumped nearly 8%.

In New York, the Nasdaq rallied 1.13% ahead of the the S&P (0.9%) and Dow (0.56%). WTI enjoyed its fifth-straight increase, up 20.4% as gold remained steady above $1,700/ounce. However, the real story came after the closing bell as a slew of companies reported earnings. Disney‘s EPS missed at 60 cents EPS vs. the 89-cent estimate, but its revenues beat at $18.01 billion vs. the $17.8 billion estimate. The ouse lost 2% during the session but regained some of that after the report. Electronic Arts‘ revenues of $1.52 billion beat the $1.32 billion estimate driven by a surge in use of its videogames. EA rose 2.38% during Tuesday but was rocky after earnings. Meanwhile, Beyond Meat‘s revenues of $97.1 million beat the expected $88.3 million. The stock sizzled 5.25% during the session plus about that much after the bell.

🛢 MEG Energy Corp +16.15%
🛏 Sleep Country Canada Holdings +8%
👸 Walt Disney -2%
🎮 Electronics Arts Inc +2.38%
🥩 Beyond Meat Inc. +5.25%

Post Views: 398
0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Canadian Tire Corporation Ltd., Royal Bank and More at 52-week Highs (Jan 06-12)
Melisa R. H. January 13, 2021
KB Home, Verizon Communications and 20 Stock Top Picks (Jan 08-14)
Melisa R. H. January 15, 2021
Read Next

Mixed markets as tech giants hit news highs

  • We're the Stock Chasers
    Hi! We are the Stock Chasers. We write about investing and finance tools we love. We’re passionate about fintech and we invest almost all our affiliate and advertising revenues into the development of Stockchase and Wealthica. We hope you enjoy the stock ideas and product reviews!
  • Join 39,652 Investors

    Winning in the Market eBook
    We deliver stock ideas to your inbox. Sign up free, get the ebook!

  • Top Reviews

    • The Ugly Truth About Identity Theft – Free Credit Report
      10
    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2020)
      8.5
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2020)
      7.4
  • Popular Posts

    • Canadian Tire Corporation Ltd., Royal Bank and More at 52-week Highs (Jan 06-12)
    • KB Home, Verizon Communications and 20 Stock Top Picks (Jan 08-14)
    • Cogeco Cable, TheScore Inc. and More Earnings Reports this Week (Jan 11-15)
    • Battle of the Stocks: Proven Tech Stocks to Buy in 2021
    • Top 8 ETF Stocks To Watch in 2021
  • Stock Lists

    • 4 Proven Financial Stocks Riding the Blue Wave
      January 13, 2021
    • Top 8 ETF Stocks To Watch in 2021
      January 8, 2021
    • Top 10 Finance Stocks To Watch in 2021
      January 7, 2021
    • Top 5 Energy Stocks To Watch in 2021
      January 6, 2021
    • Battle of the Stocks: Proven Tech Stocks to Buy in 2021
      December 22, 2020


  • Get $50 in free trades.


  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

© Stockchase Inc.
Press enter/return to begin your search