Yahoo Finance Stocks rebound despite mixed earnings, higher dollar
Wall Street slipping to end the week as mixed earnings reports, and a stronger dollar, weigh on stocks. Catch The Final Round at 4p ET with Yahoo Finance editor-in-chief Andy Serwer, Cathie Wood of Ark Invest, and reporter Jared Blikre.
Winners and losers
Let’s take a look at some of today’s winners and losers. Stocks finishing the week lower include Skechers as the footwear maker forecast weaker-than-expected fourth-quarter revenue, Twilio as the cloud communications firm priced its secondary offering of 7 million shares at $40; and AMD, with shares of the chipmaker getting zapped after its sees fourth quarter revenue declining around 18% sequentially. The soft outlook is overshadowing a better-than-expected Q3.
Stocks pushing higher today include McDonald’s on a third-quarter earnings beat powered by its all-day breakfast lineup; biopharma name Alkermes surging after its depression treatment succeeded in a key trial; and Paypal, with shares of the payments services company on fire as growing active accounts powered an earnings beat, plus the firm signed a deal to become a payment option on Alibaba’s marketplace. As a disclosure, Yahoo Finance’s corporate parent Yahoo owns a 15% stake in Alibaba.
Congress to review ‘obsolete’ gambling laws
Finally a congressional committee is reviewing federal gambling laws, including a 24-year-old ban on sports betting, with the aim of creating comprehensive legislation that could legalize activities like daily fantasy sports and other types of gaming. For more on this story we are joined by Yahoo Finance’s Dan Roberts.
Looking ahead
On Wednesday, we’ll get new home sales for September. In the prior month we saw a seasonally adjusted 609,000 new home sales.
On Thursday, we’ll get a read on manufacturing with Durable Goods orders for September. In the prior month, new orders were down 1.3% year over year.
Finally, on Friday, we’ll get a big report with the first estimate of third-quarter GDP. Just this week, the Atlanta Fed raised its third quarter GDP forecast to 2.0%.
