The current stock market rally is on the rise, with the S & P 500 and Nasdaq Composite indices coming close to their record highs. Walt Disney (DIS) reached a new high as the Dow Jones giant touted a high-value, low-cost Disney +, offering a challenge to Netflix (NFLX). Chevron (CVX) will buy Anadarko Petroleum (APC), raising the producers of shale. JPMorgan Chase (JPM) rallied to an unexpected profit, while Delta Airlines (DAL) The profits of the airlines have been supported.
Stock market almost record
The Dow Jones has reduced its weekly loss to a few points, thanks to the strong rebound of Disney shares and JPMorgan on Friday. The S & P 500 Index and the Nasdaq have moved closer to their record highs, as software and other growth stocks are doing well. Energy stocks advanced against higher crude prices and the agreement between Chevron and Anadarko. JPMorgan's earnings supported the bank shares, with the exception of Wells Fargo (WFC), which gave a weak perspective. UnitedHealth (UNH) and other health insurance companies have moved under the umbrella of "Medicare for All" and concerns about benefit management companies of pharmacies.
Disney + is a big plus for Disney Stock
Walt Disney (DIS) unveiled Disney +, joining ESPN + and Hulu in the media giant's streaming arsenal. It will host the entire library of Disney's classic animated films, as well as original series and films, including new content from Star Wars, Marvel, Monsters Inc. Disney enters a cluttered streaming video space, but its Huge library of family-friendly global brands for families is widely considered a benefit. Disney pulls the content of Netflix (NFLX) and $ 6.99 a month will significantly reduce its rival. It could also supplant the video offer of Apple (AAPL), also due late this year.
Disney's shares hit a record Friday after clearing a point of purchase earlier in the week. Netflix shares fell below their 50-day threshold, while Apple stocks tested a recent buying point.
Chevron buys Anadarko for $ 33 billion
Energy giant Dow Jones will buy a major producer of shale Anadarko Petroleum (APC) for $ 33 billion in cash and shares, or $ 65 per share, in connection with the acquisition of the Permian Basin and deep-water assets. Chevron plans to divest assets of $ 20 billion to $ 20 billion between 2020 and 2022 to reduce its debt, return the money to shareholders and bring its stock repurchase program to $ 5 billion. dollars, against $ 4 billion previously. Western Oil (OXY) had offered more than $ 70 a share on Anadarko, CNBC reported, citing sources. Chevron's stock fell on Friday as Anadarko skyrocketed. Several shale plays have jumped.
Boeing 737 Max recovery pushed back
Boeing delivered 89,737 Max jets in the first quarter, up from 173 in the fourth quarter and 132 in the same quarter last year, following two accidents in the last five months. The aerospace giant, which on April 5 had reduced production from 737 Max to 42 per month and per month to 52, has received no new orders for the jet. Boeing shares have fallen, as investors and analysts expect the woes of 737 Max to last longer than expected. However, stocks reduced their losses over the weekend as the company said it had made 96 test flights on the 737 Max with updated software. He hopes to send the patches to the FAA in a few weeks. However, according to an IBD / TIPP survey, 51% of Americans who follow the news of the Boeing 737 Max would avoid flying in the plane.
JPMorgan Gains Surprise; Wells warns
JPMorgan's earnings per share amounted to $ 1.65, defying the view for a drop to $ 1.32. Revenues have also exceeded. JPMorgan CEO Jamie Dimon said the economic expansion could "last for years". Wells Fargo also broke the earnings per share record, but anticipates a decline in net interest income this year. The JPMorgan stock jumped 4.7% on Friday as Wells Fargo dropped. Bank of America (LAC) Citigroup (C) Goldman Sachs (GS) and Morgan Stanley (MS), who will report next week, all made good progress on Friday.
Uber Filed IPO, While Pinterest, Zoom Price Coming Soon
Technological unicorns have been racing since Lyft's recent IPO. Lyft's rival archival, Uber Technologies, has filed its long-awaited IPO, but has not specified the number of shares offered nor the valuation that it has. He is researching, although reports say he would look for a lower rating than before. Uber has recorded a turnover of 11.27 billion dollars in 2018, up 42%, but a loss of 1.85 billion dollars based on EBITDA. Pinterest set the price range for a $ 1.2 billion IPO, giving the social site a market capitalization of $ 10.6 billion, lower than a previous valuation. Zoom Video seeks to raise $ 627 million, with a valuation close to $ 8 billion. Pinterest and Zoom will be priced next week.
Stock Lyft dropped to a new low.
Two IPOs up software
PagerDuty (PD) and Tufin Software (TUFN) both jumped into Thursday's debut. The Israel-based cybersecurity firm, Tufin, has raised $ 108 million, for a price of 7.7 million shares at 14, the highest of its price range. The action Tufin rose 36% in the first session on Thursday. The PagerDuty computer software has raised $ 218.5 million, or 9.1 million shares at 24, above the expected range. Shares jumped to 59% Thursday.
jumia (JMIA), an African online business, has seen a 74.5% rise in Friday's debut, after a price of 14.50, in the middle of an expected range.
Delta Beats, JetBlue in London
Delta Airlines (DAL) exceeded the first quarter estimates and the carrier increased its sales outlook for the year. Strong business and leisure travel, which improved during the quarter, contributed to earnings. The carrier also sees other benefits during the upcoming peak travel season, which will begin later this month, likely due to higher fare deals and the new credit card deal with American Express (AXP). Meanwhile, JetBlue (JBLU) has confirmed that it will start flying to London in 2021, intensifying competition over the Atlantic. The shares of Delta, JetBlue and other carriers have increased.
Google Cloud Computing Strategy
Alphabet (GOOGL) -Unit Google plans to aggressively expand sales staff to make its cloud computing business more competitive in the enterprise market than Amazon Web Services. Microsoft (MSFT). Google plans to focus on verticals, including healthcare, retail, media, and financial services. The new Google Cloud CEO, Thomas Kurian, said he would target hybrid / multi-cloud environments. Google's cloud platform will allow customers to deploy applications on-premise as well as on Amazon (AMZN) or Microsoft platforms. MongoDB (MDB) has entered into a new alliance with Google.
Levi Strauss (LEVI) posted a net profit of 37 cents per share in the first quarter since last month's release. Revenues increased 7% to $ 1.435 billion. The shares, which had hit a low Monday after their IPO, yielded much of their gains at the end of the week.
Gains on Fastenal's offer stock
Stock IBD 50 Fastenal (FAST) caught up and reached a record level after the first quarter's industrial provider profits were slightly higher than the estimates. The results are a positive sign for the markets of the industry and construction. Meanwhile industry MSC Industrial Direct (MSM) fell after profits and sales in the second quarter of the fiscal year came under the point of view.
News in brief
General Electric (GE) fell to its lowest level in a month after a major JPMorgan analyst returned to a bearish view, cautioning about its cash flow. GE was also struck by the announcement of a $ 58.6 million fine imposed by the European Union on its takeover of LM Wind two years ago.
You're here (TSLA) has come across information that its plans to expand the production of electric vehicle batteries with Panasonic in its Nevada plant are on hold, suggesting a weakening demand for Tesla vehicles.
YOU COULD ALSO LIKE:
Threats greater than ever for these technology icons – Are investors ready?
Season of earnings in progress? Consider this strategy of options
This IPO started off quickly as one of the few to be already in the dark
Discover the next big winning stock with MarketSmith
Best Growth Stocks to Buy and See: See IBD Stock List Updates