During Market hours yesterday — Tuesday (20.10.2020):

Stocks rose on Tuesday after House Speaker Nancy Pelosi signaled Democrats and the White House were making progress in negotiations for a new fiscal stimulus deal.

  • The Dow (Symbol: DIA) closed 0.3% higher. The S&P 500 (Symbol: SPY)  popped 0.4% and the Nasdaq (Symbol: QQQ) ticked 0.2% higher.
  • IBM (Symbol: IBM) Shares shed more than 6% after IBM’s third-quarter results showed a third straight quarter of declining revenue. The company earned an adjusted $2.58 per share for the quarter, which was in line with Street forecasts, while revenue was slightly above consensus estimates. IBM did not issue current-quarter guidance due to ongoing uncertainty surrounding Covid-19.
  • AMC Entertainment (Symbol: AMC) Shares of the movie theater chain sank 12.7% after the company warned of a possible bankruptcy in a security filing related to a secondary stock offering. The company said it could burn through its existing cash by the end of 2020 or early 2021 without additional liquidity.
  • Travelers (Symbol: TRV) The insurance stock gained 5.6% after it reported better-than-expected results for its third quarter. Travelers reported $3.12 in adjusted earnings per share on $8.28 billion of revenue. Analysts surveyed by FactSet were looking for $3.03 per share and $7.59 billion. The company reported growth in its underwriting business and its investment income.
  • Regions Financial (Symbol: RF) The stock popped 4.9% after reporting better-than-expected quarterly results. Regions Financial earned 52 cents per share on revenue of $1.64 billion, compared to the 33 cents per share on revenue of $1.49 billion forecast on Wall Street.
  • Synchrony Financial (Symbol: SYF) Shares fell 5.1% after reporting disappointing sales for the third quarter. The company made $3.46 billion in revenue, missing estimates of $3.49 billion, according to Refinitiv. Earnings came in in line with estimates at 72 cents per share.
  • Comerica (Symbol: CMA) The bank’s stock rallied 4.8% after reporting earnings that topped analyst expectations. Comerica earned $1.44 per share, above the 83 cents expected on Wall Street. Revenue came in at $710 million, higher than the forecast $696 million.
  • UBS (Symbol: UBS) Shares of the bank rose 5.3% after reporting its quarterly profit doubled, driven by strong investment banking and a boost in profit from its wealth management division. UBS also set aside $2.5 billion for potential dividends and stock buybacks.
  • Revlon (Symbol: REV) The stock price dropped 3.6% after its warning to bondholders that they might not get paid if the company’s distressed-bond exchange fails. The embattled cosmetics retailer said that without 95% participation from bondholders, most of the company’s debt will accelerate and become payable next month, in which case the bonds could be worth next to nothing.

During Premarket hours today – Wednesday (21.10.2020):

  • Netflix (Symbol: NFLX) Netflix reported quarterly earnings of $1.74 per share for its latest quarter, missing the consensus estimate of $2.14 a share. Revenue was above Wall Street forecasts, however. In addition to the earnings miss, Netflix shares are also being pressured by the weakest subscriber growth in four years.
  • iRobot (Symbol: IRBT) iRobot reported quarterly profit of $2.58 per share, well above the $1.00 a share consensus estimate. Revenue came in above estimates as well, helped by strong demand for the company’s Roomba robotic vacuum cleaners.

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