Facebook shares sink as U.S. stocks add to records

Mae Love
January 13, 2018

The Dow Jones Industrial Average climbed almost one percent, adding 205.6 to a close of 25,574.73. The S&P 500 gained 12 points, or 0.4 percent, to 2,778. The company also said, however, that it would close dozens of Sam's Club locations in the coming months. The Nasdaq Composite dropped 6.13 points, or 0.08 percent, to 7,205.65. The reporting season kicks off in earnest on Friday, with results from the big USA banks JPMorgan Chase & Co (JPM.N) and Wells Fargo & Co (WFC.N).

Earnings for S&P 500 companies are expected to have increased by 11.8 percent in the recently-ended quarter, with the biggest gain from the energy sector, according to Thomson Reuters I/B/E/S.

Oil-linked shares with big gains included Dow member Chevron, up 3.1 percent, Apache, up 4.7 percent and Schlumberger, up 1.9 percent.

Wells Fargo fell 0.7 percent as the bank set aside more money in fourth quarter to cover expenses related to probes into its mortgage and sales practices.

FY2017 EPS Estimates for Tractor Supply (TSCO) Boosted by Wedbush
In a report issued on Thursday, 11 January, Wedbush has chose to cut rating on Tractor Supply (NASDAQ:TSCO) shares to a "Neutral". After $0.72 actual EPS reported by Tractor Supply Company for the previous quarter, Wall Street now forecasts 19.44% EPS growth.

Chesapeake Energy (NYSE:CHK) Receives "Buy" Rating from SunTrust Banks
A number of hedge funds have recently bought and sold shares of CHK . 66 funds opened positions while 209 raised stakes. Investors as well as the sell-side will be paying close attention to how the actual numbers compare with the estimates.

Revenue Estimates Analysis The Bank of New York Mellon Corporation (BK)
The stock of The Bank of New York Mellon Corporation (NYSE:BK) earned "Hold" rating by RBC Capital Markets on Wednesday, April 5. Jefferies Group reaffirmed a "hold" rating on shares of Bank Of New York Mellon in a research report on Friday, October 20th.

"I don't think you would've seen a big pop in bank stocks, no one's surprised by these numbers", said Ron Weiner president and founder of RDM financial in Westport Connecticut.

S&P 500 profits are expected to have risen 11.2 percent in the fourth quarter of a year ago.

Industrial companies that advanced included Dow members Caterpillar and Boeing which won 2.0 and 2.4 percent and Cummins, which advanced 1.9 percent.

Advancing issues outnumbered declining ones on the NYSE by a 3.40-to-1 ratio; on Nasdaq, a 3.18-to-1 ratio favoured advancers. The bank's shares rose 1.7 per cent.

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