"Tesla ( NASDAQ: TSLA) missed on earnings, with EPS of 50 cents missing by six cents. Revenue of $28.09 billion, up 11.6% year over year, did beat by $1.39 billion. Meanwhile, IBM ( NYSE: IBM) pulled back after reporting in-line software revenue. Despite that one number, IBM still beat Wall Street estimates."
"Crude oil is up $2.86 to $61.36. All after the Trump Administration imposed additional sanctions of two of Russia's biggest oil companies, Rosneft and Lukoil. Also, while President Trump said that his upcoming meeting with China's President is scheduled, Treasury Secretary Scott Bessent said the White House is considering plans to curb exports to China made with U.S. software."
"Despite the pressure, analysts are pounding the table over: Analysts at Bernstein just reiterated their outperform rating on Netflix ( NASDAQ: NFLX). After poor earnings sank the stock, Bernstein said investors should buy the stock. In fact, the firm said Netflix recorded its highest-ever television viewing share. At the moment, the average price target on NFLX is $1,381.26. Analysts at Bank of America reiterated a buy rating on IBM with a price target of $315. The firm noted that IBM posted an overall clean quarter, beating on the topline and EPS."
Major U.S. indices declined while remaining at record highs as earnings, trade-war concerns, and rising oil prices weighed on markets. Tesla missed EPS at $0.50, falling short by $0.06, while revenue of $28.09 billion rose 11.6% year over year and beat estimates. IBM reported in-line software revenue but nonetheless beat Wall Street estimates and pulled back. Crude oil rose $2.86 to $61.36 after the U.S. imposed additional sanctions on Rosneft and Lukoil. The White House is considering curbs on exports to China made with U.S. software. Analysts reiterated buy ratings on Netflix, IBM, Tesla, and Microsoft with elevated price targets.
Read at 24/7 Wall St.
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