Start trading now on Poste Italiane

Bank of America, Johnson & Johnson outshine in earnings as Wyndham shares surge



As the market opened lower on Tuesday due to U.S retail sales data for September exceeding expectations, several companies released their earnings reports. Bank of America, Goldman Sachs, Johnson & Johnson (NYSE:), United Airlines, and Ericsson (BS:) were among those who disclosed their financial results. The market downturn was reflected in a drop of about 0.4% in the Dow Jones, approximately 0.8% in contracts, and around 1.1% in contracts. Retail sales growth excluding auto and gas was an unexpected 0.7% in September.

Bank of America reported a profit rise of 10%, reflecting last week’s strong performance by its peers. Goldman Sachs also featured in Tuesday’s third quarter reports, along with Lockheed Martin (NYSE:) which reported higher Q3 revenue due to rising geopolitical tensions. United Airlines is also on the docket. Early signs suggest that corporate America could be emerging from the recent earnings recession.

Ericsson, however, reported downbeat earnings, causing its shares to fall by over 4% in premarket trading. Futures on the Dow Jones were down 0.18%, shed 0.23%, and contracts on the Nasdaq 100 were 0.27% lower.

In contrast, Wyndham saw a 12% share rise following news of a potential $10 billion deal with Choice Hotels (NYSE:). This development made Wyndham one of the trending stocks for the day, along with Snap, VinFast Auto (NASDAQ:), Baidu (NASDAQ:), Tesla (NASDAQ:), Netflix (NASDAQ:).

Meanwhile, the ongoing Middle East conflict continues to impact the market as investors consider the possibility of a broader war. President Joe Biden’s planned visits to Israel and Jordan have somewhat eased these concerns. Oil prices remain steady as the US intensifies its diplomatic efforts and hopes grow for an easing of US sanctions on Venezuelan oil production.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Previous Post
Goldman profit tops estimates as dealmaking cushions hit from GreenSky, real estate
Next Post
Lockheed beats estimates on sustained weapons demand amid geopolitical tensions

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

Invest on crypto with Gianluca Vacchi project and start making money now
Win money trading on Amazon