Financialbuzz.com: 'Market Recap' Week Ending April 5th, 2019

NEW YORK, April 5, 2019 /PRNewswire/ -- U.S. markets opened stronger on Monday following better-than-expected China manufacturing data, suppressing investors fears of a slowing global economic growth. The Dow Jones Industrial Average rallied throughout Monday, gaining 328.2 points or 1.2% throughout the day. Monday's rally was also attributable to China's decision on Sunday to suspend additional tariffs on U.S. autos and auto parts in order to "create a good atmosphere for the continuing trade negotiations between both sides," according to Reuters. On Tuesday, markets remained flat, primarily due to Walgreens' weaker-than-expected financial results. Despite Walgreens' quarterly results, U.S. markets were offset as Monday's rally continued into Tuesday. On Wednesday, markets began the day stronger then quickly faded by the afternoon. Markets opened stronger due to reports that the U.S. and China were nearing a final trade deal. The Financial Times reported that the U.S. and China trade negotiations were mostly wrapped up, as China's Vice Premier Liu He met with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Wednesday. The Dow Jones rose by 152.1 points on Thursday morning as trade war discussions were in focus again and President Donald Trump met with Vice Premier Liu He on Thursday to further discuss trade matters. The optimistic trade talks this week pushed the Dow Jones by 442.88 to 26,388.80 from Monday's opening bell into late morning Thursday, nearly reaching a six-month high. The S&P 500 rose by 43.9 points or 1.5% in the same period, while the Nasdaq Composite gained 169.9 points or 2.1%. Walgreens Boots Alliance, Inc. (NASDAQ: WBA), GameStop Corp. (NYSE: GME), Delta Air Lines (NYSE: DAL), Tesla, Inc. (NASDAQ: TSLA), Office Depot, Inc. (NASDAQ: ODP)

The U.S. and China trade war talks have been ongoing for the past year now. The talks stirred fear within investors, which caused a volatile market towards the end of 2018. Back and forth talks between the two nations ended up pricing into the market. According to CNBC, Matt Lloyd, Chief Investment Strategist at Advisors Asset Management, expects some sort of trade deal to be reached. This will boost equity prices, but volatility will persist as key issues like intellectual property theft will likely not be fully solved. "The trade deal is really two deals. First, you have the numbers, the tariffs and all that; that's the easy fix. Intellectual property on the other side, that's not going to be fixed right away. That's going to take a few years, in my opinion," said Lloyd.

Walgreens Boots Alliance, Inc. (NASDAQ: WBA) reported its second quarter financial results on Tuesday before the market open. Walgreens missed analysts estimates, which sent shares lower by 10%. For the quarter, Walgreens reported earnings of USD 1.64 per share on revenue of USD 34.53 Billion. Analysts projected earnings of USD 1.72 per share on revenue of USD 34.56 Billion. The Company saw its same-store sales dropped by 3.8% in the U.S., primarily due to a weak flu season, continued de-emphasis on tobacco products, and decline in seasonal merchandise sales. Walgreens now expects its 2019 earnings to be roughly flat, compared to its previous growth of 7% to 12%.

GameStop Corp. (NYSE: GME) reported its fourth quarter financial results after the market close on Tuesday. GameStop shares plummeted by 12.1% after it missed its quarterly estimates. Additionally, GameStop said it would not provide its annual earnings guidance. For the fourth quarter, GameStop reported earnings of USD 1.45 per share on revenue of USD 3.1 Billion. Analysts projected earnings of USD 1.58 per share on revenue of USD 3.27 Billion. GameStop saw its total global sales fall by 7.6% year-over-year, however, comparable store sales rose by 1.4%. Analysts expected GameStop to report a 2.1% decline in comparable sales. For fiscal 2019, GameStop is expecting total sales decline between 5% to 10%, while comparable store sales are also expected to fall by 5% to 10%.

Delta Air Lines (NYSE: DAL) shares rose by 7% on Tuesday after the airline renewed its partnership with American Express (NYSE: AXP) for its Delta SkyMiles credit card. The partnership will continue until the end of 2029. Delta expects the partnership renewable to be accretive to its revenue stream. In 2018, Delta reported that the relationship with American Express delivered revenue of USD 3.4 Billion. Now, the airline expects the continued partnership to double revenue to USD 7 Billion by 2023. Delta reported in 2018 that it added one million new cardholders while spending across the card portfolio grew by double digits.

Tesla, Inc. (NASDAQ: TSLA) shares plunged by 10% on Wednesday after the electric vehicle manufacturer reported disappointing delivery numbers. Tesla announced that it delivered 63,000 vehicles in the quarter, which is a 110% increase year-over-year, but a 31% decline sequentially. Analysts expected Tesla to deliver 76,000 vehicles in the quarter. Out of the 63,000 total vehicles, 50,900 of those were Model 3 vehicles. Analysts projected a total of 52,450 Model 3 deliveries.

Office Depot, Inc. (NASDAQ: ODP) issued a warning for its preliminary financial results for its first quarter. The disappointing guidance sent shares tumbling by 23.6% throughout Thursday. The office and school supply retailer expects revenue of approximately USD 2.76 Billion and adjusted operating income of USD 65 Million. Office Depot said that the lower-than-expected operating performance is a result of its CompuCom division. CompuCom is expected to report an operating loss of USD 15 Million in the first quarter, primarily driven by lower-than-expected revenue from existing customers. Profits in the division are being pressured by ongoing expenditures to develop and market additional services.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has not been compensated for financial news dissemination and PR services by any parties. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.FinancialBuzz.com.

Media Contact:
info@financialbuzz.com
+1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com