Hello traders everywhere! Jeremy Lutz with your mid-day market update for Tuesday, the 16th of October.
The markets have moved higher today on the latest batch of positive earnings. Financial giant Goldman Sachs (GS), reported better than expected third quarter earnings.
Goldman Sachs reported adjusted third quarter earnings of $2.85 per share compared to a year-ago loss of $0.84 per share, while analysts had expected earnings of $2.12 per share.
Beverage giant Coca-Cola (KO) also reported third quarter earnings that came in slightly above analyst estimates but on weaker than expected revenues.
Johnson & Johnson (JNJ) reported third quarter earnings and sales that exceeded analyst estimates and also raised its full-year guidance.
Shares of Citigroup (C) are also in focus after the financial giant announced that Vikram Pandit has stepped down as the company's Chief Executive Officer and as a member of the Board. Citigroup also said that its board has unanimously elected Michael Corbat as CEO and a director of the Board. Corbat previously served as Citigroup's CEO of Europe, Middle East and Africa.
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
