US markets finished higher on Tuesday and look set for another day of steady trading as news looks to be dominated by solid earnings.
In a mark of how well earnings have been going so far, Bank of America stated on Tuesday that aggregate S&P 500 EPS were exceeding consensus expectations by 6% to date for the latest quarter.
Bitcoin (BTC) and gold are trading higher, while oil remains roughly level.
| NASDAQ | S&P500 | Bitcoin |
|---|---|---|
| 14,194.46 (+1.28%) | 4,521.54 (+0.84%) | 43,910.44 (+0.66%) |
Here are some of the trending stocks on Wednesday:
CVS Health (NYSE: CVS) has reported earnings ahead of expectations as the Omicron variant spurred demand for tests and vaccinations. The company also backed itself to achieve annual forecasts.
Solar energy storage specialist Enphase Energy (NASDAQ: ENPH) is in the green after reporting revenue and EPS ahead of expectations amid strong demand from consumers.
Chipotle Mexican Grill (NYSE: CMG) was also higher on the back of strong earnings, with the restaurant chain having reported higher than expected EPS as it said it had seen “no resistance” to the introduction of higher prices. Click Here to read about whether Chipotle is a good investment.
Lyft (NASDAQ: LYFT) has warned that its first quarter revenues are set to decline compared to the year before, falling short of analyst expectations amid continued difficulties caused by the Omicron variant.
Mandiant (NASDAQ: MNDT) is generating buzz amid reported acquisition interest from Microsoft (NASDAQ: MSFT). Read more about Mandiant here.
Canopy Growth (NASDAQ: CGC) beat expectations as well, with the cannabis grower reporting revenue ahead of analysts’ predictions and a narrowed loss.
Xpeng (NASDAQ: XPEV) shares are climbing after the electric vehicle maker’s Hong Kong-listed shares have been made easier to access for Chinese investors through a trading link called the Shenzhen-Hong Kong Stock Connect.
AMC Entertainment (NYSE: AMC) was buoyed by the news the theatre chain is adding two new locations in high-traffic areas, with one in San Diego and another in Washington, DC.
Solar energy technology outfit SolarEdge Technologies (NASDAQ: SEDG) was in the green ahead of its earnings release next week, with investors seemingly feeling confident the company will meet expectations.
Tritium Dcfc (NASDAQ: DCFC) stormed in Tuesday’s session and looks to be on the rise once more after the Brisbane-based EV charging outfit received backing from the Biden administration for its plans to build a production facility in Tennessee.