Testing the rally: Netflix beats on earnings but lowers guidance
This is exactly the scenario I've been worried about. Now let's see how the market reacts tomorrow Today, after the market close, Netflix (NFLX) reported second quarter earnings of 85 cents a share that beat the consensus analyst projection of $79 cents. (The whisper...Continuing the earnings rally today depends on how the market sees yesterday’s earnings from Apple
Will Apple’s (AAPL) huge earnings beat yesterday keep the stock market’s earnings rally going today, July 20? Or will the company’s typically conservative guidance for the next quarter put the rally on pause?
Earnings trump macroeconomics–but how long will the rally run without good news on that front?
So far earnings are over-powering worries about the U.S. debt ceiling crisis and the euro debt crisis. The Standard & Poor’s 500 stock index finished the day up 1.6% at 1326.73.