Major stock indexes were off session lows but were still down 0.3% near midday Thursday, as the Dow Jones industrial average served up plenty of big movers. American Express (AXP) and Travelers (TRV) didn't respond well to earnings, but it was the opposite for IBM (IBM).
XWalt Disney (DIS), meanwhile, benefited from news that Comcast (CMCSA) is dropping its bid for 21st Century Fox (FOXA).
Shares of IBM jumped 3% on an earnings beat, but the stock is still in a downtrend and below its 200-day moving average.
American Express Tests Support
American Express was setting up in a nice base ahead of the results. Shares jumped 1.8% Wednesday, closing just below a 103.34 entry. But the stock fell 2% early Thursday. It's now testing support at the 50-day moving average.
In the stock market today, results weren't exactly piping hot at Domino's Pizza (DPZ). Shares fell nearly 3%, but the stock recovered off session lows. It was trading tightly near highs ahead of the results, but a sales miss and weaker than expected same-store-sales brought some sellers into the stock.
But Wall Street liked earnings from oil and gas equipment maker Chart Industries (GTLS). Adjusted earnings per share jumped 162% from the year-ago quarter, with sales up 34% to $319.9 million.
Elsewhere, Leaderboard name ZTO Express (ZTO) showed volatile action after a recent breakout. Shares were down 5% to 20.80. The stock on Monday broke out powerfully over a 21.80 entry. The China-based name is now testing support at the 50-day moving average.
Marijuana stock Tilray (TLRY) debuted strongly after pricing last night at 17. Shares were recently trading around 21.
Inside the IBD 50, Twitter (TWTR) outperformed, rising 1%. It could be poised for a first test of the 10-week moving average after a recent breakout. The stock has held up well despite recent concerns about user growth. Shares slumped more than 5% on July 9 on news that the company deleted 70 million suspicious accounts in May and June.
YOU MIGHT ALSO LIKE:
Marijuana Stocks: Tilray, The First Pure U.S. Pot IPO Opens 36% Higher
