Market Wrap-up for Feb. 6 - The Week in Review

Before the opening bell on Monday, we saw a couple of big-name earnings releases.

• SYSCO (SYY ) – Reported lower profits, but matched analysts’ view.
• Exxon Mobil (XOM ) – Reported lower results. EPS beat estimates, but revenue fell short.

We saw a solid gain in oil prices, as crude oil rose 2.7% and Brent oil increased 3.2%. The market jumped on Monday, despite disappointing numbers in consumer spending and manufacturing.

The Dow rose 1.1%, the S&P 500 increased 1.3% and the Nasdaq gained 0.9%.

On Tuesday morning, there were a couple of notable earnings releases.

• BP (BP ) – Posted a net loss for the fourth quarter.
• UPS (UPS ) – Reported a drop in profits and higher revenue. Matched analysts’ EPS estimates.

The market saw another positive day as oil prices surged. Crude oil rose 6.7%, closing at $53.05 per barrel.

After hours, Disney (DIS ) posted an impressive quarter, sending shares upwards in after hours trading.

There were also a few big M&A stories on Tuesday, including Staples’ (SPLS) announcement that it has agreed to acquire Office Depot and JM Smucker’s (SJM ) deal to acquire Big Heart Pet Brands.

The Dow rose 1.8%, the S&P 500 increased 1.4% and the Nasdaq gained 1.1%.

During pre-market trading on Wednesday, there were several notable earnings releases.

• Southern Company (SO ) – Reported higher revenue, but lower earnings. Matched estimates.
• General Motors (GM ) – Reported higher earnings and lower sales. Beat estimates.
• Merck (MRK ) – Posted lower revenue, but higher profits. Beat analysts’ estimates.

Oil prices collapsed, as WTI crude oil fell 9.5% to $48.45 per barrel. There were also concerns regarding the ECB’s refusal to accept Greek bonds as collateral.

After hours, Yum! Brands (YUM ) reported a net loss for the fourth quarter, missing analysts’ estimates.

The Dow rose 0.04%, the S&P 500 fell 0.4% and the Nasdaq declined 0.2%.

On Thursday morning, we saw earnings from a few big names. In addition, the Jobless Claims report indicated a small rise in claims.

• Estee Lauder (EL ) – Reported higher results, but share fell on a weak outlook.
• Dunkin’ Brands (DNKN ) – Posted higher results and boosted its dividend.

In other news, Pfizer (PFE ) announced that it has agreed to acquire Hospira for $17 billion.

The Dow gained 1.20%, the S&P 500 jumped 1.02% and the Nasdaq rose 1.05%.

We began Friday with a few notable earnings:

• Moody’s (MCO ) – Reported higher Q4 results which beat estimates.
• CBOE Holdings (CBOE) – Posted higher earnings and revenue. EPS beat estimates, but revenue fell short of expectations.
• Buckeye Partners (BPL ) – Posted higher fourth quarter results.

Looking forward to next week, earnings season will continue with reports from Coca-Cola (KO ), PepsiCo (PEP ), Cisco (CSCO ), CVS Health (CVS ) and Hasbro (HAS ). In economic news, monthly retail sales will be released next Thursday.

Thanks for reading. Have a great weekend!

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