January 31, 2020 Weekly Wrap up LIVE from the floor of the NYSE | Financial Buzz

January 31, 2020 Weekly Wrap up LIVE from the floor of the NYSE

On Monday the new home sales for November were down just 3,000 to an annualized 694,000 units. Markets closed sharply lower as investors worried about the spread of the novel coronavirus. The S&P 500 fell 50 points, the Dow Jones Industrial Average slumped 450 points.

On Tuesday durable goods orders for December increased 2.4% gain on top of the last month’s 3.1% loss.  The Case-Shiller home price index for November rose from 0.4% to 0.5% and consumer confidence for January rose 2.6% to 131.6. All three U.S. major indexes rose, recovering some lost in the worst daily decline for stocks since October.

On Wednesday the trade deficit for December was lower than expected, coming in at $68.3 billion, however, exports rose 0.3% and imports rose 2.9%.  The pending home sales index for December fell to 4.9% and U.S. Treasury yields held unchanged. Markets seesawed on the earnings reports with coronavirus worries and ended the day mixed. 

On Thursday the fourth quarter GDP was unchanged at 2.1%, while consumer spending was slowing from a strong 3.2% pace to 1.8%. Jobless claims for the week ending January 25th decreased 7,000 to 216,000. Markets close higher as positive earnings offset coronavirus fears.

On Friday markets opened lower and fell broadly as investors worried about the potential economic impact of China’s fast-spreading coronavirus. Now let’s take a look at some stocks.

Advanced Micro Devices, Inc. (NASDAQ: AMD) reported its fourth quarter financial results on Tuesday with revenue of $2.13 billion while revenue reached $6.73 billion for fiscal year 2019.  Computing and graphics revenue of $1.66 billion, 30% increase compared to the previous quarter due to strong sales.

Amazon.com, Inc. (NASDAQ: AMZN) reported fourth quarter financial results with sales of $87.4 billion, up 21% compared to a year ago.  For the full year 2019, net sales increased to $280.5 billion, a 20% rise compared to 2018. Share value rose over 10%, breaching $2,075.

Facebook, Inc. (NASDAQ: FB) reported fourth quarter on Wednesday with daily active users of 1.66 billion on average for December 2019, a 9% increase year over year.  For the fourth quarter, capital expenditures was $4.24 billion. The report sent stocks fell below $205.

Tesla, Inc. (NASDAQ: TSLA) reported fourth quarter results with gradual increases in production of battery packs since late Q4 at their Shanghai factory.  For the full year 2019, Tesla reported $359 million operating income. Revenues were positively impacted by vehicle deliveries, sending shares 10% higher. 

Coca-Cola Company (NYSE: KO) reported strong growth for the last quarter of 2019 with 134% increased EPS of $0.47. Coca-Cola reported a net revenue growth of 16%, to $9.1 billion for the fourth quarter and for the full-year 2019 growth of 9%, to $37.3 billion.