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MarketWatch MarketPulseOct 16, 2019
Bank of America's stock rises toward 6-day win streak earnings beat, upbeat CEO comments on the economy
Shares of Bank of America Corp. rallied 2.3% toward a sixth straight gain in morning trading Wednesday, after the bank beat third-quarter earnings expectations and provided an upbeat outlook on the U.S. economy. That would match the 6-day win streak ending Jan. 18. Chief Executive Brian Moynihan said on the post-earnings conference call with analysts that despite repeated discussions around a potential recession and concerns over the impact of the U.S.-China trade war, the bank's activities suggests the U.S. economy is in "solid shape" and the consumer continues to benefit by strong employment prospects." Moynihan said he should know, since BofA's annual customer outgoing payments of nearly $3 trillion represents about 15% of the U.S. economy. He said consumer payments are up 6% year to date from the same period a year ago. In addition, Moynihan said commercial loans grew 6%, including 6% growth in the small-business segment. "These are tangible examples that the U.S. economy is in solid shape despite the worries about trade wars, capital investment slowdowns and other global macro conditions," Moynihan said, according to a FactSet transcript. Moynihan did say, however, the bank managed to generate operations savings despite a lower interest rate environment and "other revenue challenges with a slowing economy." The stock has gained 6.6% over the past 12 months, while the Dow Jones Industrial Average has advanced 4.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Yahoo BusinessOct 16, 2019
Netflix Results Will Test Investors' Mettle as Competition Looms
(Bloomberg) -- The stakes are often high when Netflix Inc. reports results: Stock swings of 10% or more aren't uncommon. But with the shares down more than a fifth since the streaming giant disappointed investors in July, the risk of another plunge may be lower this time around.When Netflix posts results after markets close Wednesday, analysts expect an increase of about 800,000 U.S. subscribers for the third quarter and about 6 million internationally. Whether or not the company hits those targets may depend on how much Netflix's new programming resonated with viewers.The timing of Netflix's latest shows probably helped subscriber growth, said Third Bridge's Scott Kessler, who cited the new season of "Stranger Things" as a potential driver. Netflix also may have gotten a boost from a competitor's show, HBO's "Game of Thrones," ending its run.Gerber Kawasaki Inc., a Netflix investor, also expects "a pop from the people moving from HBO and resubscribing," thanks to "Stranger Things."Still, Gerber investment adviser Nick Licouris said the firm has been reducing its position because of looming competition from Apple Inc., Walt Disney Co., AT&T Inc. and Comcast Corp. The Santa Monica, California-based wealth manager holds more than 12,000 shares valued at almost $3.7 million, according to a June regulatory filing.The earnings report this afternoon "is a heavily debated setup, the trickiest one in a while," said Lynx Equity analysts KC Rajkumar and Jahanara Nissar. The firm called it "a high-wire act" where "much could go wrong."Given that Netflix has been growing so much faster internationally, analysts will be eyeing the company's progress -- and spending -- in key

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