NEW YORK, NY / ACCESSWIRE / January 25, 2019 / U.S. equities were mixed on Thursday as stronger-than-expected quarterly earnings werent enough to outweigh concerns of a global economic slowdown. The Dow Jones Industrial Average was down 0.09 percent to settle at 24,553.24, while the S&P 500 climbed 0.14 percent to close at 2,642.33. The Nasdaq jumped 0.68 percent to settle at 7,073.46.
"We've seen Q4 growth slightly edge up," said Erin Gibbs, portfolio manager at S&P Global. "We're even starting to see 2019 earnings revise up, and it's still very early in the season," Gibbs added.
The Market Wealth Report Initiates Coverage on:
Western Digital Corporation
Seagate Technology plc
Western Digital's stock jumped 6.7% Thursday, to close the day at $40.14. The stock recorded a trading volume of 15,720,717 shares, which was above its three months average volume of 6,913,185 shares. In the last year, Western Digital's shares have traded in a range of 33.83 - 106.96. The share price has gained 18.65% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $38.65 is below its 200-day moving average of $54.23. Shares of the company are trading at a Price to Earnings ratio of 24.36. Shares of Western Digital have gained roughly 14.49 percent in the past month and are up 8.57 percent year-to-date.
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On Thursday, shares of Seagate Technology recorded a trading volume of 5,072,138 shares, which was above the three months average volume of 4,337,039 shares. The stock ended the day 5.7% higher at $40.97. The share price has fallen 34.66% from its 52 week high with a 52 week trading range of 35.38 - 62.70. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $38.79 is below its 200-day moving average of $46.55. Shares of the company are trading at a Price to Earnings ratio of 8.24. Shares of Seagate Technology have gained roughly 13.4 percent in the past month and are up 6.17 percent year-to-date.
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SOURCE: Market Wealth Report