NEW YORK, NY / ACCESSWIRE / January 16, 2019 /U.S. markets rose on Tuesday as Netflix helped push the tech sector higher after announcing it would raise the price of its monthly membership. Tech giants Alphabet, Amazon, Apple and Facebook all saw gains of over 2 percent on Tuesday. The Dow Jones Industrial Average jumped 0.65 percent to settle at 24,065.59, while the S&P 500 hiked 1.07 percent to close at 2,610.30. The Nasdaq advanced 1.71 percent to settle at 7,023.83.
"Investors will likely view this above-Street estimate increase quite positively, bolstering confidence in subscriber trends, pace of revenue growth and ability to achieve guidance for margin gains," said Credit Suisse analyst, Doug Mitchelson.
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Alphabet's stock jumped 3.11% Tuesday, to close the day at $1,077.15. The stock recorded a trading volume of 1,452,250 shares, which was below its three months average volume of 1,926,171 shares. In the last year, Alphabet's shares have traded in a range of 970.11 - 1,273.89. The share price has gained 11.03% 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 $1,050.10 is below its 200-day moving average of $1,128.89. Shares of the company are trading at a Price to Earnings ratio of 40.42. Shares of Alphabet have gained roughly 3.36 percent in the past month and are up 4.01 percent year-to-date.
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On Tuesday, shares of 58.com recorded a trading volume of 857,155 shares, which was below the three months average volume of 1,081,553 shares. The stock ended the day 3.5% higher at $57.14. The share price has fallen 36.44% from its 52 week high with a 52 week trading range of 50.30 - 89.90. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $56.93 is below its 200-day moving average of $64.51. Shares of the company are trading at a Price to Earnings ratio of 28.15. Shares of 58.com have fallen roughly 4.77 percent in the past month and are up 5.4 percent year-to-date.
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