|Bid||80.58 x 2900|
|Ask||81.17 x 4000|
|Day's Range||80.55 - 81.52|
|52 Week Range||47.71 - 85.33|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||1.21%|
|Beta (5Y Monthly)||1.22|
|Expense Ratio (net)||0.13%|
Shares of Illinois Tool Works Inc. were indicated up more than 1% in premarket trading Friday, after the multi-industrial manufacturer reported third-quarter profit and revenue that fell, amid the negative impacts of the COVID-19 pandemic, but beat Wall Street expectations. Net income declined to $582 million, or $1.83 a share, from $660 million, or $2.04 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.47. Revenue fell 4.9% to $3.31 billion, but was above the FactSet consensus of $2.98 billion. Operating margin declined to 23.8% from 25.0%, weighed down by lower volume and higher restructuring expenses. The stock has advanced 12.3% year to date through Thursday, while the SPDR Industrial Select Sector ETF has slipped 0.8% and the S&P 500 has gained 6.9%.
Shares of General Electric Co. charged up 5.2% in afternoon trading Thursday, putting them on track to close at the highest price in more than four months, amid a Bloomberg report that the industrial conglomerate could sell off its majority stake in a steam power business in China. Bloomberg reported, citing people familiar with the matter, that state-owned Wuhan Boiler Group Co. is considering buying GE's 51% stake in Wuhan Boiler Co., in a deal that could value GE's stake at a few hundred million dollars. GE's stock, which is headed for the highest close since June 9, has now soared 23.6% in October, making it the best month-to-date performer among the SPDR Industrial Select Sector ETF's components. Meanwhile, the industrials ETF has gained 4.9% this month and the S&P 500 has tacked on 2.7%.
Just because buying is back doesn't mean volatility is over, as nobody knows how long the current lull in uncertainty will last.