Stocks Ended Higher amid Strong Earnings Results

U.S. stocks ended higher on Tuesday as a host of major companies reported quarterly results that beat Wall Street’s expectations. The Dow Jones Industrial Average rose 67.89 points, or 0.26%, to 26,452.66. The S&P 500 added 1.48 points, or 0.05%, to 2,907.06. The Nasdaq Composite gained 24.21 points, or 0.30%, to 8,000.23.

Oil futures finished higher on Tuesday, as investors awaited weekly petroleum data, which may reveal a fourth straight weekly rise in domestic crude inventories and declines in product supplies. West Texas Intermediate crude for May delivery rose 65 cents, or 1%, to settle at $64.05 a barrel. June Brent crude added 54 cents, or 0.8% to $71.72 a barrel on ICE Futures Europe.

Netflix (NFLX) delivered disappointing guidance for the fiscal second quarter, overshadowing strong subscriber additions for the first three months of the year. The company delivered diluted earnings of 76 per share on revenue of $4.52 billion for the fiscal first quarter of 2019. It added 9.6 million total new subscribers in the first quarter of the year.

International Business Machines Corp reported a bigger-than-expected drop in quarterly revenue on Tuesday, an indication that its efforts to pivot to newer businesses such as cloud, analytics, software and services remained patchy at best.The company’s revenue slipped 4.7 percent to $18.18 billion in the first quarter ended March 31 and missed analysts’ average estimate of $18.46 billion.

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