NEW YORK, NY / ACCESSWIRE / October 19, 2017 / All three major Indexes closed in the green Wednesday on the latest batch of corporate earnings, with the Dow Jones Industrial Average closing above the 23,000 plateau for the first time ever. The Dow Jones jumped 0.70 percent to close at 23,157.60, while the S&P 500 Index increased 0.07 percent to close at 0.07 percent. The NASDAQ Composite Index eked out a slight gain of 0.01 percent to close at 6,624.22. On Wednesday, International Business Machines Corp. was the latest major company to report results that topped expectations. The company reported earnings per share of $3.30 on revenues of $19.15 billion for the third quarter of 2017, which topped estimates of earnings of $3.28 per share on sales of $18.6 billion, according to analysts' surveyed by Reuters.
"Retail investors continue to pour into the marketplace, and with each headline about a new record, and especially round numbers like that, people tend to feel like they're missing out and you kind of suck more people into the market," said Ian Winer, head of equities at Wedbush Securities in Los Angeles, according to Reuters.
"Ultimately, the only way you're going to top is by getting everybody all in. And we're getting close."
RDI Initiates Coverage on:
Chesapeake Energy Corporation
https://rdinvesting.com/news/?ticker=CHK
Encana Corporation
https://rdinvesting.com/news/?ticker=ECA
Chesapeake Energy Corporation's stock edged 0.26% lower Wednesday, to close the day at $3.77. The stock recorded a trading volume of 19,526,387 shares, which was below its three months average volume of 30,813,400 shares. In the last year, Chesapeake Energy Corporation's shares have traded in a range of 3.55 - 8.20. The stock is currently trading 54.02% below its 52 week high. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $4.01 is below its 200-day moving average of $4.79. Shares of Chesapeake have fallen approximately 46.3 percent year-to-date.
Access RDI's Chesapeake Energy Corporation Research Report at:
https://rdinvesting.com/news/?ticker=CHK
On Wednesday, shares of Encana Corporation recorded a trading volume of 35,316,377 shares, which was above the three months average volume of 12,218,600 shares. The stock ended the day 3.24% higher at 11.79. The share price has gained 47.19% from its 52week low with a 52-week trading range of 8.01 - 13.85.The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $10.63 is greater than its 200-day moving average of $10.19. Shares of the company are trading at a Price to Earnings ratio of 14.05. Shares of Encana have gained approximately 0.43 percent year-to-date.
Access RDI's Encana Corporation Research Report at:
https://rdinvesting.com/news/?ticker=ECA
Our Actionable Research on Chesapeake Energy Corporation (NYSE: CHK) and Encana Corporation (NYSE: ECA) can be downloaded free of charge at Research Driven Investing.
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