Earnings Reports Reshuffle the S&P 500

Originally published on Investopedia.com

The full stock market rally hit the brakes as U.S. equities ended mixed on the latest round of corporate earnings reports. The Dow continued its winning ways, but the S&P 500 slipped 0.7%, while the Nasdaq tumbled almost 2%.

5 S&P 500 Stocks That Posted Gains

Johnson & Johnson

Shares of Johnson & Johnson (JNJ) were up 6% after the pharmaceutical and medical products firm posted better-than-expected results and raised its guidance on higher demand for its medtech products.

IBM

Shares of IBM (IBM) gained 2% after the tech giant exceeded quarterly earnings estimates as productivity rose following layoffs and emphasized client demand for its AI products.

Zions Bancorporation

Shares of Zions Bancorporation (ZION) jumped 10% as the regional bank reported deposits rose about 7% in the second quarter.

United Airlines

Shares of United Airlines (UAL) picked up 3% as the carrier posted record quarterly earnings, and said it expects strong travel demand in the current quarter.

Abbott Laboratories

Shares of Abbott Laboratories (ABT) added 4% as the medical device manufacturer’s earnings were better than expected following a spike in surgical procedures.

Discover Financial Services

Shares of Discover Financial Services (DFS) slumped 16% as the credit card provider’s profit missed estimates, and it said it was under investigation by regulators over incorrectly classifying some credit cards.

Tesla

Shares of Tesla (TSLA) sank almost 10% after the electric car maker posted a decline in operating margin, and CEO Elon Musk suggested more price cuts may be needed to boost sales.

Netflix

Shares of Netflix (NFLX) tumbled 8% after the biggest streaming service reported revenue that was less than expected despite a surge in subscribers following the company's crackdown on password sharing.

Equifax

Shares of Equifax (EFX) sank almost 9% as the credit rating service reduced its full-year outlook because of slumping mortgage demand.

PulteGroup

Shares of PulteGroup (PHM) fell 5% following a report that showed home sales dropped in June.