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Dow Trades Higher and Nasdaq stumbled across Apple's earnings



Here are 3 good things to know about shares right now

  • Dow Jones Industrial Average rises Tuesday, when shares in 3M Co. (MMM) moved higher but Verizon Communications Inc. (VZ) fell.
  • Pfizer Inc. (PFE) increased 2% after reporting solid fourth quarter earnings, but issued weaker than expected 2019 guidance.
  • 3M said it was reducing its 2019 earnings outlook, but was placed for a "successful 2019." The share rose by 3.2%.

Wall Street Overview

The stocks were largely lower on Tuesday, January 29, when investors digested a number of corporate revenue reports while worried that a US decision to pursue criminal charges against the finance director of China's largest technology firm could stop progress in trade negotiations between the world's two largest economies.

The move to leave Wanda Wanzhou, CFO Huawei Technologies Co., came just before China Vice Premier Liu He is set to arrive in Washington for high-level business talks that both parties hope can push the negotiations forward as a deadline for 1

. March.

"The company denies that it or its subsidiary or subsidiary committed any of the alleged violations of US law laid down in each of the alleged infringements," Huawei said in a statement.

Meng, also a daughter of the company's founder, was arrested in Canada last month at the request of the United States and a prosecutor she misled the authorities about her business in Iran to circumvent US sanctions. The United States seeks to hand her over to face charges in the United States

United States. Minister of Commerce Wilbur Ross insisted that the taxes were "completely separate" from the trade negotiations. But the timing of the charges can be seen as a major risk to an agreement, especially because a number of US companies have mentioned slowing down China's growth as a reason for weaker-than-expected fourth-quarter earnings and weak 2019 earnings.

The Dow Jones Industrial Average was up 5 points or 0.02% to 24.533, S & P 500 decreased 0.39%, and Nasdaq was down 0.95%.

Investors will monitor the start of the two-day Federal Open Market Committee meeting, the Federal Reserve policy. The body is expected to maintain the federal tax rate of 2.25% to 2.5%, and most economists do not expect a Fed rate hike to at least June.

Meanwhile, consumer confidence in January fell to 120.2 from the 128.1 month before, and was below economists estimates of 124.9. Economists blamed the 35-day government interruption that ended on January 25 for the downturn.

3M Co. (MMM) reported a fourth quarterly adjusted earnings of $ 2.31 a year. Share and beat analysts' expectations at $ 2.28, but the Scotch tape manufacturer and Post-it Notes said it cut 2019 earnings prospects to $ 10.45 to $ 10.90 a share from previous guidance of $ 10.60 to $ 11.05.

However, the company said it was placed on a "successful 2019" despite growing concerns over global demand for a slowdown in China.

3M shares rose 3.2%.

Pfizer Inc. (PFE) reported solid fourth-quarter earnings, but issued weaker than expected 2019 guidance as the exclusivity of its central epilepsy treatment Lyrica comes to an end. The stock increased by 2%.

Pfizer said earnings for the three months ending in December were 64 cents a share topping the Wall Street consensus of 63 cents. Revenue was DKK 13.98 billion. USD, an increase of 2% from the fourth quarter of 2017 and before the estimate of 13.9 million. $.

However, Pfizer considered that it expects a full-year earnings of between $ 2.82 and $ 2.92 a share, especially lower than the Refinitiv forecast of $ 3.04 and a sales of around $ 52 billion. $ 54 billion dollars.

Verizon Communications Inc. (VZ) earned $ 1.12 per. share on an adjusted basis in the fourth quarter, when analysts' estimates were estimated at 3 cents income of DKK 34.3 billion. $ came a little under forecasts.

The company said fourth quarter retail down payment net 1.2 additions, including 653,000 phone net additions and 873,000 postpaid smartphone net additions. In the quarter, Fio's internet connection was 54,000, and forecasted 45,300.

The telecommunications giant said it expects adjusted earnings in 2019, corresponding to 2018's adjusted profit of $ 4.71. It added that it sees "low single-digit percentage growth in full-year consolidated revenue on a GAAP reported basis." The stock fell 2.3%.

Lockheed Martin Corp. (LMT) recorded modestly weaker than expected fourth-quarter earnings, but said the 2019 outlook has improved due to the demand for the F-35 aircraft. Shares rose 1.5%.

Revenue reports are expected after Tuesday's closing bell from Apple Inc. (AAPL), Advanced Micro Devices Inc. (AMD) and eBay Inc. (EBay).

Apple is a holding company in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be aware before Cramer buys or sells the stock? Learn more now.

Apple is a stake in Jim Cramers Action Alerts PLUS Charitable Trust Portfolio. Want to be aware before Cramer buys or sells the stock? Learn more now. PG & E Corp. (PCG) filed for Chapter 11 Bankruptcy Protection Tuesday, when the California Supply, the largest in the nation, seeks to manage liabilities that can reach $ 30 billion over state death fires in 2017 and 2018.

The stock was 16 , 1% Tuesday to $ 13.95.

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