In the last week, companies like Walt Disney (DIS), Allergan (AGN), Electronic Arts (EA) and KLA Tencor (KLAC) beat estimates, only to drift or fall. The tepid response comes amid fears about a renewed trade war with China, plus buyer fatigue after four months of solid gains.
The first major theme was a rebound in beaten down social-media stocks
Facebook (FB) and Snap (FB). Both showed signs of repairing different kinds of problems plaguing their businesses. FB’s big achievement was to keep drawing advertiser dollars – especially from its new Stories format and video service.