Walt Disney (DIS), Cisco Systems (CSCO) and Applied Materials (AMAT) beat analyst forecasts but remained below recent highs. Less prominent companies including Chinese e-commerce firm Pinduoduo (PDD) and cannabis stock GrowGeneration (GRWG) surged to new territory.
Cisco Systems (CSCO), Take-Two Interactive Software (TTWO) and Booking (BKNG), and JD.com (JD) all rallied after reporting quarterly numbers. Some beat consensus, others lagged. Regardless, investors found something to like.
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.