Executives told investors revenue will grow more than 50 percent annually for “multiple” years, according to reports on Reuters, Bloomberg and CNBC. That’s more than 12 percentage points above the previous consensus estimate for next year.
JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC) reported third-quarter results this week. JPM and C beat estimates across the board, partially because of stock and bond trading.
The Nasdaq-100 rose 4.2 percent between Friday, October 2, and Friday, October 9. It was the index’s third straight positive week, and its best performance since early July. Its gain was also twice the advance of the broader S&P 500 index.
Apple (AAPL), which didn’t even make the Top 10 in June or July, was the busiest stock at TradeStation last month. The surge in activity came after a transformative earnings report drove the smart-phone giant into new record territory.