American stocks were mixed on Wednesday as the earnings season continued and as investors waited for the latest Federal Reserve decision. The Dow Jones rose by over 65 points while the S&P 500 and Nasdaq 100 indices fell by over 10 basis points. 

The earnings season has been quite successful. Data by FactSet shows that 46% of all companies in the S&P 500 index had published their results on Friday last week. Of these companies, 77% reported positive EPS estimates while 60% reported strong revenue surprises. 

Companies have had mixed reactions to their earnings. Starbucks, CVS, Leggett & Platt, Super Micro Computer, Norwegian Cruise Line, and Estee Lauder stock prices plunged by more than 10% after their results.

On the other hand, companies like Root, Pinterest, and Lendingclub Corp jumped by more than 12% after their earnings. Root’s revenue grew by over 100% in the quarter while Pinterest recorded stronger revenues and lower losses. 

The earnings season will continue on Thursday. Moody’s (MCO) stock price has plunged by over 8% ahead of its earnings on Thursday. The rating agency is expected to report revenues of about $1.7 billion, a 20% increase from the same period in 2023.

Moody’s is a beloved company that provides corporate and government bond ratings globally. It also provides analytics solutions to companies, governments, and non-government organizations. It mostly competes with the likes of S&P Global and Fitch.

Bookings (BKNG) stock price has also plunged by more than 12.50% from its highest level this year and is hovering at its lowest point since January this year. The company is expected to release revenues of over $4.25 billion, a 12.60% increase from the same quarter in 2023.

Booking Holdings, the parent company of Priceline, KAYAK, Agoda, OpenTable, and HotelTonight, is doing well as the travel industry rebounds. Hospitality companies like Hilton, Marriott, and Trip.com have published strong results in the past few months. The same is true with airlines like Delta and EasyJet.

Meanwhile, DraftKings (DKNG) stock price crashed by over 14% from its highest level this year. These results are expected to come in at $1.12 billion, a 46% increase from the same period. It will benefit from the ongoing demand for sports betting.

Amgen stock price has collapsed by over 15% from the highest point this year, meaning that it is in a correction. The average estimate is that the revenue rose by 13.70% to $6.94 billion.

Other companies to watch on Thursday will be firms like Iron Mountain, Live Nation, Blue Owl, Apple, ConocoPhillips, Amgen, Novo Nordisk, The Southern Company, Intercontinental Exchange, and Apollo Global Management.

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