Facebook (FB) smashed earnings expectations--again. Shares are hitting record highs in the pre-market. Facebook blew away earnings estimates by reporting a profit of $2 billion. It's mobile advertising business is strong and it says it has 1.7 billion active monthly users. Groupon (GRPN) shares are also surging. It also exceeded expectations. The online coupon company raised its financial projections for the year and now expects $3.1 billion in revenue. Groupon says it added more than a million new customers in the quarter. Amgen (AMGN) raised its profit forecast. Sales of key drugs like Enbrel helped boost the bottom line. The Wall Street Journal also says Amgen has promising new drugs, like Repatha, which is one of a new wave of cholesterol lowering treatments that was approved by the Food and Drug Administration last month.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.