Dow Jones futures rose higher late Thursday, along with S&P 500 futures and Nasdaq futures, after the stock market drew on mixed earnings. Chip executives Nvidia (NVDA) and Applied Materials (AMAT) reported revenue after closing. Warren Buffett's Berkshire Hathaway (BRKB) revealed a stake in RH (RH) while trimming his Apple stock. Meanwhile, an FDA panel supported another use of a key Amarin (AMRN).
The Nvidia stock fell modestly on weak guidance. The AMAT stock rose, signaling a probable buying opportunity. The Amarin stock remained under wraps after being stopped through Thursday's session, but is not far from a buy point. The RH share rose sharply, suggesting a buying opportunity as well. Apple (AAPL) edged lower.
Apple stock is on the IBD Leaderboard. The same is the Nvidia share, along with several other chip names.
Dow Jones Futures Today
Dow Jones futures were just above fair value. S&P 500 futures and Nasdaq 100 futures also rose slightly. Keep in mind that overnight action in Dow futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.
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Current stock market rally
The current stock market rally showed resilience on Thursday, and largely pulled out a large sales sale in Cisco Systems (CSCO) on weak guidance.  The Dow Jones industrial average fell less than two points. The S&P 500 index rose 0.1%, while the Nasdaq composite margins went lower.
Leading stocks did well, with a few more moving into buying zones, including Global Payments (GPN) and Epam Systems (EPAM).
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) rose 0.5%. IShares Expanded Tech-Software Sector ETF (IGV) climbed 0.2%. VanEck Vectors Semiconductor ETF (SMH) dipped 0.2%.
Nvidia revenues came in at $ 1.78 per share as revenues fell 5% to $ 3.01 billion. Wall Street had targeted Nvidia earnings per share of $ 1.57 on revenue of $ 2,901 billion.
However, Nvidia was low on sales.
The Nvidia share fell 1.2% late. Shares closed 0.6% at 209.79. The Nvidia stock has been trading close for the past couple of weeks, but has expanded from a recent outbreak.
Applied Materials Earnings
Applied Materials revenue came in at 80 cents a share as fiscal fourth quarter revenue dropped a fraction to $ 3.75 billion. Analysts predict Applied Materials' earnings of $ 76 a share on revenue of $ 3.664 billion.
Applied Materials sees a financial Q1 EPS of $ 87 to $ 95 of revenue of $ 4.10 billion in the middle. Analysts expected Applied Materials earnings per share of $ 72 and sales of $ 3.705 billion.
The AMAT share rose 3.8% to 59.15, signaling a probable buying opportunity. Shares closed 0.3% at 56.96. The AMAT stock is extended from a buy point of 52.52 cups, but it has formed a three-week close pattern with a record of 57.39.
RH Stock Gets Warren Buffett Bounce
RH stock rose 7.3% late after Warren Buffett & # 39; s Berkshire Hathaway revealed that it started a small stake in the exclusive home furniture retailer. After finding support on its 50-day line for several days, the RH stock is set to rebound bullishly from that key level.
Apple Stock Holdings Sliced
Warren Buffett trimmed Berkshire's Apple stock with 750,000 shares. Apple shares fell a fraction of late. In Thursday's season, shares hit a record high intraday, but dropped 0.7% amid a rare sell rating for the Apple stock.
It looks like the Apple stock is taking the negative news in stride. As long as the world's most valuable company and member of the Dow Jones, S&P 500 and Nasdaq are still leaders, the stock market is a good chance to thrive.
FDA Panel Backs Amarin Drug Vascepa
An FDA Advisory Committee voted 16-0 to support the cardiovascular benefit of Amarin & # 39; s Vascepa, its high triglyceride drug. The panel supports Amarin showing Vascepa to reduce the risk of heart attack and other cardiovascular events. The FDA will review the idea in December.
Amarin stock was not active late. Shares did not trade on Thursday after rising 27% to 21.55 in the previous two sessions. Analysts see a big new market opportunity for Vascepa, and predict that the Amarin stock will continue to rise. The Amarin stock is moving toward a buy point of 24.01 cups.
Follow Ed Carson on Twitter at @IBD_ECarson for updates on the stock market and more.
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