Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.6%), Nasdaq Composite (+0.7%), and DJIA (+0.4%) maintain their solid early gains. 

While not the market-moving events of later mega-cap earnings scheduled this week, there are still a few notable moves in reaction to this morning's batch of earnings reports. 

Baker Hughes (BKR 55.96, +2.04, +3.77%) is trading with solid gains after the company beat Q4 EPS and revenue estimates and reported adjusted EBITDA of $1.34 billion, which exceeded the midpoint of its guidance and contributed to a record full-year result. This upside was largely fueled by the Industrial & Energy Technology (IET) segment, which saw margins reach a record 20% behind robust project execution and strong backlog pricing.

Meanwhile, Steel Dynamics (STLD 176.12, -5.20, -2.87%) is trading lower after reporting fiscal Q4 results, despite delivering its largest EPS beat in the past seven quarters. Revenue increased 14.0% year-over-year to $4.41 billion, though it came in modestly below analyst expectations. Q4 revenue of $4.41 billion missed estimates slightly, though the quarter is seasonally slower due to winter weather and holiday-related downtime.