This week could make or break the rally. Investors are gearing up for the busiest week of earnings with more than 140 S&P companies and 12 Dow components set to post results. Last quarter, a number of companies warned that slowing global growth as well as international trade tensions could weigh on their bottom lines,
American Express on Thursday reported lower earnings in the first quarter but earnings per share beat estimates. The New York-based company said it had net income of $1.55 billion, or $1.80 per share. Earnings, adjusted for non-recurring costs, came to $2.01 per share. The results surpassed Wall Street expectations. The average estimate of eight analysts
Luke Sharrett | Bloomberg | Getty Images A Pier 1 Imports retail store stands in Louisville, Kentucky. Chief Executive Officer Alasdair James stepped down in December after his turnaround efforts failed to deliver results. The company had then said it was evaluating strategic options, but may not result in a sale. The company named director of
Rival Nestle also reported better-than-expected first-quarter sales on Thursday. Following its first quarter under new chief executive Alan Jope, Anglo-Dutch Unilever also stood by its 2020 target for an underlying operating margin of 20 percent, set by Jope’s predecessor Paul Polman in the wake of 2017’s rebuffed $143 billion takeover offer by Kraft Heinz. Unilever’s
“The thing that gets the highest price-to-earnings value is net interest income, and that was just killed by what the Fed did,” said Charlie Peabody, an analyst at Portales Partners. “The flatness of this yield curve can endure, which is very negative for banks.” Bank of America wasn’t the only one to issue a warning.
“NFLX’s first quarter earnings may be controversial to some — mostly because of the light second quarter [subscription] outlook — but we think there’s much more to like here than not,” J.P. Morgan analyst Doug Anmuth said in a note to clients after the report. “We continue to believe that Disney+ will not be a
Morgan Stanley on Wednesday posted profit and revenue that exceeded analysts’ expectations on better-than-expected results in wealth management and fixed-income trading. The bank said it generated $2.4 billion in first-quarter profit, or $1.39 per share, compared with the $1.17 estimate of analysts surveyed by Refinitiv. Morgan Stanley’s revenues of $10.3 billion beat the $9.94 billion
PepsiCo shares jumped to a record high on Wednesday after the beverage and food giant reported quarterly earnings and revenue that topped analysts’ expectations, thanks to continued growth internationally and by its Frito-Lay snack business. Shares of the company rose 3% during morning, to a record $126.85 per share and boosting the market value to
United Continental Holdings, the parent company of United Airlines, reported first-quarter earnings Tuesday that beat Wall Street profit expectations but fell shy of revenue estimates, as the airline grapples with the prolonged grounding of Boeing’s 737 Max jets. Here’s what the company reported versus what analysts polled by Refinitiv expected: Adjusted earnings per share: $1.15
Shares of IBM fell as much as 4 percent on Tuesday after the company said it generated less revenue than analysts had expected in the first quarter. Here are the major numbers: Earnings: $2.25 per share, excluding certain items, vs. $2.22 per share as expected by analysts, according to Refinitiv. Revenue: $18.18 billion, vs. $18.46
Disney will pull its movies from Netflix this year to stream on its own new service, Disney+ instead. But CEO Reed Hastings said on a live-streamed earnings interview following the report that he’s unconcerned about the loss of content from third-parties and is focused on building up Netflix’s own original content library. “We’ve expected this
Bank of America shares dropped Tuesday after executives said the lender’s net interest income growth was falling because of declining interest rates and a slowing U.S. economy. Despite posting a record first-quarter profit driven by cost cuts and strength in the bank’s Main Street lending operations, shares of the company fell 2.7% at 10:09 a.m.
Johnson & Johnson‘s mounting legal costs ate into its first-quarter profits, which dropped 14% as it fights thousands of lawsuits over its talc baby powder and shelled out almost $400 million to settle 25,000 cases over its blockbuster blood thinner Xarelto. Still, the health company on Tuesday reported better-than-expected earnings, and its shares closed up
BlackRock, the world’s largest asset manager, reported a better-than-expected first-quarter profit and garnered tens of billions of new investor cash as global financial markets rebounded from a volatile fourth quarter. Net income attributable to BlackRock fell to $1.05 billion, or $6.61 per share, in the three months ended March 31, from $1.09 billion, or $6.68
UnitedHealth reported a first-quarter profit above estimates and raised its 2019 earnings forecast, driven by strength in its pharmacy benefit management business and higher enrollment for its health plans. The largest U.S. health insurer’s shares rose 2% to $235 in pre-market trading. The industry bellwether, which is the first health insurer to report quarterly results,
U.S. banks have delivered a mixed bag of first-quarter financial results so far — but that’s probably the sector’s best this year, especially if the Federal Reserve does not increase interest rates at all, according to a Citi analyst. Four of the six largest American banks have released their first-quarter financial results over the past
Financials stocks came under pressure Monday after declining revenue from Citigroup and Goldman Sachs soured the positive earnings news out from J.P. Morgan last week. Ahead of earnings from Bank of America and Morgan Stanley later this week, five experts weigh in on the mixed quarter for the big banks so far. Chris Verrone, head
Citigroup reported mixed first-quarter results on Monday, saying its earnings were boosted by share buybacks while revenues fell amid a sharp decline in equities trading. Here’s how the company’s results measured up to analyst forecasts: Earnings: $1.87 per share vs $1.80 expected by Refinitiv Revenue: $18.576 billion vs $18.634 billion forecast Fixed-income, currencies and commodities
Goldman Sachs shares declined after posting first-quarter revenue below analysts’ estimates on tougher market conditions for the firm’s trading and investing divisions. The bank said Monday that revenue dropped 13 percent to $8.81 billion, below analyst’s $8.9 billion estimate. Meanwhile, the firm generated $2.25 billion of profit in the period, or $5.71 a share, exceeding
Wells Fargo reported better-than-expected quarterly earnings on Friday as consumer transactions and auto loans picked up. Here’s how the company’s results compared with expectations in a Refinitiv survey of Wall Street analysts: Earnings: $1.20 per share vs $1.09 per share expected Revenue: $21.609 billion vs $21.012 billion forecast Shares of Wells Fargo rose half a
PNC Financial’s first-quarter profit met analysts’ estimates on Friday, as a rise in expenses and provision for credit losses overshadowed growth in interest income and loans. The lender’s expenses rose 2% to $2.58 billion, while provision for loan losses more than doubled to $189 million from a year ago. Net interest income rose about 5%
J.P. Morgan Chase on Friday reported record first-quarter profit and revenue that exceeded analysts’ expectations as the bank benefited from higher interest rates. The company said profit rose 5 percent to $9.18 billion, or $2.65 a share, compared with analysts’ average estimate of $2.35 a share. Revenue also rose 5 percent to $29.9 billion, exceeding
Delta Air Lines generated record revenue and posted first-quarter earnings Wednesday that beat Wall Street’s expectations for both profit and revenue. “Demand for Delta’s product has never been stronger,” President Glen Hauenstein said in a statement announcing the earnings. “With our customer-focused commercial initiatives delivering strong customer loyalty and top-line momentum, we now expect full-year
Quarterly earnings for the S&P 500 are expected to decline for the first time since the second quarter of 2016, even though the index is just 2% from its historic high. First-quarter earnings for the S&P 500 are projected to decline 2.5% from last year, according to Refinitiv consensus estimates. Stocks up with earnings down?
Lucas Jackson | Reuters Levi Strauss & Co. CEO Chip Bergh rings the opening bell on New York Stock Exchange (NYSE) during the company’s IPO in New York, U.S., March 21, 2019. Shares of Levi Strauss & Co. rose in extended trading Tuesday after the world’s biggest jeans seller reported its first quarterly earnings since
Shannon Stapleton | Reuters An American Airlines Boeing 737 Max 8, on a flight from Miami to New York City, comes in for landing at LaGuardia Airport in New York, March 12, 2019. The prolonged grounding of Boeing’s 737 Max jets forced American Airlines on Tuesday to cut its revenue guidance for the first quarter.
It’ll be a bad sign for the market if J.P. Morgan Chase’s stock doesn’t rally when it reports earnings next week, Jim Cramer said Thursday. J.P. Morgan is scheduled to report first-quarter earnings before the market opens on April 12. Cramer, host of CNBC’s “Mad Money,” said the bank has been a “lead dog” of
Constellation Brands said strong beer sales helped it to beat Wall Street’s expectations for its fiscal fourth-quarter as it positions itself to adapt to changing consumer tastes. Shares of the Corona and Modelo beer producer rose 4 percent in morning trading Thursday. The stock has a market value of $34.43 billion. U.S. consumers have increasingly
GameStop on Tuesday warned of a potential first-quarter loss as the world’s largest video game retailer wrestles with slowing sales of video games and consoles at its stores. Shares of the company fell 7.52 percent to $9.34 in extended trading after GameStop also reported quarterly revenue below analysts’ estimates. GameStop has struggled in the face
Airline stocks jumped Tuesday after Delta Air Lines said record performance and healthy demand drove the carrier to raise its earnings and revenue guidance for the first quarter. Delta’s shares jumped 6.6 percent while United and American rose 4.7 percent and 2.2 percent, respectively. Southwest Airlines, JetBlue, Spirit and Alaska Air Group were all trading