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9:18 p.m. Oct. 30, 2019 - By Olivia Bugault
Safran revenue rises and backs 2019 viewThe French aerospace-and-defense company maintained its 2019 guidance but refined its view regarding the world-wide grounding of the 737 MAX jet.
9:57 p.m. Oct. 29, 2019 - By Olivia Bugault
Airbus cuts 2019 delivery target as it struggles with production woesAirbus cut its 2019 delivery target to roughly 860 aircraft from a previous forecast of 880 to 890 jets for the year, citing “underlying actions to secure a more efficient delivery flow in the next years.”
6:51 a.m. Oct. 26, 2019 - By Vitaliy Katsenelson
Why Tesla’s future might not be in Elon Musk’s hands Success depends in part on factors outside of the company’s controlTesla’s success depends in part on factors outside of the company’s control, writes Vitaliy Katsenelson.
2:40 a.m. Oct. 25, 2019 - By Tomi Kilgore
American Airlines CEO says he wants to make sure Boeing stockholders (not his) pay for 737 MAX-related losses Air carrier’s stock has underperformed its peers and the broader stock market by a wide margin since the 737 MAX was groundedA warning to those who own Boeing Co.’s stock -- American Airlines Co.’s Chief Executive Doug Parker is out to get you.
2:11 a.m. Oct. 24, 2019 - By Ciara Linnane
Raytheon tops profit and sales estimates for Q3, raises guidanceAerospace and defense company Raytheon Co. , which is preparing to combine with United Technologies Inc., said Thursday it had net income of $860 million, or $3.08 a share, in the third quarter, up from $644 million, or $2.25 a share, in the year-earlier period. EPS from continuing operations also came to $3.08, ahead of the $2.86 FactSet consensus. Sales rose to $7.446 billion from $6.806 billion, also ahead of the FactSet consensus of $7.274 billion. The company had bookings of $9.4 billion in the quarter, resulting in a book-to-bill ratio, a measure of the ratio of orders received to the amount billed, of 1.27. It finished the quarter with a backlog of $44.6 billion, up 7% from the year-earlier period. The company said it now expects full-year adjusted EPS of $11.70, up from prior guidance of $11.70, on sales of $29.1 billion to $29.4 billion, up from prior guidance of $28.8 billion to $29.3 billion. Shares were not yet active premarket, but have gained 33% in 2019, while the S&P 500 has gained 20%.
1:59 a.m. Oct. 24, 2019 - By Ciara Linnane
Northrop Grumman blows past profit estimates for Q3 as sales fall shortAerospace and defense company Northrop Grumman Corp. said Thursday it had net income of $933 million, or $5.49 a share, in the third quarter, down from $1.2 billion, or $7.11 a share, in the year-earlier period. The year-earlier number included a $1.01 a share benefit for the settlement of cost claims and 47 cents more for pension-related items. Sales rose 6% to $8.5 billion from $8.1 billion. The FactSet consensus was for EPS of $4.77 and sales of $8.6 billion. Sales the the aerospace systems division rose 5% to $3.458 billion, sales at innovation systems rose 12% to $1.584 billion, sales at mission systems rose 4% to $3.029 billion and technology services sales rose 3% to $1.067 billion. The company's backlog rose to $65.0 billion at end September. Among the big awards won in the quarter include a $1.4 billion order for an additional 9 E-2D Advanced Hawkeye aircraft and related equipment to Japan. The company said it still expects full-year sales of about $34 billion, unchanged from guidance offered in July. Shares were not yet active premarket, but have gained 44% in 2019, while the S&P 500 has gained 20%.
6:02 a.m. Oct. 23, 2019 - By Tomi Kilgore
Boeing's stock rally lifts Dow into positive territoryIf it wasn't for Boeing Co.'s stock rally, the Dow Jones Industrial Average would be fractionally lower. Boeing's stock rallied 2.6% to pace the Dow's gainers, after the aerospace and defense giant reported a third-quarter profit that was well below expectations . The $8.74 price gain would add about 59 points to the Dow's price. Meanwhile, the Dow was up 59 points, or 0.2%, with 16 of 14 components losing ground. The biggest decliner was Nike Inc.'s stock , which fell $2.15, or 2.3%, after announcing late Tuesday that , to shave about 15 points off the Dow, while Caterpillar Inc. shares shed 38 cents, or 0.3% after to cut about 3 points off the Dow.
5:55 a.m. Oct. 23, 2019 - By Ciara Linnane
General Dynamics stock falls after profit beat is offset by revenue missAerospace and defense company General Dynamics Corp.'s shares fell 2.2% Wednesday, after the company topped profit estimates for the third quarter but revenue fell short. Reston, Virginia-based General Dynamics said it had net income of $913 million, or $3.14 a share, in the quarter, up from $851 million, or $2.89 a share, in the year-earlier period. Revenue rose to $9.761 billion from $9.094 billion. The FactSet consensus was for EPS of $3.07 and revenue of $9.767 billion. Margins improved by 110 basis points from the second quarter as deliveries of the Gulfstream G600 started in August. The company said its total backlog at end quarter stood at $67.4 billion. Revenue at the company's aerospace division rose 23% to $2.495 billion, while revenue at the combat systems division was up 14% at $1.740 billion. Technology mission systems revenue fell about 1% to $1.220 billion, and marine systems revenue was up 11.6% at $2.235 billion. The company said its book-to-bill ratio, which measures the ratio of orders received to the amount billed was 1-to-1 in the quarter. "This was a decent quarter from GD and we await further details on guidance on the call, but wouldn't expect major changes in light of today's results," Vertical Research Partners analyst Robert Stallard wrote in a note to clients. "We expect investor focus to be on Gulfstream bookings." Shares have gained 12% in 2019, while the S&P 500 has gained 19.5%.
2:43 a.m. Oct. 23, 2019 - By Tomi Kilgore
Boeing's stock rises, as profit falls well below expectations but revenue beatsShares of Boeing Co. rose 1.2% in premarket trading Wednesday, after the aerospace and defense giant reported third-quarter profit that fell well below expectations while revenue beat, as lower 737 deliveries were partially offset by higher defense and services volume. Net income fell to $1.17 billion, or $2.05 a share, from $2.36 billion, or $4.07 a share, in the year-earlier period. Excluding non-recurring items, adjusted earnings per share declined to $1.45 from $3.58, missing the FactSet consensus of $2.07. Revenue fell 21% to $19.98 billion, but topped the FactSet consensus of $19.61 billion. Commercial airplane deliveries fell 67% to 62, below the FactSet consensus of 65, while the segment's revenue declined 41% to $8.25 billion to beat expectations of $7.78 billion. Defense, space and security revenue grew 2% to $7.04 billion to beat expectations of $6.76 billion. The company said it assumes regulatory approval of the 737 Max's return to service will begin in the fourth quarter, and that it will gradually increase the 737 production rate to 57 per month from 42 per month by late 2020. The stock has shed 9.7% over the past three months through Tuesday, while the Dow Jones Industrial Average has slipped 2.1%.
12:48 p.m. Oct. 22, 2019 - By Emily Bary
Prepare for an earnings trifecta with Boeing, Tesla and Microsoft on deck Caterpillar looks to break its streak of six straight post-earnings selloffsBoeing Co., Tesla Inc., and Microsoft Corp. headline an action-packed slate of Wednesday earnings.
12:48 p.m. Oct. 22, 2019 - By Ciara Linnane
Dow components McDonald’s and Travelers disappoint on earnings, offsetting P&G and United Tech’s gains Hasbro battered as earnings disappoint, but Harley-Davidson soars almost 7% after a profit and sales beatIt was a mixed bag for the four members of the Dow Jones Industrial Average that reported third-quarter earnings on Tuesday, as disappointing numbers from McDonald’s Corp. and Travelers Cos. weighed against beats from United Technologies Co. and Procter & Gamble.
7:43 a.m. Oct. 22, 2019 - By Claudia Assis
Boeing faces a 46% drop in quarterly profit Lower earnings, sales nearly a year after the first 737 Max crashNearly a year after the deadly Lion Air Flight 610 crash, Boeing Co. faces an on-year 46% decline in profit and 22% drop in revenue for its third quarter. The company reports quarterly earnings before the bell Wednesday.
4:42 a.m. Oct. 22, 2019 - By Tomi Kilgore
Stocks of earnings reporters are cutting the Dow's price by a combined 77 pointsShares of companies that reported third-quarter earnings are acting as a drag on the Dow Jones Industrial Average , with Travelers Companies Inc.'s stock doing the most damage. The insurer's stock fell $10.75, or 7.6%, after , to shave 73 points off the Dow's price. The biggest Dow boost was Procter & Gamble Co.'s stock , which rose $4.60, or 3.9%, after , to add about 31 points to the Dow. McDonald's Corp. shares shed $6.51, or 3.1%, after , to lower the Dow by 44 points, and United Technologies Corp.'s stock tacked on $1.38, or 1.0%, after to add 9 points to the Dow. The Dow fell 10 points, or less than 0.1%, in morning trading.
2:49 a.m. Oct. 22, 2019 - By Tomi Kilgore
Lockheed Martin beats on earnings and boosts guidance, dividend; stock slipsShares of Lockheed Martin Corp. slipped 0.7% in premarket trading Tuesday, although the aerospace company and defense contractor reported third-quarter earnings that beat expectation and increased its profit outlook, dividend and stock repurchase program. Net income rose to $1.61 billion, or $5.66 a share, from $1.96 billion, or $5.14 a share, in the year-earlier period, which beat the FactSet EPS consensus of $5.02. Sales grew 6% to $15.17 billion, above the FactSet consensus of $14.87 billion, as aeronautics sales increased 9.5% to $6.18 billion to top expectations of $6.00 billion. The company said it now expects 2019 EPS of approximately $21.55, compared with previous guidance of $20.85 to $21.15. Lockheed raised its quarterly dividend to $2.40 a share from $2.20 a share, starting in the fourth quarter, and boosted its share repurchase program by $1 billion to leave $3.3 billion in its current program. The stock has soared 42.9% year to date through Monday, while the Dow Jones Industrial Average has gained 15.0%.
2:12 a.m. Oct. 22, 2019 - By Ciara Linnane
United Tech shares up 1.9% premarket after earnings beat, company raises adjusted EPS guidanceUnited Technologies Corp. shares rose 1.9% in premarket trade Tuesday, after the aerospace and industrial company beat earnings estimates for the third quarter. The company said it had net income of $1.148 billion, or $1.33 a share, in the quarter, down from $1.238 billion, or $1.54 a share, in the year-earlier period. Adjusted per-share earnings came to $2.21, ahead of the $2.03 FactSet consensus. Sales rose to $19.496 billion from $16.510 billion, also ahead of the $19.325 billion FactSet consensus. "Our strong performance through the first three quarters gives us confidence in the improved adjusted EPS range of $8.05 to $8.15 and free cash flow range of $5.3 to $5.7 billion for the year," Chief Executive Gregory Hayes said in a statement. The adjusted EPS range compares with prior guidance of $7.90 to $8.05. "Continued strength at Collins Aerospace, including the integration of Rockwell Collins, and a lower tax rate are expected to more than offset softness we are seeing at Carrier." The company tweaked its full-year sales range, however, to $76.0 billion to $76.5 billion, compared with prior guidance of $75.5 billion to $77.0 billion. Shares have gained 30% in 2019, while the Dow Jones Industrial Average , which counts United Tech as a member, has gained 15%.
12:15 a.m. Oct. 22, 2019 - By Steve Goldstein
European stocks edge back from 2019 highs European stocks weakened on Tuesday, as a generally solid set of corporate earnings from companies including UBS and Saab wasn’t enough for traders to bid stocks to a new high.
1:59 a.m. Oct. 21, 2019 - By Emily Bary
Tesla speeds toward unpleasant earnings turn, Boeing faces tough questions Earnings Watch: Nearly a quarter of the S&P 500 scheduled to report results in the week aheadPrepare for an earnings onslaught in the week ahead, headlined by Tesla Inc., Boeing Co. and a flurry of big tech names.
1:47 a.m. Oct. 17, 2019 - By Tomi Kilgore
Honeywell's stock drops after profit beat and guidance raised, but sales fall shyShares of Honeywell International Inc. slipped 1% in premarket trading Thursday, after the aerospace and building technologies company reported a third-quarter profit that beat expectations and raised its full-year outlook, although revenue fell a bit shy. Net income declined to $1.62 billion, or $2.23 a share, from $2.34 billion, or $3.11 a share, in the same period a year ago. Excluding non-recurring items, such as the impact of spinoffs, adjusted earnings per share rose 9% to $2.08, above the FactSet consensus of $2.01. Sales fell 16% to $9.09 billion, below the FactSet consensus of $9.12 billion, as product sales dropped 20% to $6.79 billion and service sales increased 0.4% to $2.29 billion. "We continue to deliver strong results and returns for our shareowners, even with the ongoing uncertainty in the macroeconomic environment," said Chief Executive Darius Adamczyk. "We remain on track to meet our cash flow commitments for the year, and we continued to execute on our capital deployment strategy in the third quarter." For 2019, the company raised its adjusted EPS guidance range to $8.10 to $8.15 from $7.95 to $8.15 but trimmed its sales outlook to $36.7 billion to $36.9 billion from $36.7 billion to $37.2 billion. The stock has rallied 24% year to date through Wednesday, while the Dow Jones Industrial Average has gained 16%.
1:46 a.m. Sept. 24, 2019 - By Tomi Kilgore
IHS Markit's stock set to fall after profit beat but revenue missed; dividend to be initiatedShares of IHS Markit Ltd. were indicated down nearly 1% in premarket trading Tuesday, after the information and analytics company reported a fiscal third-quarter profit that beat expectations but sales and a full-year outlook that came up a bit shy. Separately, the company said it reached a deal to sell its aerospace and defense business for about $470 million, and that it will initiate a quarterly dividend in the first quarter of 2020. Net income for the quarter to Aug. 31 fell to $40.1 million, or 10 cents a share, from $104.5 million, or 26 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS rose to 67 cents from 58 cents, above the FactSet consensus of 63 cents. Revenue grew 11% to $1.11 billion, below the FactSet consensus of $1.13 billion, as resources revenue topped forecasts by financial services, consolidated markets and solutions and transportation revenue missed. For fiscal 2019, the company expects revenue of $4.40 to $4.42, compared with the FactSet consensus of $4.44 billion, and adjusted EPS at the high end of the previous $2.52 to $2.57 guidance range, compared with expectations of $2.57. The stock has rallied 39.5% year to date through Monday while the S&P 500 has gained 19.3%.
5:20 a.m. Sept. 23, 2019 - By Philip van Doorn
How to profit from the ‘best of both worlds’ in stock investing Mid-cap companies can offer large-cap quality with small-cap growthMid-cap companies can offer large-cap quality with small-cap growth.
4:31 a.m. Aug. 22, 2019 - By Barbara Kollmeyer
These 4 big blue chip stocks are cheap for a reason, cautions money manager Critical information for the U.S. trading dayOur call of the day looks at four big U.S. companies that have stumbled after a solid ride between 2016 and 2018. The Felder Report’s Jesse Felder says they need to get a lot cheaper.
2:11 a.m. Aug. 9, 2019 - By Tomi Kilgore
Vista Outdoor’s stock plunges to record low as firearms sales were ‘terrible’ Results miss expectations and outlook is lowered as demand fails to stabilize, tariff headwinds set to increaseShares of Vista Outdoor Inc. took a dive to a record low Thursday, as a “frankly terrible” firearms market led to disappointing fiscal first-quarter results and a lowered full-year outlook, dashing hopes that demand was finally stabilizing.
7:21 a.m. Aug. 5, 2019 - By Tomi Kilgore
Gun stocks surge after President Trump tweets about tightening regulations Stock rallies buck the selloff in the broader stock market, as fears of stronger background checks overshadow trade-war concernsShares of shooting sports companies surged Monday, bucking the sharp selloff in the broader stock market, after President Trump tweeted about pushing for stronger background checks for gun buyers in the wake of the tragic events over the weekend.
7:00 a.m. Aug. 3, 2019 - By Barbara Kollmeyer
The Fed can’t stop a market meltdown, warns forecaster who called the 2008 housing bust Critical information for the U.S. trading dayExpectations over the Fed’s ability to fix all that ails the economy and markets may be running a little too hot, warns our call of the day, from James Stack, president of Stack Financial Management and owner of InvesTech Research.
12:22 p.m. July 31, 2019 - By Max A. Cherney
Gun maker Sturm Ruger stock falls after revenue slidesSturm, Ruger & Co. Inc. shares fell 8.4% in the extended session Wednesday after the company reported declining year-over-year sales for the second quarter. The gun maker reported second-quarter net income of $6.2 million, or 35 cents a share, compared with $15.2 million, or 86 cents a share, in the year-ago period. Revenue fell to $96.3 million from $128.4 million in the year-ago period. According to FactSet, no analysts cover the company. Sturm Ruger stock has gained 6% this year, with the S&P 500 index rising 20.2%.
9:34 a.m. July 31, 2019 - By Tomi Kilgore
Apple's stock adds nearly 130 points to Dow's price in July, Boeing cuts about 115 pointsApple Inc.'s 3.9% stock surge Wednesday on the back of the technology giant's came just in time to lift into first place as the top Dow Jones Industrial Average performer this month, both in price and percentage gains. The stock rose $19.00, or 9.6%, in July. That added about 129 points to the Dow's price, which increased by 555 points this month. The next biggest contributors to the Dow's gain were shares of Goldman Sachs Group Inc. , which rose $15.81, or 7.7%, to add 107 points to the Dow, followed by International Business Machines Corp. , which hiked up $11.20, or 8.1%, to add 76 points to the Dow. Meanwhile, Boeing Co.'s stock was the biggest drag, as it fell $16.90, or 4.6%, to shave about 115 points off the Dow.
12:00 p.m. July 30, 2019 - By Sunny Oh
Global U.S. companies see strong earnings so far—once you rule out Boeing Companies that receive 50% of revenues from abroad saw earnings grow by 7.5% in the second-quarterAmerican multinational companies, excluding Boeing, are posting strong earnings growth in the second-quarter, says BAML.
2:09 a.m. July 25, 2019 - By Tomi Kilgore
Raytheon's stock rallies after big profit beat, raised outlookShares of Raytheon Co. rose 1.0% in light premarket trading Thursday, after the defense contractor, which is in the process of merging with United Technologies Corp. , reported a second-quarter profit that was well above expectations and raised its full-year outlook. Net income rose to $817 million, or $2.92 a share, from $800 million, or $2.78 a share, in the year-ago period. The FactSet EPS consensus was $2.64. Sales increased 8.1% to $7.16 billion, above the FactSet consensus of $7.04 billion, as bookings rose 9.0% to $9.48 billion. Sales for the company's integrated defense systems, intelligence, information and services, missile systems and space and airborne systems business segments all rose, and topped expectations. For 2019, Raytheon raised its EPS outlook to $11.50 to $11.70 from $11.40 to $11.60 and its sales guidance to $28.8 billion to $29.3 billion from $28.6 billion to $29.1 billion. The stock has rallied 20.1% year to date through Wednesday, while the Dow Jones Industrial Average has gained 16.9%.
12:06 p.m. July 24, 2019 - Associated Press
Boeing CEO says production of 737 Max could be suspended Dennis Muilenburg says pause may be needed if fleet is grounded past OctoberBoeing’s CEO says the company will consider temporarily shutting down production of the 737 Max if the plane’s return is significantly delayed beyond the company’s October forecast.
11:55 a.m. July 24, 2019 - By Clive McKeef
S&P 500, Nasdaq stock indexes close at record but Dow grounded by Boeing Tech shares in focus as U.S. opens probe into anti-competitive practicesThe S&P 500 and Nasdaq Composite stock indexes closed at record highs on Wednesday despite mixed earnings and economic data and news of antitrust investigations into leading U.S. technology stocks, but the Dow closed lower.
6:38 a.m. July 24, 2019 - By Claudia Assis
Boeing stock falls after ‘messy’ second quarter, doubts on yet another plane ‘It could have been worse’ at Boeing Boeing Co. shares fall after the aerospace and defense company reports a massive quarterly loss and casts doubt on yet another one of its planes.
4:50 a.m. July 24, 2019 - By Barbara Kollmeyer
Dividend-paying stocks will leave Treasurys for dead, says mutual-fund company Federated Critical information for the U.S. trading dayFederated Investors’s chief equity market strategist Phil Orlando, says it’s high time investors wake up to the benefit of dividend paying stocks.
3:30 a.m. July 24, 2019 - By Tomi Kilgore
Boeing sees 'significant risk' to 777X delivery scheduleBoeing Co. said Wednesday that the grounding of the 737 Max planes acted as a $5.6 billion drag on revenue and cut earnings per share by $8.74. Adding that back to of a loss per share of $5.21 and revenue of $24.26 billion, Boeing still would have reported a decline from a year-ago EPS of $3.73 and revenue of $24.26 billion. Separately, Boeing said it was still targeting "late 2020" for the first delivery of the 777X plane, but said there was "significant risk" to this schedule given engine challenges, which have already delayed the first flight until early 2020. Boeing's stock fell 0.7% in premarket trading, with the implied price decline on track to act as a 17-point drag on the Dow Jones Industrial Average's price. Dow futures were down 88 points ahead of the open.
2:57 a.m. July 24, 2019 - By Tomi Kilgore
Boeing's stock slips after swinging to large but narrower-than-expected lossShares of Boeing Co. slid 1.1% in premarket trading Wednesday, after the aerospace and defense giant swung to a large second-quarter loss on weakness in commercial airplanes, although it was narrower than expected, but did not provide any guidance given the uncertainty of the timing and conditions for the return to service of the 737 Max fleet. The company reported a net loss of $2.94 billion, or $5.21 a share, after a profit of $2.20 billion, or $3.73 a share, in the year-ago period. Excluding non-recurring items, the adjusted per-share loss was $5.82, compared with the FactSet consensus for a loss of $6.69 a share. Revenue dropped 35% to $15.75 billion, but topped the FactSet consensus of $15.05 billion. Commercial airplane revenue tumbled 66% to $4.72 billion, below the FactSet consensus of $6.61 billion, as deliveries fell 54% to 90 planes and the segment swung to a loss of $4.95 billion from a profit of $1.79 billion. Defense, space and security revenue rose 8% to $6.6 billion to beat expectations of $6.51 billion. "This is a defining moment for Boeing and we remain focused on our enduring values of safety, quality, and integrity in all that we do, as we work to safely return the 737 MAX to service," said Chief Executive Dennis Muilenburg. The stock has lost 0.6% over the past three months through Tuesday, while the Dow Jones Industrial Average has gained 2.8%.
2:56 a.m. July 24, 2019 - By Tomi Kilgore
Boeing, Caterpillar stock drops a 55-point drag on the DowThe declines in shares of Caterpillar Inc. and Boeing Co. in premarket trading Wednesday, after the industrial companies reported second-quarter results, was acting as a 55-point drag on the Dow Jones Industrial Average's price. Dow futures dropped 92 points. Caterpillar's stock slumped 3.5% after ; the implied price decline would shave about 33 points off the Dow. Boeing shares shed 0.9%, after amid 737 Max woes, with the implied price decline taking about 22 points off the Dow.
2:28 a.m. July 24, 2019 - By Jeremy C. Owens
Earnings Watch: Facebook’s fine, Boeing’s bind and Tesla’s bottom line Three companies that have faced tough questions from investors line up for more discussion WednesdayLast quarter, Boeing Co., Facebook Inc. and Tesla Inc. played “Hold my beer” amid controversies; three months later, it is time for an update as they work through their issues.
1:45 a.m. July 24, 2019 - By Tomi Kilgore
Northrop Grumman beats profit and sales expectations, lifts outlookNorthrop Grumman Corp. reported Wednesday second-quarter earnings and revenue that beat expectations, and raised its full-year profit outlook. The defense and aerospace company said net income rose to $861 million, or $5.06 a share, from $789 million, or $4.50 a share, in the year-ago period. The FactSet consensus for earnings per share was $4.68. Total sales grew 19% to $8.46 billion, above the FactSet consensus of $8.41 billion. Aerospace systems sales rose 2% to $3.39 billion, but missed expectations of $3.50 billion, while mission systems sales growth of 9% to $3.13 billion topped expectations of $3.04 billion. Elsewhere, innovation systems and technology services sales were also above expectations. For 2019, the company raised its adjusted EPS guidance range to $19.30 to $19.55 from $18.90 to $19.30 and affirmed its sales outlook of about $34 billion. The stock, which was still inactive in premarket trading, has soared 32.3% year to date, while the Dow Jones Industrial Average has run up 17.2%.
1:35 p.m. July 23, 2019 - By Emily Bary
Videogames are struggling, but these types of games are winning Earnings Watch: Hasbro reports big gains for tabletop games Magic: The Gathering, Dungeons & Dragons and MonopolyOne of the year’s best “gaming” stocks continues to win by following an old-school approach.
2:40 a.m. July 23, 2019 - By Ciara Linnane
Lockheed Martin shares climb premarket after earnings beatLockheed Martin Corp. said Tuesday it had net income of $1.420 billion, or $5.00 a share, in the second quarter, up from $1.163 billion, or $4.05 a share, in the year-earlier period. Sales rose to $14.427 billion from $13.398 billion. The numbers beat the FactSet consensus for EPS of $4.77 and sales of $14.196 billion. Sales rose at all of the aerospace giant's four business segments of aeronautics, missiles and fire control, rotary and mission systems and space. The company raised its full-year guidance and now expects EPS to range from $20.85 to $21.15 from a prior outlook of $20.05 to $20.35. It raised its sales guidance to $58.250 billion to $59.750 billion from a prior $56.750 billion to $58.250 billion. The current FactSet consensus is for full-year EPS of $20.60 and sales of $58.049 billion. Shares rose 2.3% premarket and have gained 37% in 2019, while the S&P 500 has gained 19%.
2:11 a.m. July 23, 2019 - By Emily Bary
United Technologies stock gains after earnings beat, raised outlookShares of United Technologies Corp. are up 2.7% in premarket trading Tuesday after the company beat earnings expectations for the second quarter and increased its full-year outlook. The company reported net income of $1.9 billion, or $2.20 a share, down from $2.05 billion, or $2.56 a share, a year earlier. On an adjusted basis, the company also posted earnings per share of $2.20, up from $1.97 a year prior. Analysts surveyed by FactSet had been modeling $2.05 in adjusted EPS. United Technologies saw second-quarter sales of $19.63 billion, up from $16.71 billion a year earlier. Analysts had been projecting $19.55 billion in net sales. The company now projects full-year adjusted EPS of $7.90 to $8.05, up from a prior range of $7.80 to $8.00. United Technologies also projects that organic sales will rise by 4 to 5 percent for the full year. Its earlier forecast was for 3 to 5 percent. Its shares have climbed 25% so far this year, as the Dow Jones Industrial Average has increased 16%.
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