Bulletin
Investor Alert

Topics

Jones

4:40 a.m. Dec. 1, 2021 - By Tomi Kilgore
Union Pacific cuts full-year outlook for volume growth and productivity, says crew availability is 'stressed'Shares of Union Pacific Corp. slipped 0.1% in morning trading Wednesday, after the rail and freight transportation services company lowered its 2021 guidance for volume growth, productivity and operating ratio improvement. The company said it now expects full-year volume growth of 4% over last year, compared with previous guidance provided on Oct. 21 of "closer to 5%." Productivity guidance was lowered to "approximately $250 million" from $350 million, and operating ratio improvement guidance was cut to "around 150 basis points" from "the neighborhood of 175 basis points." The lowered outlook comes as Chief Financial Officer Jennifer Hamann highlighted at the Stephens Annual Investor Conference the challenges faced in 2021, including Winter Storm Uri, the Northern California wildfires and supply chain disruptions. "Our freight car velocity and freight car terminal dwell trail last year's metrics and have lowered our trip plan compliance measures, which we know directly impacts our customers," Hamann said, according to a FactSet transcript. "Our crew availability is stressed due to the impact of COVID and the vaccine mandate and the just general sluggishness in our service product," she added. The stock has gained 8.6% over the past three months, while the Dow Jones Transportation Average has climbed 8.5% and the Dow Jones Industrial Average has slipped 1.7%.
1:52 a.m. Dec. 1, 2021 - By Tomi Kilgore
Salesforce.com's stock is reducing the Dow's gain by about 118 points after earningsShares of Salesforce.com Inc. dropped 6.3% in premarket trading Wednesday, and was the lone loser among the Dow Jones Industrial Average's 30 components, after the customer relationship management software company that beat expectations but provided a downbeat fourth-quarter outlook. The stock's implied price decline would shave about 118 points off the Dow's price, while Dow futures rose 286 points, or 0.8%. The stock's selloff comes after it fell 4.9% in November, the biggest monthly decline since it shed 9.5% in December 2020.
10:00 a.m. Nov. 29, 2021 - By Tomi Kilgore
Salesforce stock rallies to snap longest losing streak in 21 months a day before earnings reportShares of Salesforce.com Inc. charged up 4.6% in afternoon trading Monday, enough to pace the Dow Jones Industrial Average's gainers, a day before the customer relationship management software company reports fiscal third-quarter results. The stock's $13.09 price gain was adding about 86 points to the Dow's price, while the Dow jumped 281 points, or 0.8%. The stock's rally puts it on track to snap a six-session losing streak, which has been the longest such streak since the six-day stretch that ended Feb. 28, 2020. The stock had shed 7.7% during the latest losing streak. Salesforce is scheduled to report results for the quarter through October after Tuesday's closing bell, with the average analyst estimates for earnings per share of 92 cents and revenue of $6.80 billion, according to FactSet. The company has beat EPS and revenue expectations for at least the past 20 quarters, but the stock has gained the after earnings were reported 11 times after those past 20 earnings reports. The stock has rallied 11.5% over the past three months while the Dow has slipped 0.8%.
2:05 a.m. Nov. 19, 2021 - By Tomi Kilgore
Walmart stock gains after MKM analyst says buy, saying a more price discerning consumer should be a boonShares of Walmart Inc. rose 0.7% in premarket trading Friday, after the discount retail giant got a bullish boost from MKM Partners analyst Bill Kirk, who said the company is "doing the most, but getting the least credit." He raised his rating to buy and lifted his stock price target to $166 from $156. Kirk said Walmart has better inventory levels heading into the holidays, trends are accelerating while others are stagnating and is "best positioned" if the consumer becomes more price discerning given food and energy inflation. The stock had slumped 2.6% over the past three days, since Walmart reported fiscal third-quarter earnings that beat expectations, amid . MKM's Kirk isn't so concerned, saying Walmart is diversifying away from food pressure, but is still gaining share against grocery peers. "Commentary on widening price gaps and not fully passing on inflation should concern other grocers but will be a boon to Walmart, particularly if the consumer becomes more value-conscious," Kirk wrote in a note to clients. Walmart's stock has slipped 4.6% over the past three months through Friday, while the Dow Jones Industrial Average has gained 2.8%.
5:37 a.m. Nov. 18, 2021 - By Tomi Kilgore
Cisco's stock set to suffer biggest selloff in 15 months, shaves points off the Dow's priceShares of Cisco Systems Inc. tumbled 9.0% in toward a six-month low in morning trading Thursday, to pace both the Dow Jones Industrial Average's and S&P 500's decliners, in the wake of the networking company's . The stock is headed for the biggest one-day percentage selloff since it plunged 11.2% on Aug. 13, 2020, which followed Cisco's fiscal fourth-quarter 2020 results. The stock's price decline of $5.09 was shaving about 34 points off the Dow's price, which is down 188 points, or 0.5%. If there is a silver lining to Cisco's stock drop, it's that Cisco's stock is currently the 27th lowest priced in the Dow, so it is the 27th most influential, given that the Dow is a price-weighted index.
2:54 a.m. Nov. 16, 2021 - By Tomi Kilgore
Walmart, Home Depot stock gains after earnings would add about 44 points to the Dow's priceShares of Home Depot Inc. and Walmart Inc. rallied in premarket trading Tuesday, enough to add about 44 points to the Dow Jones Industrial Average's price, after both retail giants reported better-than expected fiscal third-quarter results. rose 1.2% ahead of the open, and the implied price gain would add about 12 points to the Dow's price. climbed 1.3%, and the implied price gain would add about 32 points to the Dow's price. Meanwhile, Dow futures rose 51 points, or 0.1%.
2:26 a.m. Nov. 16, 2021 - By Tonya Garcia
Walmart raises full-year earnings guidanceWalmart Inc. stock rose 2.2% in Tuesday premarket trading after the retail giant raised its full-year earnings guidance, the third consecutive quarter it has done so. Net income totaled $3.11 billion, or $1.11 per share, down from $5.14 billion, or $1.80 per share, last year. Adjusted EPS of $1.45 beat the FactSet consensus for $1.40. Revenue of $140.53 billion was up from $134.71 billion last year and also beat the FactSet consensus of $135.43 billion. U.S. e-commerce sales were up 8% year-over-year, and have grown 87% on a two-year basis. Walmart international sales fell 20.1% to $23.6 billion, impacted by divestitures. U.S. comparable sales excluding fuel grew 9.2%, ahead of the FactSet consensus for 6.4% growth. U.S. inventory is up 11.5% ahead of the holidays. Walmart is one of the large retailers that has to get around supply chain bottlenecks. Walmart expects full-year EPS of $5.00, adjusted EPS of $6.40, up from previous guidance of $6.20 to $6.35 and U.S. comp sales growth excluding fuel of 6%. The FactSet consensus is for EPS of $6.34 and U.S. comp sales growth of 0.8%. Walmart stock is up nearly 2% for the year to date while the Dow Jones Industrial Average has gained nearly 18% for the period.
1:12 a.m. Nov. 16, 2021 - By Tomi Kilgore
Home Depot's stock rises toward a record after big profit, sales beatsShares of Home Depot Inc. rose 0.7% into record territory in premarket trading Tuesday, after the home improvement retailer reported fiscal third-quarter profit, net sales and same-store sales that rose above expectations. Net income for the quarter to Oct. 31 increased to $4.13 billion, or $3.92 a share, from $3.43 billion, or $3.18 a share, in the year-ago period, to beat the FactSet consensus for earnings per share of $3.42 by a wide margin. Net sales rose 9.8% to $36.82 billion, well above the FactSet consensus of $34.95 billion. Same-store sales grew 6.1%, to beat the FactSet consensus of 2.4% growth, while U.S. same-store sales rose 5.5% to top expectations of a 2.3% rise. Cost of sales rose 9.9% to $24.26 billion, as gross margin declined to 34.1% from 34.2%. "As evidenced by our strong performance in the quarter, our team continues to do an outstanding job of operating with flexibility and agility," said Chief Executive Craig Menear. "Ultimately, this is what has allowed us to respond to the elevated home improvement demand that has persisted." The stock, which was on track to open above the Nov. 12 record close of $372.63, has run up 39.7% year to date through Monday, while the Dow Jones Industrial Average has advanced 17.9%.
3:03 a.m. Nov. 11, 2021 - By Tomi Kilgore
Walt Disney's stock selloff toward 10-month low would cut about 64 points off the Dow's priceShares of Walt Disney Co. sank 5.6% premarket toward a 10-month low in premarket trading Thursday, enough to be the biggest decliner among S&P 500 components ahead of the open, in the wake of the entertainment giant's and downbeat outlook for its Disney+ streaming service. The stock was on track to open at the lowest price seen during regular-session hours since January, and was headed for the biggest one-day selloff since dropped 7.8% on June 11, 2020. The stock's implied price decline would shave about 64 points off the Dow Jones Industrial Average's price, while Dow futures rose 35 points, or 0.1%.
2:57 a.m. Nov. 3, 2021 - By Steve Gelsi
Jones Lang LaSalle net income increases 80%Jones Lang LaSalle Inc. said Wednesday its third-quarter net income rose to $237.2 million, or $4.57 a share, from $131.9 million, or $2.52 a share, in the year-ago quarter. Adjusted earnings increased to $4.56 a share from $2.99 a share. Total revenue rose to $4.89 billion from $3.98 billion. Fee revenue increased to $2.07 billion from $1.42 billion. Analysts expected the company to earn $3.58 a share, according to a FactSet survey. Shares of JLL are up 73.9% this year, compared to an increase of 23.3% by the S&P 500.
7:38 a.m. Nov. 2, 2021 - By Tomi Kilgore
Dow transports really is up 1,000 points, because of Avis' skyrocketing stockNo, it's not a glitch, the Dow Jones Transportation Average really is up more than 1,000 points. The Dow transports, which like the Dow Jones Industrial Average , is a price-weighted index, is up a record 1,028 points, or 6.5%, even as only 6 of 20 components are trading higher. That's because Avis Budget Group Inc.'s stock is skyrocketing $167.99, or 98.0%, to add roughly 1,024 points to the Dow transports' price. The Dow transports was up as much as 2,303 points, or 14.4%, as Avis stock was up $373.65, or 217.9%, at its intraday high of $545.11, which would have added about 2,278 points to the index. Avis's stock is soaring after the car rental company reported , which came after as the stock soared ahead of the report. In contrast, the biggest drag on the Dow transports Tuesday is the stock of Expeditors International of Washington Inc. , which fell $4.50, or 3.6%, to shave about 27 points off the index after the after the air and ocean freight company reported third-quarter results.
3:48 a.m. Nov. 2, 2021 - By Tomi Kilgore
Expeditors stock jumps after big profit and revenue beats, as demand continues to outstrip capacityShares of Expeditors International of Washington Inc. jumped 2.5% in premarket trading Tuesday, after the air and ocean freight company reported third-quarter profit and revenue that nearly doubled and beat expectations, as demand continued to outstrip available capacity. Net income rose to $359.1 million, or $2.09 a share, from $191.7 million, or $1.12 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.79. Revenue grew 83.9% to $4.32 billion, above the FactSet consensus of $3.69 billion. Airfreight services revenue rose 65.6% to $1.63 billion, above the FactSet consensus of $1.47 billion, ocean freight and ocean services revenue soared 162.1% to $1.60 billion to beat expectations of $1.16 billion and customs brokerage and other revenue increased 44.6% to $1.09 billion to top forecasts of $1.01 billion. "Despite increased utilization of air charters, there is insufficient capacity to meet the current high demand," said Chief Executive Jeffrey Musser. "At the same time, unprecedented congestion at the ocean ports due to labor and equipment shortages is disrupting sailing schedules and causing significant delays." The stock has slipped 0.6% over the past three months through Monday while the Dow Jones Transportation Average has climbed 10.9% and the Dow Jones Industrial Average has gained 3.1%.
2:00 a.m. Nov. 2, 2021 - By Ciara Linnane
Pfizer shares jump 2.5% premarket as earnings beat, company raises guidance Pfizer Inc. shares jumped 2.5% in premarket trade Tuesday, after the company beat earnings estimates for the third quarter and raised guidance, boosted by strong sales of its COVID-19 vaccine, Comirnaty. The company posted net income of $8.146 billion, or $1.42 a share, for the quarter, up from $1.469 billion, or 26 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.34, well ahead of the $1.08 FactSet consensus. Revenue more than doubled to $24.094 billion from $10.277 billion, also comfortably ahead of the $22.576 billion FactSet consensus. Vaccine revenue rose to $14.6 billion from $1.717 billion. "More than 75% of the revenues we have recorded up through third-quarter 2021 for Comirnaty have come from supplying countries outside the U.S., and we remain on track to achieve our goal of delivering at least two billion doses to low- and middle-income countries by the end of 2022 -- at least one billion to be delivered this year and one billion next year, with the possibility to increase those deliveries if more orders are placed by these countries for 2022," CEO Albert Bourla said in a statement. The company is expecting full-year COVID vaccine sales of about $36 billion, reflecting the 2.3 billion doses expected to be delivered in the year. It raised its overall full-year guidance and now expects adjusted EPS to range from $4.13 to $4.18, up from prior guidance of $3.95 to $4.05. It expects revenue to range from $81.0 to $82.0 billion, up from prior guidance of $78.0 billion to $80.0 billion. Shares have gained 18.6% in the year to date, while the Dow Jones Industrial Average has gained 17% and the S&P 500 has gained 22.8%.
5:52 a.m. Oct. 29, 2021 - By Tomi Kilgore
Apple spent nearly $20 billion on stock buybacks in Q4 at average prices below the VWAPApple Inc. did a decent job with the nearly $20 billion it spent on open-market stock repurchases during the fiscal fourth quarter, as the average price paid was slightly below the average prices for each month and the quarter. In the technology behemoth's 10-K annual report filed early Friday with the Securities and Exchange Commission, Apple said it repurchased 35.04 million shares from Aug. 29 to Sept. 25 at an average price of $149.81, compared with the volume-weighted average price (VWAP) of $149.959 over the same period, according to a MarketWatch analysis of FactSet data. From Aug. 1 to Aug. 28, Apple bought 42.34 million shares at $147.61, compared with the VWAP of $147.778, and the company bought 59.22 million shares at $143.54 from June 27 to July 31, compared with the VWAP of $143.884. Overall for the quarter, Apple repurchased 136.60 million shares at $146.41, compared with the VWAP of $146.937, for an implied savings of just under $72 million. Apple's stock was down 3.6% at $147.09 in morning trading after . Apple has repurchased a total of $85.5 billion worth of stock during 2021. The stock has gained 10.9% year to date, while the Dow Jones Industrial Average has advanced 16.7%.
1:42 a.m. Oct. 29, 2021 - By Tomi Kilgore
Apple's stock drop after earnings can be blamed for more than half of Dow futures' declineShares of Apple Inc. sank 3.7% early Friday, to pace the Dow Jones Industrial Average's premarket decliners by a wide margin, in the wake of the technology behemoth's . The stock's implied price decline would shave about 37 points off the Dow's price, while Dow futures fell 69 points, or 0.2%, with 17 of 30 components trading lower. The next biggest Dow loser ahead of Friday's open is Merck & Co. Inc. shares , which slipped 0.6%. The biggest gainer was Chevron Corp.'s stock , which rose 2.0%, to add about 15 points to the Dow's price, after .
1:14 a.m. Oct. 29, 2021 - By Tomi Kilgore
Chevron stock jumps after big profit and revenue beats, as crude and natural gas sales prices soaredShares of Chevron Corp. surged 2.0% toward a 22-month high in premarket trading Friday, after the oil and gas giant reported third-quarter profit and revenue that rose well above expectations, as crude oil prices nearly doubled and natural gas prices nearly quadrupled. The company swung to net income of $6.11 billion, or $3.19 a share, from a loss of $207 million, or 12 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose to $2.96 from 18 cents, beating the FactSet consensus of $2.20. Total revenue jumped 82.9% to $44.71 billion, above the FactSet consensus of $41.22 billion. Worldwide net oil-equivalent production grew 7% to 3.03 million barrels per day. For Chevron's U.S. upstream operations, the average sales price per barrel of crude oil and natural gas liquids climbed to $58 from $31 a year ago, while the average sales price of natural gas soared to $3.25 per thousand cubic feet from 89 cents. "Third quarter earnings were the highest since first quarter 2013 largely due to improved market conditions, strong operational performance and a lower cost structure," said Chief Executive Mike Wirth. The stock has run up 34.0% year to date through Thursday, while the SPDR Energy Select Sector ETF has rallied 52.6% and the Dow Jones Industrial Average has advanced 16.7%.
9:56 a.m. Oct. 28, 2021 - By Tomi Kilgore
Apple stock option traders prepared for a more muted post-earnings reaction than usualShares of Apple Inc. jumped 2.5% toward a 7-week high, ahead of the technology behemoth's , even as options traders are prepared for a more muted than usual stock reaction to the report. An options strategy knows as a straddle, a pure volatility play that involves the simultaneous buying of bullish and bearish options with at-the-month strikes expiring Friday, is implying a one-day, post-earnings stock price move of $4.16 in either direction, according to data provided by Option Research & Technology Services (ORATS). That expected move is 28.5% less than the average one-day post-earnings move over the past 12 quarters of $5.82 in either direction, according to ORATS Principal Matt Amberson. At current prices, that means the stock would have to close below $148.41 or above $156.73 for straddle buyers to make money. The stock, which is trading 2.6% below the Sept. 7 record close of $156.69, has gained 15.0% year to date, while the tech-heavy Nasdaq 100 has rallied 22.2% and the Dow Jones Industrial Average has advanced 16.5%.
1:49 a.m. Oct. 28, 2021 - By Ciara Linnane
Caterpillar shares up 2% premarket as profit tops estimates, while sales fall slightly shortCaterpillar Inc. shares rose about 2% in premarket trade Thursday, after the maker of equipment for the construction and energy industries swept pass profit estimates for the third quarter. Deerfield, Ill.-based Caterpillar posted net income of $1.43 billion, or $2.60 a share, up from $1.22 a share in the year-earlier period. Adjusted per-share earnings came to $2.66, well ahead of the $2.20 FactSet consensus. Sales climbed to $12.4 billion from $9.9 billion, below the $12.6 billion FactSet consensus. CEO Jim Umpleby said sales rose across the company's three primary segments and in all regions, despite supply-chain challenges. Shares have gained 8% in the year to date, while the S&P 500 has gained 21%.
1:43 a.m. Oct. 28, 2021 - By Tomi Kilgore
Merck stock gains after profit and revenue rise above expectations, and upbeat full-year outlookShares of Merck & Co. Inc. rose 1.0% in premarket trading Thursday, after the drug maker and animal health company reported third-quarter profit and revenue that rose above expectations and provided and upbeat full-year outlook. Net income rose to $4.57 billion, or $1.80 a share, from $2.94 billion, or $1.16 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $1.75 from $1.37, and beat the FactSet consensus of $1.55. Sales grew 20.4% to $13.15 billion, well above the FactSet consensus of $12.32 billion, as pharmaceutical sales increased 18.3% to $11.50 billion, with Keytruda sales rising 22.0%, and animal health sales rose 16.1% to $1.42 billion. For 2021, the company expects adjusted EPS of $5.65 to $5.70, above the FactSet consensus of $5.63, and revenue of $47.4 billion to $47.9 billion, surrounding expectations of $47.60 billion. The stock has gained 4.1% over the past three months through Wednesday, while the Dow Jones Industrial Average has tacked on 1.6%.
9:25 a.m. Oct. 27, 2021 - By Tomi Kilgore
Dow transports fall for first time in 10 trading daysThe Dow Jones Transportation Average slumped 116 points, or 0.7%, with 16 of 20 components losing ground, to put the index on track for the first decline in 10 trading sessions. The that is set to snap was the longest since the 11-day stretch of gains that ended on Aug. 12, 2020. The Dow transports' biggest decliner was Ryder System Inc.'s stock , which slumped 5.1%, the biggest one-day drop in eight months, even after the truck rental company beat third-quarter profit and revenue expectations and . The biggest gainer was Norfolk Southern Corp.'s stock , which rose 1.1% after the railroad operator reported . The other three Dow transport gainers were shares of other railroad components, those of CSX Corp. , Kansas City Southern and Union Pacific Corp. . While the Dow transports dropped, the Dow Jones Industrial Average fell 72 points, or 0.2%, while the S&P 500 gained 0.2%.
4:12 a.m. Oct. 27, 2021 - By Tomi Kilgore
Stocks of earnings reporters would add nearly 80 points to the Dow's priceFour of the five Dow Jones Industrial Average components are contributing to the index's gains, as they would roughly add a net 77 points the Dow's price. Meanwhile, Dow futures rose 36 points, or 0.1%, ahead of the open. The biggest gainer was Coca-Cola Co.'s stock , which rose 2.7%, with the implied price gain adding about 10 points to the Dow's price, after . Next was McDonald's Corp.'s stock , which gained 2.6% ahead of the open to add about 40 points to the Dow after . Elsewhere, Microsoft Corp. shares rose 1.8% to add about 37 Dow points after , and Boeing Co.'s stock tacked on 2.1% to boost the Dow by 29 points . Meanwhile, Visa Inc.'s stock was the biggest Dow loser in the premarket after , as it fell 2.6% to shave about 39 points off the Dow's price.
3:17 a.m. Oct. 27, 2021 - By Tomi Kilgore
Norfolk Southern stock rallies toward 5-month high after profit, revenue beatsShares of Norfolk Southern Corp. rose 0.8% toward a five-month high in premarket trading Wednesday, after the railroad operator reported third-quarter profit and revenue that rose above expectations, with all of its business segments beating expectations, in the face of "significant supply chain disruptions." Net income was $753 million, or $3.06 a share, after income of $569 million, or $2.22 a share, in the year-ago period. The FactSet consensus for earnings per share was $2.91. Revenue grew 13.8% to $2.85 billion, above the FactSet consensus of $2.75 billion. Total operating expenses increased 3.0% to $1.72 billion, including a 5.4% rise in compensation and benefits to $609 million. Among business segment revenue, Merchandise rose 9.9%, Intermodal grew 16% and Coal climbed 32%. Railway operating ratio improved 630 basis points to 60.2%, but was below the FactSet consensus of 60.6%. The stock, on track to open at the highest level since mid-July, has rallied 9.1% over the past three months through Tuesday, while the Dow Jones Transportation Average has advanced 10.3% and the Dow Jones Industrial Average has gained 2.0%.
2:49 a.m. Oct. 27, 2021 - By Tonya Garcia
McDonald's profit and sales rise, beating expectationsMcDonald's Corp. shares rose nearly 3% in Wednesday premarket trading after the fast-food giant reported third-quarter earnings and sales that beat expectations. Net income totaled $2.150 billion, or $2.86 per share, up from $1.763 billion, or $2.35 per share, last year. Adjusted EPS of $2.76 was ahead of the FactSet consensus for $2.46. Sales of $6.201 billion were up from $5.418 billion last year and also ahead of the FactSet consensus of $6.050 billion. Global comparable sales rose 12.7% with the U.S. up 9.6%. The FactSet consensus was for a 10% rise. International operated markets, which includes the U.K. and France, was up 13.9% and international developmental licensed markets, which includes Japan and China, were up 16.7%. McDonald's stock has gained 10.2% for the year to date while the Dow Jones Industrial Average has advanced 16.8% for the period.
2:48 a.m. Oct. 27, 2021 - By Tomi Kilgore
Boeing stock gains even after wider-than-expected loss, big revenue missShares of Boeing Co. gained 0.7% in premarket trading, even as the aerospace and defense company reported a big loss and revenue misses, amid weakness in the commercial airplanes and defense, space and security businesses, while free cash flow was a lot less negative than projected. The net loss narrowed to $132 million, or 19 cents a share, from $466 million, or 79 cents a share, in the year-ago period. Excluding nonrecurring items, the per-share loss of 60 cents was triple the FactSet loss consensus of 20 cents. Revenue rose 8.1% to $15.28 billion, well below the FactSet consensus of $16.37 billion. Among the business segments, commercial airplanes revenue rose 24% to $4.46 billion but missed the FactSet consensus of $5.76 billion and defense, space and security revenue fell 3% to $6.62 billion to miss expectations of $6.80 billion, while global services revenue rose 14% to $4.22 billion to beat expectations of $3.92 billion. Free cash flow improved to negative $507 million from $5.08 billion a year ago, and beat expectations of negative $1.13 billion. "We are driving stability across our operations, investing in our future and positioning our teams to deliver for our customers as the market recovers," said Chief Executive David Calhoun. "Commercial market demand continues to gain traction with broad-based vaccine distribution and border protocols beginning to open." The stock has shed 5.6% over the past three months through Tuesday, while the Dow Jones Industrial Average has gained 2.0%.
2:17 a.m. Oct. 27, 2021 - By Tomi Kilgore
Coca-Cola stock surges after profit and revenue beats, raised outlookShares of Coca-Cola Co. surged 3.0% in premarket trading Wednesday, after the beverage giant reported third-quarter profit and revenue that rose above expectations, with all geographic regions saw revenue and unit case volume growth, and raised its full-year earnings growth view. The company reported net income that rose to $2.47 billion, or 57 cents a share, from $1.74 billion, or 40 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came in at 65 cents, beating the FactSet consensus of 58 cents. Revenue grew 16.1% to $10.04 billion, above the FactSet consensus of $9.77 billion, including 8% growth in concentrate sales. Unit case volume rose 6%, amid improving performance in away-from-home channels. For 2021, the company raised its adjusted EPS growth guidance range to 15% to 17% from 13% to 15%, while the current FactSet EPS consensus of $2.26 implies 15.9% growth. The stock has declined 4.9% over teh past three months through Tuesday, while the Dow Jones Industrial Average has gained 2.0%.
1:14 a.m. Oct. 26, 2021 - By Tomi Kilgore
UPS stock rallies after profit and revenue beats, as all business segments top forecastsShares of United Parcel Service Inc. rallied 1.7% toward a three-month high in premarket trading Tuesday, after the package delivery giant reported third-quarter profit and revenue that beat expectations, with all business segments topping forecasts. Net income was $2.33 billion, and earnings per share of $2.65 rose 18.3% from a year ago. Excluding nonrecurring items, adjusted EPS came to $2.71 to beat the FactSet consensus of $2.55. Revenue grew 9.2% to $23.2 billion, topping the FactSet consensus of $22.6 billion. U.S. domestic segment revenue grew 7.4% to $14.21 billion, helped by a 12.0% increase in revenue per piece, above the FactSet consensus of $14.19 billion; international segment revenue increased 15.5% to 4.72 billion, above expectations of $4.66 billion; and supply chain solution revenue rose 8.4% to $4.26 billion to beat expectations of $3.67 billion. The company raised its 2021 outlook for capital expenditures to $4.2 billion from $4.0 billion. The stock has rallied 21.1% year to date through Tuesday, while the Dow Jones Transportation Average has advanced 26.9% and the Dow Jones Industrial Average has gained 16.8%.
11:05 a.m. Oct. 25, 2021 - By Joy Wiltermuth
Dow, S&P 500 score set of closing records Monday ahead of earnings delugeThe Dow Jones Industrial Average and the S&P 500 index finished at records on Monday, ahead of a deluge of third-quarter earnings results due this week, including from Facebook Inc. after the session's closing bell. The Dow advanced about 64 points, or 0.2%, to close at a record 35,741.15, eclipsing its record finish on Friday and setting a new all-time trading high along the way. The S&P 500 added about 0.5% on Monday to end at a record 4,566.48, after setting its own intraday record high. The technology-heavy Nasdaq Composite Index outperformed, gaining 0.9%, but ended shy of record territory. The bullish mood on Wall Street comes ahead of more than 150 S&P 500 companies, or nearly a third of the broad-market index, this week reporting quarterly results. Investors also widely expect the Federal Reserve to start to lay out its plans soon for reducing its $120 billion of monthly emergency purchases of Treasury and mortgage-backed securities as the U.S. economy heals, but without tightening monetary policy by too much down the road.
1:53 a.m. Oct. 22, 2021 - By Tomi Kilgore
Intel, Honeywell stock drops after earnings would cut Dow's price by about 70 pointsShares of Intel Corp. tumbled 10.3% in premarket trading Friday, making it by far the biggest loser among Dow Jones Industrial Average components, in the wake of . Since Intel's closed Thursday at $56.00 as the 25th-lowest price Dow component, and the Dow is a price-weighted index, the impact on the Dow's price is more muted than higher priced stocks. Intel's stock's implied premarket price decline would shave about 40 points off the Dow's price, while Dow futures gained 30 points, or 0.1%. Honeywell's stock is the next biggest Dow loser, falling 2.1% after reporting . But with the stock closing Thursday at $224.52, the implied premarket price decline would cut about 30 points off the Dow's price.
2:56 a.m. Oct. 21, 2021 - By Tomi Kilgore
IBM stock selloff would cut the Dow's price by about 50 pointsShares of International Business Machines Corp. dove 5.4% in premarket trading Thursday, in the wake of the technology company's , and was by far the biggest drag on the Dow Jones Industrial Average ahead of the open. The implied price decline in IBM's stock would shave about 51 points off the Dow's price, while Dow futures shed 98 points or 0.3%, with 23 of 30 components trading lower. The next biggest Dow decliner in the premarket was Caterpillar Inc.'s stock, which slipped 1.1% and implied a 15-point weight on the Dow's price. The biggest gainer was Dow Inc.'s stock , which rose 1.5%, and would add about 6 points to the Dow's price, after the chemical and specialty materials company beat .
1:15 a.m. Oct. 21, 2021 - By Tomi Kilgore
Dow's stock gains as profit and revenue rise above forecasts, as local price jumpShares of Dow Inc. edged up 0.2% in premarket trading Thursday, after the chemicals and specialty materials company reported third-quarter profit and revenue that rose above Wall Street forecasts, amid big jumps in local prices due to tight supply and demand dynamics. The company swung to net income of $1.68 billion, or $2.23 a share, from a loss of $25 million, or 4 cents a share, in the same period a year ago. Excluding nonrecurring items, adjusted earnings per share rose to $2.75 from 50 cents, beating the FactSet consensus of $2.56. Sales surged 52.8% to $14.84 billion, above the FactSet consensus of $14.33 billion. Packaging and specialty plastics sales grew 69.5% to $7.74 billion to beat the FactSet consensus of $7.25 billion, as local price increased 63%; industrial intermediates and infrastructure sales rose 46.5% to $4.48 billion vs. expectations of $4.40 billion, as local price increased 49%; performance materials and coatings sales rose 26.2% to $2.53 billion to top expectations of $2.49 billion, as local price increased 23%. "e continue to see robust end-market demand that is expected to extend into 2022, coupled with near-term logistics constraints and low inventory levels across our value chains," said Chief Executive Jim Fitterling. The stock has gained 7.9% year to date through Wednesday, while the Dow Jones Industrial Average has advanced 16.4%.
3:15 a.m. Oct. 19, 2021 - By Tomi Kilgore
Kansas City Southern's stock slumps after profit misses expectations as volumes declinedShares of Kansas City Southern slumped 1.1% in premarket trading Tuesday, after the railroad operator reported third-quarter profit that fell short of expectations, as auto plant shutdowns resulting semiconductor shortages, service interruptions from right-of-way blockages and increased regulation of shipments into Mexico led to a 3% decline in carload volumes. Net income fell to $156.1 million, or $1.71 a share, from $189.7 million, or $1.01 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $2.02, below the FactSet consensus of $2.04. Revenue rose 12.8% to $744.0 million, above the FactSet consensus of $722.4 million. Operating expenses increased 26.8% to $492.1 million, including a 13.5% rise in compensation and benefits costs to $133.3 million and a 53.5% jump in fuel costs to $78.0 million. "We are encouraged that despite several commercial headwinds, our network is performing extremely well and we are delivering near record velocity and dwell," said Chief Executive Patrick Ottensmeyer. The stock has rallied 13.1% over the past three months through Monday, while the Dow Jones Transportation Average has advanced 7.1% and the Dow Jones Industrial Average has tacked on 3.8%.
2:23 a.m. Oct. 19, 2021 - By Tonya Garcia
P&G reports profit decline but maintains guidanceProcter & Gamble Co. shares slipped 0.8% in Tuesday premarket trading after the consumer packaged goods company reported fiscal Q1 profit that fell versus last year. Net income totaled $4.112 billion, or $1.61 per share, down from $4.277 billion, or $1.63 per share, last year. Sales of $20.338 billion were up from $19.318 billion last year. The FactSet consensus was for EPS of $1.59 and sales of $19.826 billion. Sales in all segments, including beauty, grooming and fabric care were up. P&G brands include Tide, Always, Bounty and Dawn. "These results keep us on track to deliver our top-line, bottom-line and cash targets for the fiscal year," said Chief Executive David Taylor in a statement. For full fiscal year 2022, P&G still expects all-in sales growth in the range of 2% to 4%, EPS growth in the range of 6% to 9% compared with fiscal 2021 $5.50 last year, and core EPS growth in the range of 3% to 6% compared to $5.66. The FactSet consensus is for sales of $78.866 billion, suggesting growth of 3.6%, and EPS of $5.93, implying 4.8% growth. P&G stock has risen 2.3% for the year to date while the Dow Jones Industrial Average is up 15.2% for the period.
2:14 a.m. Oct. 19, 2021 - By Ciara Linnane
Travelers shares jump 3.7% premarket after earnings beatTravelers Cos. Inc. shares rose 3.7% in premarket trading Tuesday, after the insurer beat estimates for the third-quarter. The New York-based company posted net income of $662 million, or $2.62 a share, for the quarter, down from $827 million, or $3.23 a share, in the year-earlier period. Core income per share came to $2.60, well ahead of the $1.83 FactSet consensus. Revenue rose 6% to $8.805 billion from $8.275 billion, also ahead of the $8.167 billion FactSet consensus. "Core income decreased primarily due to net unfavorable prior year reserve development compared to net favorable prior year reserve development in the prior year quarter and higher catastrophe losses, partially offset by higher net investment income and a higher underlying underwriting gain (i.e., excluding net prior year reserve development and catastrophe losses)," the company said in a statement. The prior year reserve move included a $402 million pre-tax subrogation benefit from PG&E, related to the 2017 and 2018 wildfires in California. Net realized investment gains in the quarter were $8 million pretax, compared with $37 million pretax in the year-earlier quarter. Catastrophe losses came to $501 million pretax, mostly due to Hurricane Ida and severe storms in the parts of the U.S. Investment income came to $771 million, up from $671 million a year ago. The company had an underwriting gain of $75 million, compared with a gain of $339 million a year ago. Shares have gained 9% in the year to date, while the Dow Jones Industrial Average has gained 19.5% and the S&P 500 has gained 15%.
1:58 a.m. Oct. 19, 2021 - By Ciara Linnane
J&J beats profit estimates for latest quarter as sales fall short and company raises full-year guidanceJohnson & Johnson shares rose 1.6% in premarket trading Tuesday, after the consumer goods and pharmaceuticals company posted better-than-expected third-quarter profit and raised its full-year guidance. The New Brunswick, NJ.-based company posted net income of $3.667 billion, or $1.37 a share, for the quarter, up from $3.554 billion, or $1.33 a share, in the year-earlier period. Adjusted per-share earnings came to $2.60, ahead of the $2.35 FactSet consensus. Sales rose to $23.338 billion from $21.082 billion, missing the $23.642 billion FactSet consensus. CEO Alex Gorsky said earnings were driven by strength in pharma, a continuing recovery in medical devices and growth in consumer health. Consumer health sales rose 5.3% to $3.700 billion, pharmaceuticals sales rose 13.7% to $12.994 billion and medical device sales rose 8% to $6.644 billion. The company is now expecting full-year adjusted EPS of $9.77 to $9.82, up from guidance offered in July of $9.60 to $9.70. It expects sales to range from $91.6 billion to $92.1 billion, up from prior guidance of $91.3 billion to $90.8 billion. Including its COVID-19 vaccine, it expects sales to range from $94.1 billion to $94.6 billion. The FactSet consensus is for EPS of $9.71 and sales of $94.4 billion. Shares have gained 1.7% in the year through Monday, while the Dow Jones Industrial Average has gained 15% and the S&P 500 has gained 19.5%.
2:14 a.m. Oct. 15, 2021 - By Tomi Kilgore
J.B. Hunt's stock set to rally after profit, revenue rise above expectationsShares of J.B. Hunt Transport Services Inc. were indicated up about 1% in premarket trading Friday, after the trucking company reported third-quarter profit and revenue that rose above expectations, as growth in all business segments helped offset rising wage and truck purchase transportation costs and lack of network fluidity. Net income rose to $199.8 million, or $1.88 a share, from $125.5 million, or $1.18 a share, in the year-ago period. The FactSet consensus for earning per share was $1.78. Revenue grew 27.2% to $3.14 billion, above the FactSet consensus of $3.02 billion. Operating expenses increased 25.0% to $2.87 billion, with wages and benefits costs growing 19.8% and rents and purchased transportation rising 28.5%. The stock has climbed 28.2% year to date, while the Dow Jones Transportation Average has advanced 19.5% and the Dow Jones Industrial Average has gained 14.1%.
1:28 a.m. Oct. 14, 2021 - By Tomi Kilgore
Caterpillar stock bounces off 8-month low after Cowen says buy ahead of first 'megacycle' in 14 yearsShares of Caterpillar Inc. rallied 1.2% in premarket trading, to bounce of an eight-month closing low in the previous session, after the construction and mining equipment got a bullish endorsement from Cowen analyst Matt Elkott, who said he believes the next "megacycle" is underway. Elkott started coverage of Caterpillar's stock with an outperform rating and price target of $241, which implies 28% upside from Wednesday's closing price. Elkott expects Caterpillar to show revenue growth, gross and operating margin expansion and earnings-per-share increases for three consecutive years, the first period of "megacycle" growth the company has enjoyed in 14 years, and only the second in modern history. "We see potential for incremental revenue opportunities of $35 billion for [Caterpillar] from autonomous solutions in the next 10 years," Elkott wrote in a note to clients. "We estimate that at least 75% of CAT's markets will work to reduce emissions. We expect strong growth in services, organically and via acquisition." The stock, which closed Wednesday at the lowest price since Feb. 1, has lost 10.7% over the past three months while the Dow Jones Industrial Average has slipped 1.6%.
1:08 a.m. Oct. 14, 2021 - By Ciara Linnane
UnitedHealth shares up premarket after earnings beat estimates, raises guidanceUnitedHealth Group Inc. shares jumped 1.7% in premarket trade Thursday, after the health benefits company beat earnings estimates for the third quarter and raised its guidance. The company posted net income of $4.086 billion, or $4.28 a share, up from $3.172 billion, or $3.30 a share, in the year-earlier period. Adjusted per-share earnings came to $4.52, ahead of the $4.41 FactSet consensus. Revenue rose to $72.337 billion from $65.115 billion, also ahead of the $71.347 billion FactSet consensus. The company raised its full-year guidance and now expects EPS to range from $17.70 to $17.95, and for adjusted EPS to range from $18.65 to $18.90. The FactSet consensus is for full-year EPS of $18.75. Shares have gained 15% in the year to date, while the Dow Jones Industrial Average [s :djia] has gained 12%.
2:20 a.m. Oct. 8, 2021 - By Tomi Kilgore
Union Pacific stock rises after J.P. Morgan says it's time to buyShares of Union Pacific Corp. rose 1.1% in premarket trading Friday, after J.P. Morgan analyst Brian Ossenbeck turned bullish as valuation has become attractive following the recent pullback and as network operations have stabilized. Ossenbeck raised his rating to overweight from neutral and boosted his stock price target to t$247 from $234. He said that while U.S. rails have had a "rough" two months, given disappointing volumes, labor concerns and potential for higher taxes, he sees "some light at the end of the tunnel for the group at a time investor sentiment remains cautious. For Union Pacific, Ossenbeck said the West Coast ports remain congested, "but we have seen rail dwell time in [Los Angeles] materially improve over the last month." And if the company cuts 2021 volume guidance when it reports third-quarter results on Oct. 21, expectations have already fallen enough that investors won't be surprised. The stock has shed 3.0% over the past three months through Thursday, while the Dow Jones Transportation Average has ticked up 0.2% and the Dow Jones Industrial Average has gained 1.0%.
1:43 a.m. Oct. 6, 2021 - By Tomi Kilgore
Dow plans investments to boost adjusted profit growth by $3 billion, move toward zero-carbon emissionsDow Inc. revealed Wednesday investment plans aimed at generating more than $3 billion in additional earnings before interest, taxes, depreciation and amortization (Ebitda) by 2030, while keeping capital expenditures at or below depreciation. The materials science company said the investments are also part of its plan to advance circular and low-carbon offering as it moves toward zero-carbon emissions. The company said near-term capital and operating growth investments are expected to increase Ebitda by $2 billion and a new net-zero carbon emissions ethylene and derivatives complex is expected to deliver about $1 billion in Ebitda. Dow added that it expects to allocate about $1 billion in capital expenditures per year to decarbonize its asset base. The stock, which is still inactive in premarket trading, has gained 6.5% year to date, while the Dow Jones Industrial Average has advanced 12.1%.
3:28 a.m. Sept. 24, 2021 - By Tomi Kilgore
Nike's stock drop would shave more than 50 points off the Dow's priceShares of Nike Inc. sank 5.1% in early trading Friday, enough to pace the Dow Jones Industrial Average's premarket decliners, after the athletic apparel and accessories giant reported fiscal first-quarter profit that topped expectations . The stock's implied price decline would shave about 53 points off the price of the Dow, while Dow futures were down 144 points, or 0.4%, ahead of the open. Nike's stock is on track to suffer the biggest one-day decline since June 2020. Through Thursday, it had rallied 19.5% over the past three months, while the Dow has gained 1.7%.
Browse topics:

Filter results by

Industry

Financial Services (999)

Banks (264)

Software (241)

Manufacturing (211)

Health-care (198)

Internet (174)

Location

Us (1819)

Asia Pacific (291)

Europe (252)

Eu (233)

China (126)

Japan (95)

Link to MarketWatch's Slice.