Advertisement
Singapore markets close in 4 hours 14 minutes

  • Straits Times Index

    3,142.65
    -40.96 (-1.29%)
     

  • Nikkei

    38,375.26
    -857.54 (-2.19%)
     

  • Hang Seng

    16,279.56
    -320.90 (-1.93%)
     

  • FTSE 100

    7,965.53
    -30.05 (-0.38%)
     

  • Bitcoin USD

    62,096.45
    -2,856.64 (-4.40%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • S&P 500

    5,061.82
    -61.59 (-1.20%)
     

  • Dow

    37,735.11
    -248.13 (-0.65%)
     

  • Nasdaq

    15,885.02
    -290.08 (-1.79%)
     

  • Gold

    2,401.40
    +18.40 (+0.77%)
     

  • Crude Oil

    85.90
    +0.49 (+0.57%)
     

  • 10-Yr Bond

    4.6280
    +0.1290 (+2.87%)
     

  • FTSE Bursa Malaysia

    1,536.82
    -5.71 (-0.37%)
     

  • Jakarta Composite Index

    7,149.24
    -137.64 (-1.89%)
     

  • PSE Index

    6,460.97
    -101.46 (-1.55%)
     

Q2 Earnings Point Markets Forward: MSFT, GE, VFC & More

Mark Vickery
Updated
Q2 results continue to heat up at the end of this first full week of earnings season, with GE, State Street, Schlumberger and more reporting results before today's opening bell.

Friday, July 20, 2018

Q2 results continue to heat up at the end of this first full week of earnings season, coming off yesterday afternoon’s fiscal Q4 results from Microsoft MSFT beating on both top and bottom lines. The software giant’s $1.13 per share topped the Zacks consensus by 6 cents, and up 6.6% from the previous year’s quarter. Sales of $30.1 billion outperformed the $29.2 billion expected. Results were bolstered by strength in its Cloud business, up 53% year over year. Shares are looking to open at new highs this morning. For more on MSFT’s earnings, click here.

American iconic brand and Zacks Rank #4 (Sell)-rated General Electric GE posted its second straight earnings beat when it posted Q2 results before today’s opening bell. Earnings of 19 cents per share beat by a penny on revenues of $30.1 billion that also narrowly outpaced expectations and the $29.56 billion posted in the year-ago quarter. Yet the big news for GE will be how CEO John Flannery decides to reconfigure the corporate giant’s many businesses as time goes on, as he has done during his so-far brief tenure as the head of the company. For more on GE’s earnings, click here.

Oilfield services leader Schlumberger SLB also posted a one-cent beat on its bottom line this morning, with earnings per share of 43 cents. However, the company felt the drag on oil prices in its $8.30 billion in quarterly revenues, beneath the $8.34 billion in the Zacks consensus. Reservoir business rose 17% in the quarter, offset slightly by Drilling, down 4%. For more on SLB’s earnings, click here.

Financial services bank State Street Corp. STT posted a 4-cent beat of $2.05 per share ahead of today’s opening bell, though revenues came in short of expectations — $3.03 billion versus the $3.07 billion analysts were looking for, though up 7.7% year over year. The company also announced it will be paying $2.6 billion to buy out Charles River Development, which the company expects to be accretive to earnings by 2020. For more on STT’s earnings, click here.

We see a big beat on both top and bottom lines for Zacks Rank #2 (Buy)-rated V.F. Corp. VFC, a North Carolina-based branded apparel retailer reporting fiscal Q1 2019 results this morning. Earnings of 43 cents per share surpassed the 32 cents expected, up 62% from Q1 2018, while sales of $2.79 billion in the quarter far outpaced the $2.66 billion consensus estimate, up 21% year over year. For full-year 2019, the company expects earnings in the range of $13.60-13.70 per share, up 10-11%. For more on VFC’s earnings, click here.

Finally, industrial mainstay Honeywell HON, another Zacks Rank #2 stock, beat estimates by a solid dime to $2.12 per share on $10.92 billion in revenues, which eked out expectations and bettered the $10.08 billion top-line actual from the year-ago quarter. Year to date, Honeywell shares are down 3.8%, although early trading shows the stock up nearly 2.9% this morning. For more on HON’s earnings, click here.

Mark Vickery
Senior Editor

Questions or comments about this article and/or its author? Click here>>

Will You Make a Fortune on the Shift to Electric Cars?

Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

ADVERTISEMENT

It's not the one you think.

See This Ticker Free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
State Street Corporation (STT) : Free Stock Analysis Report
 
Microsoft Corporation (MSFT) : Free Stock Analysis Report
 
Honeywell International Inc. (HON) : Free Stock Analysis Report
 
General Electric Company (GE) : Free Stock Analysis Report
 
Schlumberger Limited (SLB) : Free Stock Analysis Report
 
V.F. Corporation (VFC) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research
 
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report