Earnings Review: Solid Results This Week
Published on Saturday, 28 April 2012 07:02 Written by Todd Shriber
The week ending April 27 saw roughly a third of the S&P 500 companies deliver earnings updates and while many analysts, pundits and so-called experts argued prior to the start of earnings season that the bar had been low, approximately three-quarters of the companies reporting thus far have topped those low estimates. So that can’t be too bad, right? It might also be one reason why the broader market index was able to notch an almost 3% gain on the week.
Well, the impact of 99% of this week’s earnings reports is up for debate because one particular company that dominates the broader market. That being...
Apple (NASDAQ: AAPL):
Apple, the world's biggest publicly-traded company by market capitalization, posted a fiscal second-quarter profit of $11.6 billion on sales of $39.2 billion, results that once again enabled the iPad maker to thrash Wall Street estimates. That means on a year-over-year basis, Apple’s profit nearly doubled. Apple sold 35.1 million iPhones and 11.8 million iPads during the quarter, increases of 88% and over 150%, respectively. Apples shares had been stumbling leading up to its earnings report. It’s fair to say the stock is stumbling no more.
Amazon.com (NASDAQ: AMZN):
E-commerce giant Amazon reported net income of $130 million or $0.28 per share, compared to $201 million or $0.44 per share, crushing the seven cents Wall Street expected. Net sales for the quarter were up 34% to $13.19 versus $9.86 billion in the comparable period. Amazon’s guidance was iffy at best, but the shares still surged 16%.
Caterpillar (NYSE: CAT):
Dow component Caterpillar, the world’s largest maker of construction and mining equipment, first-quarter earnings of $2.37 a share on revenue of $15.98 billion, but the stock slid a bit as analysts were expecting $2.13 a share on $16.22 billion. Full-year guidance of $9.50 a share also missed the $9.54 analysts are expecting, but the company appeared bullish on global demand.
Boeing (NYSE: BA):
Investors more warmly received this Dow component’s first-quarter results, and the order backlog numbers were quite bullish. Boeing posted first-quarter earnings of $1.22 a share on sales of $19.4 billion, easily beating expectations of 94 cents on $18.37 billion. The company also boosted its full-year guidance to 4.15 a share to $4.35 from $4.05 to $4.25.
Chevron (NYSE: CVX):
The second-largest U.S. oil company, fell slightly after the company said its first-quarter profit climbed to $6.47 billion, or $3.27 a share, up from $6.21 billion, or $3.09 a share, a year earlier. During the quarter Chevron’s, production fell 4.7%, a decline that is in line with the decreases posted by rivals such as Exxon Mobil (NYSE: XOM) and ConocoPhillips (NYSE: COP). The good news might just be that Chevron’s refining margins were solid and the company is less exposed to natural gas than Exxon and other rivals.
- Boeing Begins Certification Testing on 747-8 Performance Improvements
- Apple Is Close to the 50 Day Moving Average
- Worst Performing Dow Component: Cisco
- First Use of Natural Gas to Power Equipment for Hydraulic Fracturing in Northeastern Pennsylvania
- Trading Idea: Entry Levels for Apple
- Boeing Showcases BBJ 3 for the First Time at EBACE 2013
- TradersHuddle Mid-day Update: Dow Jones Higher Top Performers: BA, UTX, AA
- Caterpillar and Mining Machinery Limited Announce Settlement Agreement Related to Siwei Acquisition
- ViaSat Announces Next Generation Broadband Satellite
- Critical Alerts For Chevron, MGM Mirage, Charter Communications, Quanta Services, and Acadia Released By InvestorsObserver
Related Partner Headlines
- Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
- Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
- New Service Promises Best Online Shopping Prices - TheStreet.com
- What You Can Get on Thursday's Black Friday - TheStreet.com
- Good Follow-Through - TheStreet.com
- iPhone 5S for Next Year: Rumor - TheStreet.com
- Why Apple's Stock Is an Undeniable 'Buy' Right Now - TheStreet.com
- UPDATE: Nomura Maintains Amazon at Buy; "Subscribe & Save" Outlook Promising - Benzinga
- Cisco, HP, Apple: Tech Premarket - TheStreet.com
- Lowe's Sales Beat Expectations: Hot Trends - TheStreet.com
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,471.08 Trade time:10:04AM EDT Value change:▲83.50 (0.54%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,679.11 Trade time:10:04AM EDT Value change:▲9.95 (0.60%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,520.40 Trade time:10:04AM EDT Value change:▲18.28 (0.52%)
In The Wires
Maudore Cancels Second Tranche of Brokered Private Placement Offering
Sarah Jessica Parker and Alumni Honoree Zac Posen Celebrate Teen Winners of the Scholastic Art & Writing Awards at Carnegie Hall
Timbercreek Senior Mortgage Investment Corporation May 2013 Dividend
MGT Capital Investments, Inc. To Present At The Second Annual Marcum LLP MicroCap Conference
MAA Announces Acquisition
Apache Declares Cash Dividends On Common And Preferred Shares
Baltic Trading Limited Prices Common Stock Offering
ShoreTel Receives 2013 IP Contact Center Technology Pioneer Award from CUSTOMER Magazine