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The Q2 earnings checklist just keeps getting longer. After a busy session after the bell yesterday, we see another long list of reporting companies this morning.
Boeing (BA - Free Report) is up 1.75% ahead of regular Wednesday trading on a Q2 revenue beat — $24.8 billion versus $24.11 billion expected. The world’s biggest airplane maker lowered earnings guidance for fiscal 2016, however.
Comcast (CMCSA - Free Report) beat the Zacks consensus estimates on both top and bottom lines: its 83 cents per share was a 2-cent beat, and revenues of $19.269 billion topped the $18.988 billion expected. Shares are up 2.25% in today’s pre-market.
International snack food company Mondelez (MDLZ - Free Report) posted a 4-cent beat to 44 cents per share in its fiscal Q2. Revenues, however, missed expectations slightly: $6.302 billion versus $6.333 billion expected. Shares are flat in today’s pre-market; MDLZ is up 7% over the last month.
GlaxoSmithKline (GSK - Free Report) beat handily on top and bottom lines, on strength in its drugs for asthma, vaccines and HIV treatment. The UK-based company does have Brexit concerns, though the company has stated that it expects a boost from a weaker British pound. Shares are up 1.5% ahead of the bell.
GPS technology firm Garmin (GRMN - Free Report) also beat top and bottom lines in its fiscal Q2 by a whopping 20 cents per share and has boosted its guidance for fiscal 2016. As a result is trading up 8.7% in today’s pre-market.
This morning’s Durable Goods report for June was negative today, however, falling 4%. Stripping out transportation, that number rises to 0.5%. Ex-Defense was telling: down 3.9%, but non-Defense cap the read goes to +0.2%. Shipments were down 0.4%.
Futures are up a half-hour before the bell — the Dow +57 points, Nasdaq +38 and S&P 500 +4.5%. A plethora of positive quarterly earnings data — including a strong quarter from Apple (AAPL - Free Report) after the bell yesterday — looks to be having a favorable affect on early trading today.
After the closing bell today, we will receive earnings reports from Facebook and a wide swath of others. Roughly half the S&P 500 index will have reported for Q2 by the end of today.
Mark Vickery Senior Editor
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Q2 Earnings Checklist Keeps Rolling Out: BA, CMCSA, GSK & Others
Wednesday, July 27, 2016
The Q2 earnings checklist just keeps getting longer. After a busy session after the bell yesterday, we see another long list of reporting companies this morning.
Boeing (BA - Free Report) is up 1.75% ahead of regular Wednesday trading on a Q2 revenue beat — $24.8 billion versus $24.11 billion expected. The world’s biggest airplane maker lowered earnings guidance for fiscal 2016, however.
Comcast (CMCSA - Free Report) beat the Zacks consensus estimates on both top and bottom lines: its 83 cents per share was a 2-cent beat, and revenues of $19.269 billion topped the $18.988 billion expected. Shares are up 2.25% in today’s pre-market.
International snack food company Mondelez (MDLZ - Free Report) posted a 4-cent beat to 44 cents per share in its fiscal Q2. Revenues, however, missed expectations slightly: $6.302 billion versus $6.333 billion expected. Shares are flat in today’s pre-market; MDLZ is up 7% over the last month.
GlaxoSmithKline (GSK - Free Report) beat handily on top and bottom lines, on strength in its drugs for asthma, vaccines and HIV treatment. The UK-based company does have Brexit concerns, though the company has stated that it expects a boost from a weaker British pound. Shares are up 1.5% ahead of the bell.
GPS technology firm Garmin (GRMN - Free Report) also beat top and bottom lines in its fiscal Q2 by a whopping 20 cents per share and has boosted its guidance for fiscal 2016. As a result is trading up 8.7% in today’s pre-market.
This morning’s Durable Goods report for June was negative today, however, falling 4%. Stripping out transportation, that number rises to 0.5%. Ex-Defense was telling: down 3.9%, but non-Defense cap the read goes to +0.2%. Shipments were down 0.4%.
Futures are up a half-hour before the bell — the Dow +57 points, Nasdaq +38 and S&P 500 +4.5%. A plethora of positive quarterly earnings data — including a strong quarter from Apple (AAPL - Free Report) after the bell yesterday — looks to be having a favorable affect on early trading today.
After the closing bell today, we will receive earnings reports from Facebook and a wide swath of others. Roughly half the S&P 500 index will have reported for Q2 by the end of today.
Mark Vickery
Senior Editor