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In between earnings seasons, four times per year, we find ourselves on an island of important companies reporting earnings independent of the large group of S&P 500 firms reporting on the standard calendar year. Nike (NKE - Free Report) , FedEx (FDX - Free Report) and other key companies in their respective industries put out quarterly results without a lot of clutter from other companies worthy of coverage.
Thus we get a modicum of clarity here. After the bell yesterday, leading homebuilder Lennar Corp. (LEN - Free Report) beat the Zacks consensus estimate by 7 cents per share to $1.34. Earnings grew 10.7% year over year, and quarterly revenue of $3.38 billion also topped the Zacks consensus.
Before the opening bell today, we saw Darden Restaurants (DRI - Free Report) beat estimates on top and bottom lines, where General Mills (GIS - Free Report) disappointed by missing analyst expectations. Navistar posted a surprise Q4 loss of 42 cents per share as opposed to expected earnings of 25 cents for the quarter.
After the bell today, logistics giant FedEx reports fiscal Q2 2017 results. The Zacks consensus looks for $2.91 per share on $14.88 billion in revenues. FedEx is not only a leading indicator of the global commerce complexion, but also a strong indicator of holiday season retail sales. The company has modestly beat expectations on the bottom line for the past four quarters. The Zacks ESP is for +1% on earnings.
We see results from Bed, Bath and Beyond tomorrow and ConAgra (CAG - Free Report) and Rite Aid on Thursday. Plenty of grist for the mill during time of year that is otherwise rather quiet on the econ data front.
Futures in the main domestic indices are up a half hour before trading commences. The S&P 500 is +5.75, the Dow +51 and the Nasdaq +13. After a massive run-up in the Dow toward a 20,000 point threshold, the traditional blue chip index has clearly experienced cold feet from late-year investors. The narrative is no longer whether the Dow will hit 20K this week. Therefore, look for opportunistic trading to push toward this mark while most people aren’t paying attention.
Image: Bigstock
Escape to Earnings Island
Tuesday, December 20, 2016
In between earnings seasons, four times per year, we find ourselves on an island of important companies reporting earnings independent of the large group of S&P 500 firms reporting on the standard calendar year. Nike (NKE - Free Report) , FedEx (FDX - Free Report) and other key companies in their respective industries put out quarterly results without a lot of clutter from other companies worthy of coverage.
Thus we get a modicum of clarity here. After the bell yesterday, leading homebuilder Lennar Corp. (LEN - Free Report) beat the Zacks consensus estimate by 7 cents per share to $1.34. Earnings grew 10.7% year over year, and quarterly revenue of $3.38 billion also topped the Zacks consensus.
Before the opening bell today, we saw Darden Restaurants (DRI - Free Report) beat estimates on top and bottom lines, where General Mills (GIS - Free Report) disappointed by missing analyst expectations. Navistar posted a surprise Q4 loss of 42 cents per share as opposed to expected earnings of 25 cents for the quarter.
After the bell today, logistics giant FedEx reports fiscal Q2 2017 results. The Zacks consensus looks for $2.91 per share on $14.88 billion in revenues. FedEx is not only a leading indicator of the global commerce complexion, but also a strong indicator of holiday season retail sales. The company has modestly beat expectations on the bottom line for the past four quarters. The Zacks ESP is for +1% on earnings.
We see results from Bed, Bath and Beyond tomorrow and ConAgra (CAG - Free Report) and Rite Aid on Thursday. Plenty of grist for the mill during time of year that is otherwise rather quiet on the econ data front.
Futures in the main domestic indices are up a half hour before trading commences. The S&P 500 is +5.75, the Dow +51 and the Nasdaq +13. After a massive run-up in the Dow toward a 20,000 point threshold, the traditional blue chip index has clearly experienced cold feet from late-year investors. The narrative is no longer whether the Dow will hit 20K this week. Therefore, look for opportunistic trading to push toward this mark while most people aren’t paying attention.
Mark Vickery
Senior Editor
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