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Dow futures are down in the pre-market this morning roughly 20 points after hitting a new, record high for 10 straight days as of Monday’s close. The S&P 500 also hit a new record high yesterday, and is down marginally in today’s pre-market. Not that Q2 earnings season is creating a drag; most earnings results coming out this morning have surprised to the upside.
Michael Kors far surpassed the Zacks consensus estimate this morning, putting up 80 cents per share as opposed to the 62 cents expected. Revenues also solidly beat: $952.4 million easily outpaced the $917.9 million we were anticipating. These results, while impressive on the headline, still represent a downward trajectory year over year — -11% on earnings and -3.6% on sales. Nevertheless, KORS shares are seeing a 15.5% upswing in pre-market trading today.
CVS Health (CVS - Free Report) posted a 2-cents beat to $1.33 per share in its Q2 earnings report this morning, on revenues of $45.6 billion which also slightly outperformed expectations. This amounts to a swing to the positive from the estimate on year-over-year earnings growth. This marks at the the fifth straight earnings beat for the pharmacy retailer, with Pharmacy Services up 9.5% year over year to $32.3 billion. However, shares are trading down 2% after an initial pop, following a narrowing of full-year 2017 guidance.
Ralph Lauren (RL - Free Report) also surpassed earnings expectations ahead of the bell today, with $1.11 per share topping the 96 cents per share in the Zacks consensus. Revenues came roughly in-line, a tad short, to $1.347 billion from the $1.349 billion we were looking for. This was Ralph Lauren’s fiscal Q1 2018 quarter, which shows earnings growth of 4.7% year over year. Shares are up 5.6% in todays pre-market.
After yesterday’s closing bell, CBS Corporation also outperformed expectations, posting $1.04 per share in earnings compared to the 97 cents expected. Revenues also surpassed our consensus estimate of $3.11 billion with a Q2 top-line of $3.26 billion. Content licensing and distribution was up 12% year over year, and Entertainment was also up 12%. Cable was up 7%, and Publishing and Local Media also improved results year over year. Pre-market shares are up just north of 1% at this hour.
After today’s closing bell, The Walt Disney Company (DIS - Free Report) reports fiscal Q3 earnings. The Zacks consensus is looking for $1.53 per share on $14.44 billion in quarterly revenues. The entertainment giant has beaten earnings estimates in three of its last four quarters.
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Investors Are Keeping An Eye On Q2 Earnings
Dow futures are down in the pre-market this morning roughly 20 points after hitting a new, record high for 10 straight days as of Monday’s close. The S&P 500 also hit a new record high yesterday, and is down marginally in today’s pre-market. Not that Q2 earnings season is creating a drag; most earnings results coming out this morning have surprised to the upside.
Michael Kors far surpassed the Zacks consensus estimate this morning, putting up 80 cents per share as opposed to the 62 cents expected. Revenues also solidly beat: $952.4 million easily outpaced the $917.9 million we were anticipating. These results, while impressive on the headline, still represent a downward trajectory year over year — -11% on earnings and -3.6% on sales. Nevertheless, KORS shares are seeing a 15.5% upswing in pre-market trading today.
CVS Health (CVS - Free Report) posted a 2-cents beat to $1.33 per share in its Q2 earnings report this morning, on revenues of $45.6 billion which also slightly outperformed expectations. This amounts to a swing to the positive from the estimate on year-over-year earnings growth. This marks at the the fifth straight earnings beat for the pharmacy retailer, with Pharmacy Services up 9.5% year over year to $32.3 billion. However, shares are trading down 2% after an initial pop, following a narrowing of full-year 2017 guidance.
Ralph Lauren (RL - Free Report) also surpassed earnings expectations ahead of the bell today, with $1.11 per share topping the 96 cents per share in the Zacks consensus. Revenues came roughly in-line, a tad short, to $1.347 billion from the $1.349 billion we were looking for. This was Ralph Lauren’s fiscal Q1 2018 quarter, which shows earnings growth of 4.7% year over year. Shares are up 5.6% in todays pre-market.
After yesterday’s closing bell, CBS Corporation also outperformed expectations, posting $1.04 per share in earnings compared to the 97 cents expected. Revenues also surpassed our consensus estimate of $3.11 billion with a Q2 top-line of $3.26 billion. Content licensing and distribution was up 12% year over year, and Entertainment was also up 12%. Cable was up 7%, and Publishing and Local Media also improved results year over year. Pre-market shares are up just north of 1% at this hour.
After today’s closing bell, The Walt Disney Company (DIS - Free Report) reports fiscal Q3 earnings. The Zacks consensus is looking for $1.53 per share on $14.44 billion in quarterly revenues. The entertainment giant has beaten earnings estimates in three of its last four quarters.