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Looking Forward to an Eventful Week; Plus L, CNA, DO
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Monday, February 11, 2019
With investors’ attention being drawn toward the end of this trading week — including another possible U.S. government shutdown at the end of this week, hopes of U.S./China trade negotiations making some progress before the March 1 deadline, statements from Federal Reserve members and a Brexit vote on Thursday — we still have Q4 earnings reports to digest through this, the last of the earnings-heavy weeks from a wide variety of industries. Beginning next week we start hearing from retailers, who often have a quarter-end at January instead of December in order to account for holiday sales gains.
For a comprehensive view of what to expect from this week beyond company-specific news from stocks in the S&P 500, et. al., make sure to take a look at Zacks Chief Strategist John Blank’s latest Global Week Ahead report: “Kick the Can Down the Road”: Global Week Ahead
After today’s market close, we look forward to earnings reports from companies such as Vornado Realty (VNO - Free Report) and Zacks Rank #1 (Strong Buy) Molina Healthcare (MOH - Free Report) . Later in the week we hear from Under Armour (UAA - Free Report) , Nvidia (NVDA - Free Report) , Coke (KO - Free Report) , Pepsi (PEP - Free Report) and CBS .
This morning, well-known conglomerate Loews Corp. (L - Free Report) came in woefully shy of expectations, based on higher quarterly costs and overall operating revenues which fell 4.7% year over year. Loews, the parent company of insurance company CNA Financial (CNA - Free Report) and E&P staple Diamond Offshore Drilling (DO - Free Report) , saw lower-than-expected results from both of these two components of its business.
Diamond Offshore missed expectations on the bottom line by 2 cents per share to a loss of 42 cents, on quarterly revenues of $232.5 million which tumbled 5.8% year over year. But it was CNA’s numbers that really hurt Loews in the quarter: -8 cents per share was reported when expectations were for 81 cents in profit. Core income was -22.7% off estimates, and -94% year over year. All 3 companies had Zacks Rank #4 (Sell) ratings ahead of the earnings reports.
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
Looking Forward to an Eventful Week; Plus L, CNA, DO
Monday, February 11, 2019
With investors’ attention being drawn toward the end of this trading week — including another possible U.S. government shutdown at the end of this week, hopes of U.S./China trade negotiations making some progress before the March 1 deadline, statements from Federal Reserve members and a Brexit vote on Thursday — we still have Q4 earnings reports to digest through this, the last of the earnings-heavy weeks from a wide variety of industries. Beginning next week we start hearing from retailers, who often have a quarter-end at January instead of December in order to account for holiday sales gains.
For a comprehensive view of what to expect from this week beyond company-specific news from stocks in the S&P 500, et. al., make sure to take a look at Zacks Chief Strategist John Blank’s latest Global Week Ahead report: “Kick the Can Down the Road”: Global Week Ahead
After today’s market close, we look forward to earnings reports from companies such as Vornado Realty (VNO - Free Report) and Zacks Rank #1 (Strong Buy) Molina Healthcare (MOH - Free Report) . Later in the week we hear from Under Armour (UAA - Free Report) , Nvidia (NVDA - Free Report) , Coke (KO - Free Report) , Pepsi (PEP - Free Report) and CBS .
This morning, well-known conglomerate Loews Corp. (L - Free Report) came in woefully shy of expectations, based on higher quarterly costs and overall operating revenues which fell 4.7% year over year. Loews, the parent company of insurance company CNA Financial (CNA - Free Report) and E&P staple Diamond Offshore Drilling (DO - Free Report) , saw lower-than-expected results from both of these two components of its business.
Diamond Offshore missed expectations on the bottom line by 2 cents per share to a loss of 42 cents, on quarterly revenues of $232.5 million which tumbled 5.8% year over year. But it was CNA’s numbers that really hurt Loews in the quarter: -8 cents per share was reported when expectations were for 81 cents in profit. Core income was -22.7% off estimates, and -94% year over year. All 3 companies had Zacks Rank #4 (Sell) ratings ahead of the earnings reports.
Mark Vickery
Senior Editor
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Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
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