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Ahead of Wall Street

Tuesday, April 25, 2017

Among the new onslaught of Q1 earnings reports hitting the tape ahead of Tuesday’s market open, we see several blow-out numbers from some of the leading companies from a variety of industries. In the interest of keeping things simple while we enjoy a cup of coffee, we’ll keep this to just the pre-market home runs, like a highlight reel of a baseball game:

Heavy equipment maker Caterpillar CAT more than doubled earnings expectations this morning, posting $1.28 per share compared to the 62 cents in the Zacks consensus estimate. The Zacks Rank #1 (Strong Buy) company also put up a big beat on the top line: $9.8 billion beat the $9.36 billion expected. It’s at least the 5th straight quarter of earnings beat, but the 106% positive surprise dwarfs the trailing 4-quarter average of a 13.6% beat. Pre-market shares of CAT are up 5%, and the company hiked fiscal year guidance, as well. For more, click here.

Chemicals major DuPont DD also reported strong results for its Q1, $1.64 per share on $7.74 billion in sales far outweighed the Zacks consensus estimates of $1.38 per share and $7.54 billion, respectively. Revenues are up 5% year over year while earnings growth zooms into double-digits. The Zacks Rank #2 (Buy) company with a Zacks Style Score (Value, Growth, Momentum) of B keeps its streak of 5 straight double-digit positive earnings surprises alive, and pre-market shares for DD are +2%. For more, click here.

McDonalds MCD, a Zacks Rank #3 (Hold) company with a Zacks Style Score of D (prior to its Q1 release) also left expectations in the dust: $1.47 per share surpassed the $1.32 expected, whereas the $5.676 billion in quarterly sales easily topped the $5.48 billion in the Zacks consensus.Q1 global comps were +4% in the quarter, +1.7% domestically. Again, a long line of positive earnings surprises continues for MCD, and shares — up 40% over the last 24 months — look to approach all-time highs as the market opens today.

Zacks Rank #2 (Buy), Style Score A company Corning GLW took out bottom line estimates by 4 cents to 39 cents per share, whereas its $2.49 billion surpassed expectations of $5.36 billion for Q1. This 11% beat is better than the trailing 4-quarter average of +9.9% positive surprise, all of which bettered estimates. The chip-based ceramics maker is trading up more than 2% following the favorable results, and GLW shares have gained over 30% since this time last year. For more, click here.

Mark Vickery
Senior Editor

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Stocks On The Move

Company Symbol Price $Change %Change
Caterpillar, Inc. CAT 104.42 7.61 7.86
KMG Chemicals, Inc. KMG 48.62 3.53 7.83
EVINE Live Inc. EVLV 1.44 0.08 5.88
Infinity Pharmaceuticals, Inc. INFI 2.07 0.11 5.61
Changyou.com Limited CYOU 30.57 1.58 5.45

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Earnings and Economic News

Key Earnings Reports For Apr 25, 2017

Economic Event Reported
(+) Consumer Confidence - Apr 25, 2017 --
(+) Case-Shiller Home Prices - Composite 20 - Apr 25, 2017 --
(+) Case-Shiller Home Prices - Composite 10 - Apr 25, 2017 --
(+) New Home Sales - Apr 25, 2017 --
(+) Treasury bills (3 mth) - Apr 25, 2017 --
(+) Federal Funds Rate - Apr 25, 2017 --
(+) Treasury notes (10 yr) - Apr 25, 2017 --