The busiest day of Q4 earnings season so far is here, with plenty of big-name companies reporting ahead of the opening bell. Whether pre-market futures are reacting to results or just doing some profit-taking off recent highs is hard to tell — the Dow is -150 points at this hour, the S&P 500 is -20 and the Nasdaq -85 points currently.
No economic data has hit the tape in today’s pre-market, as we are back-loaded this week for such things. After the open today, we’ll get January numbers for S&P PMI Manufacturing and Services. Both are expected to come in below the 50 level, which is the inflection point between positive and negative growth. Q4 GDP, Jobless Claims and a new PCE report all come out Thursday or Friday this week.
Johnson & Johnson (JNJ - Free Report) beat estimates decisively on its bottom line to $2.35 per share in its Q4, from $2.22 expected, for a nearly +6% earnings surprise. Revenues were a hair light of expectations at $23.71 billion in the quarter. J&J is a company that, simply, does not miss on earnings — going back far longer than a decade. Shares are down on this weak trading pre-market, -1.3%, and now -6% year to date.
Zacks Rank #5 (Strong Sell)-rated General Electric (GE - Free Report) was also mixed in its Q4 results, with earnings coming in better than expected: $1.24 per share versus $1.11 in the Zacks consensus. Revenues of $21.79 billion was beneath the $21.94 billion analysts were looking for. Pre-market trading sees GE stock down -2.3%, though the shares are up nearly +50% over the past six months.
3M (MMM - Free Report) was mixed in the opposite way this morning: earnings of $2.28 per share came in -2.56% lower than the $2.34 expected (and three cents lower than year-ago earnings) on quarterly sales of $8.08 billion, which improved over the Zacks consensus by +0.58%. Full-year guidance was ramped down, however, which has delivered a hit to MMM shares in the pre-market, -5%.
The Travelers Companies (TRV - Free Report) met expectations on its bottom line this morning, after last week’s guide downward: $3.40 per share was reported, well off the $5.20 reported in the year-ago quarter. Revenues of $9.63 billion were slightly ahead of expectations. Cat losses from recent winter blizzard conditions were what prompted the pre-announcement last week. Shares are trading flat in today’s early trading.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The busiest day of Q4 earnings season so far is here, with plenty of big-name companies reporting ahead of the opening bell. Whether pre-market futures are reacting to results or just doing some profit-taking off recent highs is hard to tell — the Dow is -150 points at this hour, the S&P 500 is -20 and the Nasdaq -85 points currently.
No economic data has hit the tape in today’s pre-market, as we are back-loaded this week for such things. After the open today, we’ll get January numbers for S&P PMI Manufacturing and Services. Both are expected to come in below the 50 level, which is the inflection point between positive and negative growth. Q4 GDP, Jobless Claims and a new PCE report all come out Thursday or Friday this week.
Johnson & Johnson (JNJ - Free Report) beat estimates decisively on its bottom line to $2.35 per share in its Q4, from $2.22 expected, for a nearly +6% earnings surprise. Revenues were a hair light of expectations at $23.71 billion in the quarter. J&J is a company that, simply, does not miss on earnings — going back far longer than a decade. Shares are down on this weak trading pre-market, -1.3%, and now -6% year to date.
Zacks Rank #5 (Strong Sell)-rated General Electric (GE - Free Report) was also mixed in its Q4 results, with earnings coming in better than expected: $1.24 per share versus $1.11 in the Zacks consensus. Revenues of $21.79 billion was beneath the $21.94 billion analysts were looking for. Pre-market trading sees GE stock down -2.3%, though the shares are up nearly +50% over the past six months.
3M (MMM - Free Report) was mixed in the opposite way this morning: earnings of $2.28 per share came in -2.56% lower than the $2.34 expected (and three cents lower than year-ago earnings) on quarterly sales of $8.08 billion, which improved over the Zacks consensus by +0.58%. Full-year guidance was ramped down, however, which has delivered a hit to MMM shares in the pre-market, -5%.
The Travelers Companies (TRV - Free Report) met expectations on its bottom line this morning, after last week’s guide downward: $3.40 per share was reported, well off the $5.20 reported in the year-ago quarter. Revenues of $9.63 billion were slightly ahead of expectations. Cat losses from recent winter blizzard conditions were what prompted the pre-announcement last week. Shares are trading flat in today’s early trading.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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