Pre-market futures are back up again this morning, with a series of Q4 earnings reports greeting us in the early morning hours, with the only major economic reads — S&P flash Services and Manufacturing PMI — expected after the opening bell. Both the Dow and Nasdaq are up +158 points at this hour, +0.41% and +0.90%, respectively, while the S&P 500 is +0.58% and the small-cap Russell 2000 is double that: +1.19%.
Zacks Rank #2 (Buy)-rated Big Pharma staple Abbott Labs (ABT - Free Report) met bottom-line expectations in its Q4 earnings report this morning, at $1.19 per share (an improvement year over year from $1.03 per share). Revenues of $10.24 billion came in slightly better than the $10.17 billion in the Zacks consensus. Full-year earnings per share estimates have been ratcheted up to a range of $4.50-4.70, with full-year organic sales growth expected up between 8-10%.
Aerospace and Defense firm General Dynamics (GD - Free Report) posted a 2-cent miss on its Q4 bottom line this morning, to $3.64 per share (above the $3.58 reported in the year-ago quarter), while revenues for the quarter came in at $11.7 billion from $11.54 billion anticipated by analysts. This was the first time in 12 quarters GD missed earnings expectations; shares are bouncing in pre-market trading, but down -3.5% year to date, up +14% over the past six months.
Paper products manufacturing giant Kimberly-Clark (KMB - Free Report) also missed earnings estimates by 2 cents on its Q4 earnings print this morning, pulling in $1.51 per share for the quarter (3 cents lower than the year-ago figure, as well), on top-line revenues of $4.97 billion which narrowly missed expectations by -0.32%. Pre-market trading has taken the stock down -4% on the news; Kimberly-Clark now trades -2% year to date.
Minerals and mining major Freeport McMoRan (FCX - Free Report) , on the other hand, is trading +6.4% higher in today’s pre-market on a 6-cent beat on earnings to 27 cents per share in the company’s Q4 report, with revenues of $5.91 billion outpacing expectations of $5.82 billion. Full-year revenues came in slightly ahead of expectations, as well. Shares had taken a -9% bath year to date; this earnings reports look to have put in something of a correction for the mining giant.
After today’s closing bell is where the big news is for today: Tesla (TSLA - Free Report) reports Q4 earnings, where the Zacks Rank #2 company is expected to post earnings -37% lower than in the year-ago quarter. Revenues, however, look to have grown +6.6% year over year. We’ll also see Q4 earnings results from tech stalwart IBM (IBM - Free Report) and enterprise software growth company ServiceNow (NOW - Free Report) after today’s close.
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Pre-market futures are back up again this morning, with a series of Q4 earnings reports greeting us in the early morning hours, with the only major economic reads — S&P flash Services and Manufacturing PMI — expected after the opening bell. Both the Dow and Nasdaq are up +158 points at this hour, +0.41% and +0.90%, respectively, while the S&P 500 is +0.58% and the small-cap Russell 2000 is double that: +1.19%.
Zacks Rank #2 (Buy)-rated Big Pharma staple Abbott Labs (ABT - Free Report) met bottom-line expectations in its Q4 earnings report this morning, at $1.19 per share (an improvement year over year from $1.03 per share). Revenues of $10.24 billion came in slightly better than the $10.17 billion in the Zacks consensus. Full-year earnings per share estimates have been ratcheted up to a range of $4.50-4.70, with full-year organic sales growth expected up between 8-10%.
Aerospace and Defense firm General Dynamics (GD - Free Report) posted a 2-cent miss on its Q4 bottom line this morning, to $3.64 per share (above the $3.58 reported in the year-ago quarter), while revenues for the quarter came in at $11.7 billion from $11.54 billion anticipated by analysts. This was the first time in 12 quarters GD missed earnings expectations; shares are bouncing in pre-market trading, but down -3.5% year to date, up +14% over the past six months.
Paper products manufacturing giant Kimberly-Clark (KMB - Free Report) also missed earnings estimates by 2 cents on its Q4 earnings print this morning, pulling in $1.51 per share for the quarter (3 cents lower than the year-ago figure, as well), on top-line revenues of $4.97 billion which narrowly missed expectations by -0.32%. Pre-market trading has taken the stock down -4% on the news; Kimberly-Clark now trades -2% year to date.
Minerals and mining major Freeport McMoRan (FCX - Free Report) , on the other hand, is trading +6.4% higher in today’s pre-market on a 6-cent beat on earnings to 27 cents per share in the company’s Q4 report, with revenues of $5.91 billion outpacing expectations of $5.82 billion. Full-year revenues came in slightly ahead of expectations, as well. Shares had taken a -9% bath year to date; this earnings reports look to have put in something of a correction for the mining giant.
After today’s closing bell is where the big news is for today: Tesla (TSLA - Free Report) reports Q4 earnings, where the Zacks Rank #2 company is expected to post earnings -37% lower than in the year-ago quarter. Revenues, however, look to have grown +6.6% year over year. We’ll also see Q4 earnings results from tech stalwart IBM (IBM - Free Report) and enterprise software growth company ServiceNow (NOW - Free Report) after today’s close.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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