Q1 earnings season sees its first two big S&P 500 firms reporting this week: Delta Air Lines (DAL - Free Report) and industrial and contraction supplies company Fastenal (FAST - Free Report) . Delta beat its bottom line estimate by 4 cents to 77 cents per share, on $9.15 billion in sales for the quarter, a twinge below the $9.16 billion expected.
Guidance improved for Q2 at Delta as well, as positive year-over-year comps gets closer for the airline major. Shares of DAL are up nearly 2.7% in the pre-market, though they’re still down roughly 5% year-to-date.
For Zacks Rank #2 (Buy) Fastenal, the company just met earnings expectations of 46 cents per share on better-than expected revenues of $1.05 billion. Average daily sales for Q1 rose to 6.2%. Shares are selling off on this news to the tune of 4.6%, but consider that Fastenal — an important cog in the wheel for domestic construction and infrastructure — is up more than 25% since the November 8 election, and this looks like profit-booking from this vista.
For a detailed look at Q1 earnings, please check out Zacks Director of Research Sheraz Mian’s latest Earnings Preview: Can Banks Get Their Mojo Back?
Looking for a stock with a big upswing this morning? BlackBerry has zoomed up more than 16% in today’s pre-market following an announcement that an arbitration case has awarded the smartphone pioneer $815 million from Qualcomm (QCOM - Free Report) . That said, approaching $9 per share is still within the long tail of lowered valuation in this company’s trading history. This Zacks Rank #3 (Hold) company had a Style Score (Value, Growth, Momentum) of C ahead of the arbitration decision.
March Import Prices have been released ahead of the opening bell today, with a -0.2% number month over month in-line with expectations. February’s headline figure doubled from +0.2% to +0.4%, though year over year is 4.2%, down from the 4.8% year-over-year read a month ago. Subtract petroleum prices and this number jumps to +0.2%; it was +0.3% a month ago, and has been left unchanged.
Export Prices also came in-line this morning at +0.2%, following an unrevised +0.3% for February. Both Imports and Exports hovering around a zero balance indicates overall equilibrium, and if we’d prefer to see one side hotter than the other it would be the Export side, which it is. A good report, but nothing earth-shattering.
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.
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Q1 earnings season sees its first two big S&P 500 firms reporting this week: Delta Air Lines (DAL - Free Report) and industrial and contraction supplies company Fastenal (FAST - Free Report) . Delta beat its bottom line estimate by 4 cents to 77 cents per share, on $9.15 billion in sales for the quarter, a twinge below the $9.16 billion expected.
Guidance improved for Q2 at Delta as well, as positive year-over-year comps gets closer for the airline major. Shares of DAL are up nearly 2.7% in the pre-market, though they’re still down roughly 5% year-to-date.
For Zacks Rank #2 (Buy) Fastenal, the company just met earnings expectations of 46 cents per share on better-than expected revenues of $1.05 billion. Average daily sales for Q1 rose to 6.2%. Shares are selling off on this news to the tune of 4.6%, but consider that Fastenal — an important cog in the wheel for domestic construction and infrastructure — is up more than 25% since the November 8 election, and this looks like profit-booking from this vista.
For a detailed look at Q1 earnings, please check out Zacks Director of Research Sheraz Mian’s latest Earnings Preview: Can Banks Get Their Mojo Back?
Looking for a stock with a big upswing this morning? BlackBerry has zoomed up more than 16% in today’s pre-market following an announcement that an arbitration case has awarded the smartphone pioneer $815 million from Qualcomm (QCOM - Free Report) . That said, approaching $9 per share is still within the long tail of lowered valuation in this company’s trading history. This Zacks Rank #3 (Hold) company had a Style Score (Value, Growth, Momentum) of C ahead of the arbitration decision.
March Import Prices have been released ahead of the opening bell today, with a -0.2% number month over month in-line with expectations. February’s headline figure doubled from +0.2% to +0.4%, though year over year is 4.2%, down from the 4.8% year-over-year read a month ago. Subtract petroleum prices and this number jumps to +0.2%; it was +0.3% a month ago, and has been left unchanged.
Export Prices also came in-line this morning at +0.2%, following an unrevised +0.3% for February. Both Imports and Exports hovering around a zero balance indicates overall equilibrium, and if we’d prefer to see one side hotter than the other it would be the Export side, which it is. A good report, but nothing earth-shattering.
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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