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Tesla Homers, Sets Sights on S&P 500; Plus MSFT, CMG & More
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Tesla (TSLA - Free Report) appears headed for the S&P 500 following a big beat on top and bottom lines in its Q2 results, swinging to a boffo positive number on the bottom line to $2.18 per share from a Zacks consensus estimate of -$0.49. In the year-ago quarter, the last time Tesla posted an earnings miss, the electric car maker brought in -$1.12 per share. Revenues were similarly terrific: $6.04 billion easily outperformed the 4.96 billion expected in the quarter.
Shares of Tesla are up another 6% in late trading as of Wednesday afternoon following the earnings release. This follows a 1.5% gain during regular trading ahead of the report, and is up nearly 275% year to date — an astounding feat considering the lockdown from coronavirus hit markets very hard across the board earlier this year.
Operating cash flow came in better than expected for Tesla, its Model Y production is increasing, and the company has plans for a new Gigafactory in one of two sites the company has selected — but Tesla has not yet indicated where it is located in its quarterly letter to investors. Clearly, CEO Elon Musk is having a good time of it these days, following several combative quarters with short-sellers and tweets demeaning his personal conduct, but those days look light-years away today.
Microsoft (MSFT - Free Report) , the best-performing stock on the Dow index year to date, topped estimates in both earnings and sales in its fiscal Q4 report: $1.46 per share outpaced expectations by 8 cents, +9 cents from the year-ago quarter; revenues of $38.03 billion surged past the $36.59 billion in the Zacks consensus. Shares, which had been up 34% from the start of 2020, began selling off roughly 3% on the release (Microsoft trade up 1.4% in regular Wednesday trading).
Segment by segment, we see mostly in-line numbers — Intelligent Cloud at $13.4 billion, Azure +47%, Xbox up. And beating bottom-line estimates is nothing shocking for Microsoft; the company has not posted an earnings miss since Q1 2016, fewer than two years after CEO Satya Nadella took the helm as CEO. The software giant is now a $1.6 trillion market-cap company. For more on MSFT's earnings, click here.
Chipotle (CMG - Free Report) also posted positive surprises on top and bottom lines, though not by the margins we saw with Tesla and Microsoft: 40 cents per share beat projections by 2 cents, while sales of $1.36 billion in the quarter was a step up from the $1.33 billion expected. Same-store sales were down 9.8% in the quarter, but this was a better performance than expected following a huge 24% drop in the month of April. Digital sales, however, rose 216% in the quarter, now accounting for 61% of total sales.
Whirlpool (WHR - Free Report) benefited from the “shelter in place” quarter, posting a huge positive surprise of its own: $2.15 per share versus 74 cents anticipated. Revenues came in at $4.04 billion from the $3.57 billion in the Zacks consensus. A recovery in demand for washers, dryers and kitchen appliances boosted levels for the company in the quarter, whose stock rose 5.7% on the earnings release. For more on WHR's earnings, click here.
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Tesla Homers, Sets Sights on S&P 500; Plus MSFT, CMG & More
Tesla (TSLA - Free Report) appears headed for the S&P 500 following a big beat on top and bottom lines in its Q2 results, swinging to a boffo positive number on the bottom line to $2.18 per share from a Zacks consensus estimate of -$0.49. In the year-ago quarter, the last time Tesla posted an earnings miss, the electric car maker brought in -$1.12 per share. Revenues were similarly terrific: $6.04 billion easily outperformed the 4.96 billion expected in the quarter.
Shares of Tesla are up another 6% in late trading as of Wednesday afternoon following the earnings release. This follows a 1.5% gain during regular trading ahead of the report, and is up nearly 275% year to date — an astounding feat considering the lockdown from coronavirus hit markets very hard across the board earlier this year.
Operating cash flow came in better than expected for Tesla, its Model Y production is increasing, and the company has plans for a new Gigafactory in one of two sites the company has selected — but Tesla has not yet indicated where it is located in its quarterly letter to investors. Clearly, CEO Elon Musk is having a good time of it these days, following several combative quarters with short-sellers and tweets demeaning his personal conduct, but those days look light-years away today.
Microsoft (MSFT - Free Report) , the best-performing stock on the Dow index year to date, topped estimates in both earnings and sales in its fiscal Q4 report: $1.46 per share outpaced expectations by 8 cents, +9 cents from the year-ago quarter; revenues of $38.03 billion surged past the $36.59 billion in the Zacks consensus. Shares, which had been up 34% from the start of 2020, began selling off roughly 3% on the release (Microsoft trade up 1.4% in regular Wednesday trading).
Segment by segment, we see mostly in-line numbers — Intelligent Cloud at $13.4 billion, Azure +47%, Xbox up. And beating bottom-line estimates is nothing shocking for Microsoft; the company has not posted an earnings miss since Q1 2016, fewer than two years after CEO Satya Nadella took the helm as CEO. The software giant is now a $1.6 trillion market-cap company. For more on MSFT's earnings, click here.
Chipotle (CMG - Free Report) also posted positive surprises on top and bottom lines, though not by the margins we saw with Tesla and Microsoft: 40 cents per share beat projections by 2 cents, while sales of $1.36 billion in the quarter was a step up from the $1.33 billion expected. Same-store sales were down 9.8% in the quarter, but this was a better performance than expected following a huge 24% drop in the month of April. Digital sales, however, rose 216% in the quarter, now accounting for 61% of total sales.
Whirlpool (WHR - Free Report) benefited from the “shelter in place” quarter, posting a huge positive surprise of its own: $2.15 per share versus 74 cents anticipated. Revenues came in at $4.04 billion from the $3.57 billion in the Zacks consensus. A recovery in demand for washers, dryers and kitchen appliances boosted levels for the company in the quarter, whose stock rose 5.7% on the earnings release. For more on WHR's earnings, click here.
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Is the Market Rigged?
Computer-driven High-Frequency Traders (HFTs) manipulate the market thousands of times a day – and their gains come at the expense of human investors. Zacks has mounted a Counterstrike to take advantage of the best profit opportunities created by HFTs. Access to these recommendations must be limited; the doors soon.
See Counterstrike Trades Now >>