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Markets are slumbering again in today’s pre-market, after seeing the wind come out of the sales Monday afternoon, about an hour before the closing bell. The indexes are still driving the bus, but looks currently a little confused about its destination, short-term.
We had been transitioning from growth to cyclicals and back again, but right now it doesn’t look like a lot of new money is being put to work: the Dow is down 300 points, the Nasdaq right behind, and the S&P 500 is down 60.
The Great Reopening was supposed to be a no-brainer, and to a good extent it is — even last week’s “disappointing” jobs numbers showed more than a quarter of a million new positions and 6.1% unemployment aren’t as robust as expected, perhaps, but are firmly pointed in the right direction. That we’re taking longer to get there is not so much a problem for investors this morning as an absence of interest in getting in further.
Specialty retailer Hanesbrands (HBI - Free Report) easily beat expectations on its bottom line: 39 cents per share versus 25 cents expected (and far better than the 5 cents per share reported a year ago). Revenues of $1.51 billion (advanced past the $1.32 billion in the year-ago quarter) topped estimates by 0.67%. It’s the fourth-straight earning beat for the Zacks Rank #3 (Hold)-rated underwear maker. But the stock is taking a bath on the news, -12% on a down morning overall. For more on HBI’s earnings, click here.
Palantir’s (PLTR - Free Report) third earnings report in its short public existence met on earnings — $0.04 per share — while beating decisively on the top-line: $341 million versus $343 million expected. The cyber-analytics (including U.S. intel and Defense) firm has raised sales guidance for Q2, and expects yearly revenue growth +30% through 2025. Shares are down 7%, however, getting its share of morning carnage. The company is down 21% year to date but +94% year over year.
After today’s close, we look forward to fiscal Q4 numbers for Electronic Arts (EA - Free Report) . Also a Zacks Rank #3, expectations are for $1.04 per share on earnings, and $1.40 billion in quarterly sales. The company is carrying a string of six consecutive earnings beats, but that may not mean much if the market stays in this ditch today.
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Earnings Data Deluge
Markets are slumbering again in today’s pre-market, after seeing the wind come out of the sales Monday afternoon, about an hour before the closing bell. The indexes are still driving the bus, but looks currently a little confused about its destination, short-term.
We had been transitioning from growth to cyclicals and back again, but right now it doesn’t look like a lot of new money is being put to work: the Dow is down 300 points, the Nasdaq right behind, and the S&P 500 is down 60.
The Great Reopening was supposed to be a no-brainer, and to a good extent it is — even last week’s “disappointing” jobs numbers showed more than a quarter of a million new positions and 6.1% unemployment aren’t as robust as expected, perhaps, but are firmly pointed in the right direction. That we’re taking longer to get there is not so much a problem for investors this morning as an absence of interest in getting in further.
Specialty retailer Hanesbrands (HBI - Free Report) easily beat expectations on its bottom line: 39 cents per share versus 25 cents expected (and far better than the 5 cents per share reported a year ago). Revenues of $1.51 billion (advanced past the $1.32 billion in the year-ago quarter) topped estimates by 0.67%. It’s the fourth-straight earning beat for the Zacks Rank #3 (Hold)-rated underwear maker. But the stock is taking a bath on the news, -12% on a down morning overall. For more on HBI’s earnings, click here.
Palantir’s (PLTR - Free Report) third earnings report in its short public existence met on earnings — $0.04 per share — while beating decisively on the top-line: $341 million versus $343 million expected. The cyber-analytics (including U.S. intel and Defense) firm has raised sales guidance for Q2, and expects yearly revenue growth +30% through 2025. Shares are down 7%, however, getting its share of morning carnage. The company is down 21% year to date but +94% year over year.
After today’s close, we look forward to fiscal Q4 numbers for Electronic Arts (EA - Free Report) . Also a Zacks Rank #3, expectations are for $1.04 per share on earnings, and $1.40 billion in quarterly sales. The company is carrying a string of six consecutive earnings beats, but that may not mean much if the market stays in this ditch today.