We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Strong Session; After Hours Earnings from AAPL, AMZN, META & More
Read MoreHide Full Article
Market activity got especially buoyant today, even after starting the session in the green across the board. What looked to be a short-term rally petering out gained steam around 11 am ET to close at session highs, on a series of data ranging from better-than-expected manufacturing and construction spending to hopes of a cease-fire in Gaza. The Dow finished up +369 points, +0.97%, while the S&P 500 was +1.25%. The Nasdaq and small-cap Russell 2000 both ended the trading day +1.30%.
S&P Manufacturing PMI for January outperformed expectations by 60 basis points to 50.7, easily above the 50-point threshold demonstrating growth, while ISM Manufacturing PMI came in at 49.1% — below that 50 threshold but nicely higher than the 47.2% analysts were estimating. Construction Spending nearly doubled expectations to +0.9% from +0.5% anticipated, matching the previous month’s total. And even though a cease-fire in Gaza was not reached today, some earlier reports may have led investors to be more optimistic on this prospect today.
Today’s big news, however, is here after the closing bell: earnings reports from some of the biggest names, including three of the so-called “Magnificent 7” stocks: Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) and Meta Platforms (META - Free Report) . This last comes just a day after CEO Mark Zuckerberg was grilled on Capitol Hill about safety concerns for children on their social media platforms. We also see results from specialty apparel firm Deckers Outdoor (DECK - Free Report) .
Apple reported fiscal Q1 results ahead of estimates on both top and bottom lines this afternoon: earnings of $2.19 per share beat the Zacks consensus by a solid dime, and were nicely ahead of the $1.88 per share reported in the year-ago quarter. Revenues of $119.58 billion outpaced the $117.6 billion expected. But weakness in China, and missed expectations in the iPad and Wearables groups are helping the stock dip -1.9% in late trading.
Amazon is doing much better, with Q4 earnings of $1.00 on revenues of a clean $170.0 billion easily surpassed the 80 cents per share and $166.26 billion analyst were looking for. Revenue guidance for next quarter of between $138-143.5 billion is still within the earlier expectations, but Operating Margins on the retail side grew by a very solid +6.1%. AWS sales reached $24.2 billion — up +13% year over year but exactly in-line with estimates. Shares are up +8.5% at this hour.
Meta Platforms came in at $5.33 per share on earnings and $40.1 billion in revenues after today’s close in its Q4 report. However, there seems to be some discrepancy on the bottom-line here, in particular with the previous year’s $1.76 per share as reported by the company; we had $3.00. Daily Active Users (DAU) rose +6% for the year to 2.11 billion, and the company now offers its first-ever monthly dividend of 50 cents per share. Meta has also reduced headcount by -22% year over year.
Deckers Outdoor brought the real prize of the afternoon, however, with earnings of $15.11 trouncing the $11.40 in the Zacks consensus, on revenues of $1.56 billion versus $1.44 billion expected. These are record numbers on both revenues and earnings. With inventories down during the 2023 holiday season, it appears Deckers has hit the sweet spot, with Gross Margins up at +58.7% and $1.6 billion in cash. Shares are up a solid +4.87% on this news.
Tomorrow morning, the big news will be the U.S. non-farm payroll data from the U.S. Bureau of Labor Statistics (BLS), which is supposed to bring in roughly 185K new jobs, with an Unemployment Rate ticking slightly higher to 3.8%. However, if yesterday’s ADP private-sector jobs report and this morning’s Jobless Claims data are any indication, we may see some room for BLS figures to hit below their target tomorrow.
Image: Bigstock
Strong Session; After Hours Earnings from AAPL, AMZN, META & More
Market activity got especially buoyant today, even after starting the session in the green across the board. What looked to be a short-term rally petering out gained steam around 11 am ET to close at session highs, on a series of data ranging from better-than-expected manufacturing and construction spending to hopes of a cease-fire in Gaza. The Dow finished up +369 points, +0.97%, while the S&P 500 was +1.25%. The Nasdaq and small-cap Russell 2000 both ended the trading day +1.30%.
S&P Manufacturing PMI for January outperformed expectations by 60 basis points to 50.7, easily above the 50-point threshold demonstrating growth, while ISM Manufacturing PMI came in at 49.1% — below that 50 threshold but nicely higher than the 47.2% analysts were estimating. Construction Spending nearly doubled expectations to +0.9% from +0.5% anticipated, matching the previous month’s total. And even though a cease-fire in Gaza was not reached today, some earlier reports may have led investors to be more optimistic on this prospect today.
Today’s big news, however, is here after the closing bell: earnings reports from some of the biggest names, including three of the so-called “Magnificent 7” stocks: Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) and Meta Platforms (META - Free Report) . This last comes just a day after CEO Mark Zuckerberg was grilled on Capitol Hill about safety concerns for children on their social media platforms. We also see results from specialty apparel firm Deckers Outdoor (DECK - Free Report) .
Apple reported fiscal Q1 results ahead of estimates on both top and bottom lines this afternoon: earnings of $2.19 per share beat the Zacks consensus by a solid dime, and were nicely ahead of the $1.88 per share reported in the year-ago quarter. Revenues of $119.58 billion outpaced the $117.6 billion expected. But weakness in China, and missed expectations in the iPad and Wearables groups are helping the stock dip -1.9% in late trading.
Amazon is doing much better, with Q4 earnings of $1.00 on revenues of a clean $170.0 billion easily surpassed the 80 cents per share and $166.26 billion analyst were looking for. Revenue guidance for next quarter of between $138-143.5 billion is still within the earlier expectations, but Operating Margins on the retail side grew by a very solid +6.1%. AWS sales reached $24.2 billion — up +13% year over year but exactly in-line with estimates. Shares are up +8.5% at this hour.
Meta Platforms came in at $5.33 per share on earnings and $40.1 billion in revenues after today’s close in its Q4 report. However, there seems to be some discrepancy on the bottom-line here, in particular with the previous year’s $1.76 per share as reported by the company; we had $3.00. Daily Active Users (DAU) rose +6% for the year to 2.11 billion, and the company now offers its first-ever monthly dividend of 50 cents per share. Meta has also reduced headcount by -22% year over year.
Deckers Outdoor brought the real prize of the afternoon, however, with earnings of $15.11 trouncing the $11.40 in the Zacks consensus, on revenues of $1.56 billion versus $1.44 billion expected. These are record numbers on both revenues and earnings. With inventories down during the 2023 holiday season, it appears Deckers has hit the sweet spot, with Gross Margins up at +58.7% and $1.6 billion in cash. Shares are up a solid +4.87% on this news.
Tomorrow morning, the big news will be the U.S. non-farm payroll data from the U.S. Bureau of Labor Statistics (BLS), which is supposed to bring in roughly 185K new jobs, with an Unemployment Rate ticking slightly higher to 3.8%. However, if yesterday’s ADP private-sector jobs report and this morning’s Jobless Claims data are any indication, we may see some room for BLS figures to hit below their target tomorrow.
Questions or comments about this article and/or author? Click here>>