Wednesday, October 26, 2016

Futures are down again in the pre-market today, following a marginally down day Tuesday, as Q3 earnings season digests the pig through the python. Yesterday’s one-cent beat by Apple (AAPL Quick QuoteAAPL - Free Report) was overshadowed by its first sales decline year over year in a decade and a half. But there are plenty more quarterly earnings results on the front burner:

Aerospace giant Boeing (BA Quick QuoteBA - Free Report) recorded a beat on top and bottom lines before the bell today — $2.81 per share topped the $2.62 expected, on sales of $23.9 billion over the $23.5 billion in the Zacks consensus estimate. These revenues are down year over year, but fiscal 2016 guidance for Boeing of $6.80-$7.00 per share is well above the $6.32 expected.

Hilton Worldwide (HLT Quick QuoteHLT - Free Report) just met earnings per share of 23 cents, but just missed revenue estimates of $3.01 billion by posting $2.94 billion in the quarter. RevPAR comps were up 1.3% (currency neutral basis). Shares of the major hotelier are down more than 3.5% over the past month.

Coca-Cola (KO Quick QuoteKO - Free Report) beat on both top and bottom lines, outperforming earnings by a penny at 49 cents per share, and sales of $10.63 billion topped the $10.55 billion in the Zacks consensus estimate. Pre-market shares of KO are up 1.3%.

International snack giant Mondelez (MDLZ Quick QuoteMDLZ - Free Report) posted a strong beat on earnings — 52 cents per share easily knocking off the 43 cents expected — but missed sales estimates of $6.46 billion by $6 million or so. These numbers are also down from a year ago’s $6.85 billion. Yet pre-market activity has been positive for Mondelez, up 2.3% in early trading.

Also, the September trade deficit was better than expected at -$56.08 billion. However, with recent strength in the dollar overseas, analysts aren’t expecting big positive results to last looking forward.

Mark Vickery
Senior Editor

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