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Notable Stocks Moving After Earnings: NFLX, IBM, USB & More
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Stocks shrugged off early morning losses and briefly rallied into the green on Wednesday afternoon, but Wall Street remained cautious ahead of the release of the latest Fed meeting minutes. That event will likely move markets this afternoon, although investors had plenty of solid earnings reports to celebrate regardless.
Through 1:45 p.m. Wednesday, the S&P 500 was up about 0.15%, while the tech heavy Nasdaq had inched about 0.05% higher. The Dow was basically flat on the day at that time, just a few minutes before the Fed was scheduled to release the minutes.
But Wednesday’s caution also comes amid mostly positive earnings reports yesterday afternoon and before the bell today. Here’s a closer look at a few noteworthy stocks moving after reporting.
Netflix posted its Q3 results after the bell Tuesday, notching better-than-expected earnings of 89 cents per share and revenue growth of 34%. Perhaps more importantly, the video streaming company added about 7 million subscribers in the quarter, outpacing its own estimates by 2 million.
Wall Street loves to see that type of subscriber growth from Netflix, and shares were up about 3.5% through early afternoon trading Wednesday.
U.S. Bancorp, the holding company of U.S Bank, reported before the bell today. The major consumer banking firm tallied earnings of $1.06 per share, beating the Zacks Consensus mark by 2 cents. Revenue for the quarter came in at $5.7 billion, also topping our consensus projection. USB shares were on track to finish about 3.3% higher through early afternoon hours today.
RV maker Winnebago this morning reported earnings of 94 cents per share, comfortably beating the Zacks Consensus Estimate of 86 cents. This represented a positive earnings surprise of 9.3%. Revenue for the quarter topped our consensus estimate by 5.7% and totaled $536.2 million.
Winnebago shares were down more than 40% on the year heading into the report, but the stock has added more than 5.7% today.
Notable Losers
International Business Machines Corporation (IBM - Free Report)
Tech behemoth IBM yesterday reported Q3 adjusted earnings of $3.42 per share, which beat the Zacks Consensus Estimate by 2 cents and improved 4.9% year over year. However, quarterly revenue of $18.8 billion lagged the Zacks Consensus and declined about 2.1% from the prior-year period.
The firm saw strong growth in Strategic Imperatives—a unit which includes cloud and security—but it was not enough to overcome top-line estimates. Shares were down more than 7% on Wednesday.
Uniform market UniFirst reported earnings of $2.06 per share and revenue of $434.1 million, topping the respective Zacks Consensus Estimates by 25.6% and 2.9%. However, the results were not enough to reverse recent volatility, and shares fell about 7.3% through early afternoon trading. The stock is down more than 20% since early August.
Looking Ahead
Wall Street will now parse through the Fed minutes and determine how it feels about the central bank’s latest sentiment. After the bell, fresh earnings data from the likes of Kinder Morgan (KMI - Free Report) , Alcoa (AA - Free Report) , and Wintrust Financial (WTFC - Free Report) will make headlines.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Image: Bigstock
Notable Stocks Moving After Earnings: NFLX, IBM, USB & More
Stocks shrugged off early morning losses and briefly rallied into the green on Wednesday afternoon, but Wall Street remained cautious ahead of the release of the latest Fed meeting minutes. That event will likely move markets this afternoon, although investors had plenty of solid earnings reports to celebrate regardless.
Through 1:45 p.m. Wednesday, the S&P 500 was up about 0.15%, while the tech heavy Nasdaq had inched about 0.05% higher. The Dow was basically flat on the day at that time, just a few minutes before the Fed was scheduled to release the minutes.
But Wednesday’s caution also comes amid mostly positive earnings reports yesterday afternoon and before the bell today. Here’s a closer look at a few noteworthy stocks moving after reporting.
Notable Gainers
Netflix, Inc. (NFLX - Free Report)
Netflix posted its Q3 results after the bell Tuesday, notching better-than-expected earnings of 89 cents per share and revenue growth of 34%. Perhaps more importantly, the video streaming company added about 7 million subscribers in the quarter, outpacing its own estimates by 2 million.
Wall Street loves to see that type of subscriber growth from Netflix, and shares were up about 3.5% through early afternoon trading Wednesday.
U.S. Bancorp (USB - Free Report)
U.S. Bancorp, the holding company of U.S Bank, reported before the bell today. The major consumer banking firm tallied earnings of $1.06 per share, beating the Zacks Consensus mark by 2 cents. Revenue for the quarter came in at $5.7 billion, also topping our consensus projection. USB shares were on track to finish about 3.3% higher through early afternoon hours today.
Winnebago Industries, Inc. (WGO - Free Report)
RV maker Winnebago this morning reported earnings of 94 cents per share, comfortably beating the Zacks Consensus Estimate of 86 cents. This represented a positive earnings surprise of 9.3%. Revenue for the quarter topped our consensus estimate by 5.7% and totaled $536.2 million.
Winnebago shares were down more than 40% on the year heading into the report, but the stock has added more than 5.7% today.
Notable Losers
International Business Machines Corporation (IBM - Free Report)
Tech behemoth IBM yesterday reported Q3 adjusted earnings of $3.42 per share, which beat the Zacks Consensus Estimate by 2 cents and improved 4.9% year over year. However, quarterly revenue of $18.8 billion lagged the Zacks Consensus and declined about 2.1% from the prior-year period.
The firm saw strong growth in Strategic Imperatives—a unit which includes cloud and security—but it was not enough to overcome top-line estimates. Shares were down more than 7% on Wednesday.
UniFirst Corporation ((UNF - Free Report) )
Uniform market UniFirst reported earnings of $2.06 per share and revenue of $434.1 million, topping the respective Zacks Consensus Estimates by 25.6% and 2.9%. However, the results were not enough to reverse recent volatility, and shares fell about 7.3% through early afternoon trading. The stock is down more than 20% since early August.
Looking Ahead
Wall Street will now parse through the Fed minutes and determine how it feels about the central bank’s latest sentiment. After the bell, fresh earnings data from the likes of Kinder Morgan (KMI - Free Report) , Alcoa (AA - Free Report) , and Wintrust Financial (WTFC - Free Report) will make headlines.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>