On today’s episode of Free Lunch, Ryan McQueeney recaps earnings results from IBM, United Technologies, Procter & Gamble, and Comcast. Later, he previews upcoming reports from chip giants Texas Instruments and Intel.
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Stocks whipsawed in morning trading, but several notable companies, including a few Dow members, saw solid gains on the back of impressive earnings results.
This included IBM (IBM - Free Report) , which reported on Tuesday afternoon. The IT behemoth reported year-over-year revenue and earnings declines, but its profit outlook for 2019 was upbeat compared to early estimates, and investors were happy to send the stock higher.
Similarly, United Technologies (UTX - Free Report) moved into the green thanks to its results and outlook. The defense and industrial conglomerate easily beat EPS estimates, and its guidance for 2019 fell near the higher end of expectations. The stock added about 5% at the open on Wednesday.
Another Dow member that posted results today was Procter & Gamble (PG - Free Report) . The consumer staples company added to the positivity, reporting better-than-expected earnings and revenue results. Procter & Gamble also affirmed its prior guidance and is looking for per share profits to rise 3% to 8% this year.
Even Comcast (CMCSA - Free Report) got in on the fun this morning. Thanks in part to the Sky acquisition, Comcast’s quarterly revenue surged 27%, helping the company surpass estimates on the top and bottom lines. Shares of the cable and internet giant opened about 4% higher today.
On the first half of today’s show, Ryan recaps all of these earnings results. Later, he previews the upcoming reports of Texas Instruments (TXN - Free Report) and Intel (INTC - Free Report) .
Texas Instruments is due to report after the bell today, and Intel will join with its report tomorrow afternoon. Each of these two reports should be great reads on the semiconductor industry, which struggled in 2018.
But chip stocks struggled last year not because they weren’t seeing growth, but because investors saw an end to that growth coming in 2019. So what are analysts expecting to see from these reports? What kind of guidance will TXN and INTC need to post to cool fears of a dramatic pullback? Ryan explores these questions on today’s show!
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