New York-based drugmaker and Dow-30 component Pfizer (PFE) reported a fourth-quarter GAAP loss of $0.06 a share, versus a $0.07 deficit in the comparable period of 2018. The modest year-over-year improvement was driven by lower production costs (-15%) and a significant reduction in restructuring charges (-48%), which helped mitigate increases in R&D (+15%) and SG&A expenses (+6%), and a 9% pullback in revenues (more below). Meantime, adjusted earnings, which exclude one-time gains, losses and other nonrecurring items, and are more closely followed by Wall Street, came in at $0.55 a share, versus $0.63 in Q4, 2018. The adjusted tally missed consensus expectations looking for $0.58 on average, owing in part to a roughly $40 million miss on the top line. Shares of PFE were trading a few percentage points lower on the release.
of diversified products manufacturer
and Dow-30 member 3M
(MMM) fell after
the company reported lesser fourth
-quarter financials than expected
and issued disappointing guidance
Industrial conglomerate United Technologies ended 2019
with a solid
on the company’s planned separation
American Express, (AXP) a Dow-30 component and one of the world's largest issuers of credit cards, reported December-period financial results that were largely in line with our estimates. The shares advanced modestly following the news.
Investors cheer Intel’s
strong December-quarter results
. The chip behemoth
also issued solid guidance
for both the March period and all of 2020. Growth continues to be powered by the company’s data-centric businesses.
had little reaction
and Gamble’s fiscal second
, leaving the stock little changed on the news
Property/Casualty insurer Travelers (TRV) reported solid results for the December period. However, its share price has slipped moderately in trading this morning, along with the broader market averages. Travelers’ shares have performed quite well in recent weeks, and thus it may have been due for a haircut. Looking at it with more granularity, earnings from operations, which exclude capital gains and losses from investments, clocked in at $3.32 a share in the December period, which was a dime higher than our expectation and a whopping 56% higher than the previous-year period.
fourth-quarter results miss expectations
and the shares dip in value accordingly
International Business Machines, (IBM) a global provider of mainframe computers, as well as computer software and services, reported earnings for the December quarter and 2019 that matched expectations, on better-than-anticipated revenues. The company's declining revenues have been a concern in recent years, and the improvement cheered investors, who bid the stock up over 4% during recent trading.
UnitedHealth Group, (UNH) the nation's largest health insurer and a Dow-30 component, has released financials for the fourth quarter of 2019. Revenues came in a bit shy of expectations, but adjusted earnings were comfortably ahead of the consensus. The shares rose more than 2% in early morning trading after some profit taking in the premarket.