Stocks / Highlights
Dow 30 Earnings: Pfizer Fourth Quarter 2019
Michael Ratty | 01/28/2020
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.
Stocks / HighlightsDow 30 Earnings: 3M Company Fourth Quarter 2019
Andre J. Costanza | 01/28/2020
Shares 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.
Stocks / HighlightsDow 30 Earnings: United Technologies Fourth Quarter 2019
Erik M. Manning | 01/28/2020
Industrial conglomerate United Technologies ended 2019 with a solid fourth-quarter performance. Management also provided further details on the company’s planned separation.
Markets / CommentariesStock Market Today: January 28, 2020
William G. Ferguson and John E. Seibert III | 01/28/2020
The stock market started quite positively today, rebounding well off of yesterday’s lows. A news report stated that Apple (AAPL) plans to boost iPhone production by 10% when compared to the first half of 2019. Given the company’s weight in the Dow Jones Industrial Average and S&P 500, the substantial price movement pushed the indices higher. However, quarterly earnings reports and the new 2020 outlooks for 3M (MMM) and Pfizer (PFE). The indices rose steadily throughout the session and ended not far from the highs of the day. All told the Dow closed higher by 187 points, the S&P 500 was up 33 points, and the NASDAQ rose 130 points.
Markets / CommentariesStock Market Today: January 27, 2020
William G. Ferguson and Adam Rosner | 01/27/2020
Stocks opened sharply lower this morning, traded in sideways pattern for much of the afternoon, and finished the session on a weak note. Earlier today, investors were rattled by reports that the Coronavirus in China has been spreading. Furthermore, news that the virus has moved to other countries, including the U.S., likely did not help matters. In addition to health concerns, Wall Street is probably worried that the situation could hurt the global economy and corporate profits. At the close of the session, the Dow Jones Industrial Average was down 454 points; the broader S&P 500 Index was off 52 points, and the NASDAQ was lower by 176 points.
Stocks / HighlightsDow 30 Earnings: American Express Fourth Quarter 2019
Ian Gendler | 01/24/2020
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.
Stocks / HighlightsDow 30 Earnings: Intel Corp. Fourth Quarter 2019
Alan House | 01/24/2020
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.
Markets / CommentariesStock Market Today: January 24, 2020
Harvey S. Katz, CFA and Adam Rosner | 01/24/2020
Stocks opened higher this morning, but sank deep into negative territory in the afternoon. The averages attempted to recover some ground late in the session, but with limited success. Earlier today sentiment seemed somewhat optimistic. However, the mood turned apprehensive, as traders worried that a deadly virus in China might be difficult to contain. Of note, the virus has made its way to a number of countries, and a second person in the U.S. was recently diagnosed with the illness.
Stocks / HighlightsDow 30 Earnings: Procter and Gamble Second Quarter Fiscal 2020
Orly Seidman | 01/23/2020
Investors had little reaction to Procter and Gamble’s fiscal second-quarter results, leaving the stock little changed on the news.