These 3 companies reported earnings on Thursday. In addition to a weaker US Dollar, will earnings provide an extra boost to these stocks?
1) Supervalu (NYSE:SVU): Shares were on fire today after the company reported fiscal Q4 earnings. EPS of 44 cents beat estimates by 10 cents. Revenue decreased 5.9% from last year to $8.66 billion. The company operates food retail stores across the US, and sells everything from general merchandise to health and beauty products. Shares in competitors Kroger (NYSE:KR) and Safeway (NYSE:SWY) also increased today.
2) Google (NASDAQ:GOOG): After the closing bell, internet ruler Google reported Q1 earnings. EPS of $8.08 missed estimates by 2 cents, but revenue increased 29% to $6.54 million. Analysts were quick to point out the company’s recent spending spree. The company hired 1,900 new employees during the quarter. Operating costs and salaries were $2.84 billion in Q1, which represents a 55% increase from last year. Shares are down over 5% in late trading. Will the new employee workforce continue Google’s dominance over Microsoft (NASDAQ:MSFT) and Yahoo (NASDAQ:YHOO). Don’t Miss: Here are the Two Reasons Investors Kicked Google Below the Belt.
3) Progressive (NYSE:PGR): Shares slipped 1.31% after the insurance holding company reported Q1 earnings. EPS of 55 cents beat estimates by 11 cents. The company managed to increase revenue by only 3.2% to $3.9 billion. Q1 net profit was assisted by a 62% increase in security gains as the markets recover from the recession lows. The company should also continue to see an increase in profits due to higher premiums written. In the state of Missouri alone, Progressive has been approved to hike rates by 18% and higher on home insurance policies. Investors should keep an eye on customers potentially switching to less expensive insurance policies from companies like AAA. Other insurance plays include Allstate (NYSE:ALL), AFLAC (NYSE:AFL), and of course Berkshire Hathaway (NYSE:BRKB).
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Disclosure: No positions