Mixed Earnings Mean Mixed Markets: Morning Buzzers
Stock futures were mixed on Wednesday as corporate earnings released before the opening bell landed all over the place.
Futures at 8:45 a.m.: DJIA: +0.08%, S&P 500: -0.03%, NASDAQ: -0.12%.
Here’s what’s buzzing on Wednesday morning:
Apple (NASDAQ:AAPL) was off as much as 3 percent in pre-market trading after a relatively quiet earnings report on Tuesday evening. Revenue climbed 11.67 percent on the year to $43.6 billion, ahead of estimates for $42.59 billion. Adjusted earnings declined 17.97 percent to $10.09, just ahead of estimates for $10.07 per share. Apple also announced a 15 percent dividend hike and doubled the value of its capital return program to shareholders… (Read more.)
AT&T (NYSE:T) fell as much as 4 percent in pre-market trading after reporting first-quarter results after markets closed on Monday. Revenue declined 1.46 percent to $31.36 billion, missing estimates for $31.74 billion. Adjusted earnings increased 6.67 percent to $0.64 per share, in line with estimates… (Read more.)
Barclays (NYSE:BCS) fell as much as 1.2 percent in pre-market trading. The U.K. bank reported that earnings climbed 11 percent to 1.32 billion pounds ($2 billion), which beat estimates for earnings of 1.25 billion pounds. Notably, the bank booked a 514 million-pound charge for closing and restructuring banks in Europe and Asia.
Ford (NYSE:F) stock was up about 1.35 percent on Wednesday morning. America’s second-largest car maker reported that revenue increased 4.48 percent on the year to $33.9 billion, ahead of estimates for $33.74 billion. Adjusted earnings increased 5.13 percent to $0.41 per share, ahead of estimates for $0.38 per share… (Read more.)
Proctor & Gamble (NYSE:PG) was off as much as 3.25 percent in pre-market trading. The company reported a 2 percent increase in revenue to $20.6 billion, just below estimates for $20.74 billion. Adjusted earnings increased 5.32 percent to $0.99, just ahead of estimates for $0.96 per share… (Read more.)
Sprint (NYSE:S) was off fractionally after reporting earnings. Revenue climbed 0.68 percent to $8.79 billion, ahead of the average estimate of $8.71 billion. Adjusted earnings came in at a loss of $0.21 per share. Analysts were expecting a loss of $0.32 per share.