Netflix’s Posts a Strong Quarter, United Technologies Is Mixed, and 3 More Hot Stocks
Netflix, Inc. (NASDAQ:NFLX): Shares are cooling after an impressive stock surge in the wake of Netflix’s earnings on Monday night. The U.S. streaming margin was 23.7 percent, up 120 bps over the last quarter and up 450 bps over last year. The unit had a contribution profit of $166 million. EPS of 52 cents beat by 3 cents as revenue of $1.1 billion fell in-line. Netflix added 1.29 million subscribers domestically during the third quarter, compared to the 630,000 that it logged for the second quarter. Total U.S. subscribers at the end of the quarter was 31.09 million, against the 30 million expected.
United Technologies Corp. (NYSE:UTX): United Tech shares are slumping somewhat as the company reports EPS of $1.63, beating by 9 cents, and revenue of $15.5 billion, which missed by $0.68 billion. Net profit rose to $1.43 billion from $1.42 billion last year. Earnings include 8 cents per share of restructuring expenses. United is guiding for sales of $63 billion against the previous guidance of $64 billion, due to the “weakness in military aerospace markets and the slow pace of recovery in Europe.”
Whirlpool Corp. (NYSE:WHR): Whirlpool is reporting that sales rose over 5 percent (excluding currency swings), spurred on by a strong performance in North America, during the third quarter that saw EPS of $2.72 beat by 7 cents, and $4.68 billion in revenues that missed projections by $0.06 billion. Profits saw healthy gains year-over-year, attributed to cost productivity and capacity reduction measures, helping to more than offset higher expenses. Whirlpool raises its full-year EPS guidance to $9.90 to $10.10, up from a prior outlook of $9.50 to $10.00.
Freeport-McMoRan (NYSE:FCX): Freeport shares are up as the company divulges EPS of 79 cents, and revenue of $6.16 billion, beating by $0.48 billion. Consolidated copper sales of 1.04 billion pounds beat out the year-ago sales of 922 million pounds, though it fell short of Freeport’s July estimate of 1.06 billion due to lower than expected volumes in South America. The company increased its full year 2013 operating cash flow guidance to about $6 billion, up from the prior guidance of roughly $5.8 billion.
YUM! Brands, Inc (NYSE:YUM): Yum has announced intentions for a $10 billion investment to help expand in emerging markets, and get itself off what it calls the “ground floor” of a global growth track. Yum hopes to have 20,000 new restaurant locations within emerging markets by 2020. Continued expansion in India will be a primary focus.