The Dow was flat Tuesday as major Blue Chips disappointed the street.
These 4 big stocks announced earnings. Based on results, should we fold ’em or hold ’em?
1) Johnson & Johnson’s (NYSE:JNJ): The stock traded down almost 2% on Tuesday, due to a 12% decrease in fourth quarter profits. The company earned $1.94 billion (70 cents per share). In the same period last year, the company earned $2.21 billion (79 cents per share). Revenue also decreased from $16.6 billion to $15.64 billion.
2) Verizon (NYSE:VZ): Net income for the fourth quarter was $2.64 billion (93 cents per share). Revenue decreased 2.6% to $26.4 billion. Traders didn’t let the revenue dip slow the stock, shares traded up 1.5%. The outlook continues to look bright for this Iphone blessed company. Verizon expects to sell up to 11 million Iphones this year.
3) DuPont (NYSE:DD): Fourth quarter earnings were well above analysts estimates. The company earned $376 million (40 cents per share), compared to estimates of only 32 cents per share. CEO Ellen Kullman said, “We continue to differentiate DuPont through sustainable growth, disciplined execution, and ongoing productivity coupled with science-powered innovation to address population megatrends around food, energy, and protection.”
4) 3M Company (NYSE:MMM): Shares traded down 2% on Tuesday. The company managed to increase sales by 9.6%, but profit fell to $928 million ($1.28 per share). The company is also seeing pressure on margins as costs rise. In an effort to protect margins, the company plans to decrease its discretionary spending.
Disclosure: No positions.
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