These 3 Stocks Are Making Dramatic Moves in the Market
These 3 companies reported earnings on Tuesday:
1) Las Vegas Sands (NYSE:LVS): Shares are getting cashed out to the tune of 10% in late trading. After the closing bell, the company reported Q1 earnings. EPS of 37 cents missed estimates by 7 cents, and revenue increased 58% from last year to $2.1 billion. Earnings were hurt from lower winnings on casino table games. Nevada is still struggling to recover from its vicious housing collapse. Las Vegas Sands owns and operates a variety of casinos around the world. It competes with other well-known companies such as MGM Resorts International (NYSE:MGM) and Wynn Resorts (NASDAQ:WYNN).
2) Great Plains Energy (NYSE:GXP): The electric company reported Q1 earnings after the bell. EPS of 1 cent disappointed estimates by 1 penny. Compared to last year, revenue declined 3% to $493 million. Earnings were brought down by 11 cents due to organizational realignment, impacts from KCP&L Missouri rate case, and increased transportation costs. CEO Mike Chesser also noted, ” Lower demand, especially among our residential customers, was a key factor for us in the quarter.” Shares are down 2.64% in late trading. Other higher dividend electrical plays include: Ameren Corp (NYSE:AEE), Exelon Corp (NYSE:EXC), and PPL Corp (NYSE:PPL).
3) CBS Corporation (NYSE:CBS): The television broadcaster beat estimates by 10 cents as it reported Q1 earnings after the close. EPS came in at 29 cents for the first quarter, beating estimates by 10 cents. Shares received a 5% pop on the news. The company also showed investors its strength and confidence by doubling its dividend. CBS isn’t planning on letting the internet media revolution pass it by. The company also signed a deal to allow the fire hot Netflix (NASDAQ:NFLX) stream its older television shows. CBS also reduced NCAA costs by sharing broadcasting time with Time Warner (NYSE:TWX). The company also competes with Disney (NYSE:DIS) and News Corp (NASDAQ:NWS).
Disclosure: No positions