Will These 3 Earnings Power the Dow to 13,000?
These 3 companies reported earnings on Tuesday:
1) Ford (NYSE:F): The bailout-free American automaker reported Q1 earnings before the opening bell. EPS of 62 cents beat estimates by 12 cents. Revenue increased 17% from last year to $33.1 billion. The results included Ford’s best Q1 profit since 1998. The company also reduced its debt by $2.5 billion. Competitors include General Motors (NYSE:GM) and Toyota (NYSE:TM).
2) Amazon (NASDAQ:AMZN): The company operates as an online retailer across America and the globe. After the closing bell, the company reported Q1 earnings. EPS of 44 cents fell well short of estimates (16 cents to be exact). Revenue increased 38% year-over-year to $9.86 billion. The decline in net income was contributed to a rise in spending to expand operations and its cloud computing capabilities. The company also said that it has no intentions of slowing spending, as it will position Amazon for long term growth. Shares are down nearly 1% in late trading. Other rival retailers include Ebay (NASDAQ:EBAY) and Barnes & Noble (NYSE:BKS).
3) Coca-Cola (NYSE:KO): This long time Buffett favorite reported Q1 earnings before the opening bell. EPS of 86 cents missed estimates by 1 penny. Revenue increased nearly 40% year-over-year to $10.51 billion. The company said net income increased 18% due to higher global sales of its soda and juices. Shares are up half a percent in late trading. Other beverage companies include Hansen Natural Corp (NASDAQ:HANS), Pepsi (NYSE:PEP), Cott Corp (NYSE:COT), and Starbucks (NASDAQ:SBUX).
Disclosure: No positions