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Earnings season is in full swing and the market mood is being determined by the quality of earnings announced by the companies. All the major indices today are trading in red zone and the trend is being followed by the main segments.A number of important companies have issued their earnings after the market closure yesterday. The numbers tell a mixed story, so let’s have a look at the hits and misses of the earning season today:
Comcast Corporation (NASDAQ:CMCSA): The company exceeded market expectations for its third quarter sales with $16.54 billion. Its revenue grew by 15 percent and beat the consensus estimate of $16.07 billion. The company’s net income increased to 78 cents per share or $2.11 billion. The company had earned 33 cents per share for the corresponding quarter of the last year. On the strength of its good results, the stock is currently trading at $37.26, up 2.48 percent from its previous close of $36.36. The stock is trading at the Price Earnings ratio of 21.27. It has traded in the range of $20.90 and $37.60 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $37.14 but below its 50 days moving average price of $37.27. However, the company also reported that it lost 117,000 subscribers during the quarter. Currently it has 22 million video subscribers.
Merck & Co. Inc. (NYSE:MRK): The company stock is currently trading at $46.20, down 0.22 percent from its previous close of $46.30. The stock had opened at $45.79 and has traded in the range of $45.79 and $46.76 in the current trading session. Merck stock commands the Price Earnings ratio of 21.11. The company beat analysts’ estimates for quarterly profits and posted 95 cents per share, in contrast to consensus estimate of 93 cents per share. It reported 2 percent increase in its net income to $1.73 billion. However, its revenue dropped 4 percent to $11.5 billion. The company also slashed its full year forecast for earnings excluding one-time items. The company expects to earn between the range of $3.78 and $3.82, down from its previous estimate of $3.75 and $3.85.
Newell Rubbermaid Inc. (NYSE:NWL): The company reported better than expected results but also announced layoffs. The company stock touched its 52 weeks on the strength of good results. Its net income for the third quarter stood at $108.3 million, up from a net loss of $177.6 million it had suffered a year earlier. On per share basis, its income stood at 37 cents per share. The company had suffered a loss of 61 cents per share for the corresponding quarter of the last year. However, the company’s revenue for the quarter stood at $1.54 billion, down by 0.9 percent. Newell Rubbermaid is currently trading at $20.94, up 4.23 percent from its previous close of $20.09. The stock is trading at the Price Earnings ratio of 66.20. It has traded in the range of $14.22 and $21.04 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $20.93 and 50 days moving average price of $20.7. The company scheduled to cut 2,000 jobs over the course of next 2 and a half year.
Procter & Gamble Co. (NYSE:PG): The stock is currently trading at $69.69, down 0.54 percent from its previous close of $70.07. The stock is trading at the Price Earnings ratio of 19.08. It has traded in the range of $59.07 and $70.83 in the past 52 weeks. However, the stock is trading below its 20 days moving average price of $69.96 and 50 days moving average price of $70.00. The company reported 7 percent decline in its first quarter net income. It also blamed restructuring costs for the decline in net income. Procter & Gamble also reported 4 percent decline in its revenue to $20.74 billion, falling below the consensus estimate of $20.79 billion. The company’s net income for the quarter stood at $2.81 billion, down from $3.02 billion it had earned in the corresponding quarter of the last year. On per share basis, its income per share fell from $1.03 to 96 cents. It also provided estimates for the second quarter. The company expects its adjusted core earnings to be in the range of $1.07 and $1.13. Its revenue is expected to be in the range of $21.88 billion and $22.32 billion during the second quarter.
