After the bell, Google parent Alphabet Inc. said revenue
continued to rise in the first quarter, gaining 13%, in a possible
sign that Big Tech could fare better than other sectors being
battered by the new coronavirus pandemic.
Earlier, BP PLC said its debt rose sharply and warned of falling
production and a worsening outlook for refining margins, in a sign
of what may be to come for other major oil producers.
Afternoon earnings, at a glance:
Boyd Gaming Corp.: The casino operator swung to a loss and
withdrew its financial projections for the year, citing business
uncertainty due to the pandemic.
Ford Motor Co.: The auto maker reported a first-quarter adjusted
loss before taxes of $632 million and said that the Covid-19
pandemic negatively impacted results in the first quarter by at
least $2 billion.
iRobot Corp.: The marker of Roomba reported a
narrower-than-expected loss, but cast doubt on future sales of its
pricey cleaning devices as the pandemic slams economies
worldwide.
Mondelez International Inc.: The maker of Oreo cookies reported
strong snack sales as shoppers in Europe and the U.S. stockpiled
food but demand was more muted in developing economies dealing with
lockdowns.
Starbucks Corp.: The coffee giant reported its first sales drop
in 11 years as a result of the coronavirus pandemic.
Earlier earnings reported Tuesday, at a glance:
3M Co.: The maker of coveted N95 face masks used by workers
treating coronavirus patients said sales grew in its medical
business while a deepening industrial downturn is weighing on its
business overall.
ABB Ltd.: The Swiss engineering company reported a fall in net
profit for the first quarter, and it warned that the pandemic will
continue to weigh on its results in the second quarter.
Aluminum Corp. of China: The Chinese company said its
first-quarter net profit plunged 93% as government efforts to curb
the coronavirus's spread slashed demand for its leading
products.
ANA Holdings Inc.: The airline said its full-year net profit
fell 75% as it canceled a significant number of international and
domestic flights due to the impact of the coronavirus pandemic.
Caterpillar Inc.: The U.S. maker of construction equipment
reported a smaller first-quarter profit as dealers slowed growth of
their construction-equipment inventory during the pandemic.
China Communications Construction Co.: The company said
first-quarter net profit fell 40% from a year earlier, as growth in
its principal business slowed due to the Covid-19 pandemic.
D.R. Horton Inc.: The U.S. home builder said profit and sales
rose in the latest quarter, but home orders were slowing and
cancellations were growing due to the pandemic.
Guangzhou Automobile Group Co.: The Chinese car maker's
first-quarter net profit plummeted 96% from a year earlier, as the
coronavirus pandemic dealt a severe blow to the company's sales in
the quarter.
Harley-Davidson Inc.: Demand for the company's motorcycles fell
off in the first quarter as the coronavirus spread, but
Harley-Davidson has restarted some manufacturing as governments
look to reopen economies.
IndusInd Bank Ltd.: The Indian lender's fourth-quarter net
profit fell 12% from a year earlier, weighed by provisions that
rose in part to the Covid-19 pandemic.
Inner Mongolia Yili Industrial Group Co.: The dairy-product
maker said first-quarter net profit slumped 50% from a year
earlier, as both sales and profitability took a hit from the
coronavirus pandemic.
LG Chem Ltd.: The South Korean company's first-quarter net
profit fell 83% as its petrochemical segment was hit by lower oil
prices and weaker demand in the wake of the Covid-19 pandemic.
Merck & Co. Inc.: Drugmaker reported a rise in sales and
profit in the first quarter, but lowered its revenue and earnings
forecast for the year due to the pandemic, with most of the
negative effects expected in the second quarter.
Novartis AG: Pharmaceutical giant saw medicine stockpiling boost
its sales and profit in the first quarter, offsetting disruption
from the virus.
PepsiCo Inc.: The beverage giant posted higher sales for the
first quarter of the year but withdrew its full-year guidance as it
faces uncertainty amid the coronavirus pandemic.
Pfizer Inc.: Drugmaker said its sales fell for the latest
quarter as it saw gains in its patent-protected medicines but had a
decline in its Upjohn unit, while the rate of new prescriptions and
vaccination slowed amid the coronavirus pandemic.
Polaris Inc.: The powersports company reported a loss for the
first quarter as demand dropped amid the coronavirus pandemic.
Sirius XM Holdings Inc.: The satellite-radio company's revenue
and earnings rose more than expected in its first quarter, but it
said the Covid-19 pandemic is expected to hurt subscriber
revenue.
Southwest Airlines Co.: The largest U.S. domestic carrier
expects the lack of demand for air travel to linger for some time,
as the pandemic continues to keep prospective fliers at home.
Southwest reported a $94 million loss for the first quarter -- its
first since 2011 -- and said revenue fell nearly 18% after bookings
began to drop off in late February.
UBS Group AG: The Swiss bank's profit rose sharply in the first
quarter as its focus on lending to the world's wealthy and Swiss
customers cushioned it from the blow felt by other global
lenders.
United Parcel Service Inc.: The delivery company said it expects
capital expenditures to be $1 billion less than previous estimates
and it is suspending stock buybacks for the year, citing
significant headwinds from the impact of the coronavirus pandemic.
Net income fell to $965 million, or $1.11 a share, for the first
quarter, while revenue rose 5.1%.
Waters Corp.: The maker of laboratory instruments and software
said its profit and sales for the first quarter fell, mostly due to
the coronavirus containment measures in China.
(END) Dow Jones Newswires
April 28, 2020 18:37 ET (22:37 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Bp (LSE:BP.)
Historical Stock Chart
From Apr 2024 to May 2024
Bp (LSE:BP.)
Historical Stock Chart
From May 2023 to May 2024