Mixed Earnings, Greece May Slip Markets - Analyst Blog
24 Enero 2012 - 2:55AM
Zacks
With nothing major on the domestic economic calendar, headlines
about Greece’s as-yet unsuccessful negotiations with its
bondholders to restructure its private debt may get some traction.
But today’s market action will be mostly about the slew of mixed
earnings reports from a "who’s who" of corporate America. We also
have President Obama’s State of the Union address later this
evening.
We have 5 Dow components reporting results this morning, of which
three came out with positive surprises, while two came up short.
Johnson & Johnson (JNJ) came out with a
positive EPS surprise on in-line revenue numbers.
McDonald’s (MCD) beat earnings expectations on
roughly in-line revenue numbers. DuPont (DD) came
out with a modest earnings surprise, though the chemicals giant’s
top-line came short of expectations.
The company had lowered expectations last month, citing
inventory destocking weighing on volumes. With the current Zacks
Consensus EPS estimate for 2012 of $4.23 close to the lower end of
the company’s guided range, this morning’s reiteration of that
guidance is a net positive, in my view.
The Dow components missing this morning were
Verizon (VZ) and Travelers (TRV).
Verizon’s miss by a penny reflected high expenses due to increased
iPhone sales, though the company’s subscriber additions during the
quarter came in at the high end of consensus expectations.
Travelers missed, but provided a positive outlook
for its business-insurance operation, its largest segment.
In other earnings reports this morning, Coach
(COH), the high-end handbag maker, came out with a positive
earnings and revenue surprise. Harley-Davidson
(HOG) also reported a modest EPS and revenue beat. We have
Apple (AAPL) and Yahoo (YHOO)
reporting after the close today.
The overall mixed picture emerging from this morning’s reports from
blue chip companies will likely give stocks a pause. The Greece
headlines just add to that negative sentiment.
APPLE INC (AAPL): Free Stock Analysis Report
COACH INC (COH): Free Stock Analysis Report
DU PONT (EI) DE (DD): Free Stock Analysis Report
HARLEY-DAVIDSON (HOG): Free Stock Analysis Report
JOHNSON & JOHNS (JNJ): Free Stock Analysis Report
MCDONALDS CORP (MCD): Free Stock Analysis Report
TRAVELERS COS (TRV): Free Stock Analysis Report
VERIZON COMM (VZ): Free Stock Analysis Report
YAHOO! INC (YHOO): Free Stock Analysis Report
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