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Stocks / Highlights

Dow 30 Earnings: United Technologies Fourth Quarter 2018

Erik M. Manning | 1/23/2019

United Technologies, (UTX) an industrial conglomerate that makes everything from jet engines to elevators, has announced fourth-quarter financials that topped expectations in terms of both revenues and earnings by a wide margin. The company also struck an upbeat tone with regard to its 2019 guidance. On the heels of these positive announcements, UTX stock was up by as much as 7% in early morning trading today.

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Stocks / Highlights
Dow-30 Earnings: Procter and Gamble Second Quarter Fiscal 2019

Orly Seidman | 1/23/2019

Consumer goods giant Procter and Gamble (PG) issued fiscal second-quarter (ended December 31st) results. Core earnings grew 5% year over year, to $1.25 a share, hitting our target on the nose. Net sales were flat, at $17.4 billion, and were also in line with our expectations. Investors seemed pleased with the earnings report, and the stock was up modestly in early morning trading.

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Markets / Commentaries
Stock Market Today: January 23, 2019

Harvey S. Katz, CFA | 1/23/2019

Looking out on the second day of this holiday shortened week, we see that stocks were mixed in Asia overnight, while in Europe, the bourses are trading with early losses, for the most part this morning. Also, oil prices and Treasury yields, both lower yesterday as Wall Street swooned, are now showing gains this morning. Finally, and ahead of a number of earnings reports and the latest data on oil inventories, U.S. equity futures are suggesting a higher open when trading resumes this morning, boosted by a good reception from International Business Machine's (IBM) latest results.

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Stocks / Highlights
Dow 30 Earnings: International Business Machines Fourth Quarter 2018

Ian Gendler | 1/22/2019

IBM shares were poised to move notably higher following the release of fourth-quarter financials.

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Stocks / Highlights
Dow 30 Earnings: Johnson and Johnson Fourth Quarter 2018

James Flood | 1/22/2019

Johnson and Johnson’s fourth-quarter financials were solid, but the stock did not react favorably.

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Stocks / Highlights
Dow 30 Earnings: Travelers Cos. Fourth Quarter 2018

Alan House | 1/22/2019

Property/Casualty insurance behemoth Travelers (TRV) missed our mark during the fourth quarter of last year. Looking at it with more granularity, the company earned $2.13 per share on an operating basis (excludes capital gains and losses from the investment portfolio), which compares unfavorably to our estimate of $3.34 and the year-before tally of $2.28. We believe the lion's share of the relative underperformance stemmed from an above average level of catastrophes, notably the California wildfires and Hurricane Michael. Indeed, catastrophe losses dialed in at $610 million during the December interim, representing an increase of 22.2% from the previous-year figure.

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Markets / Commentaries
Stock Market Today: January 22, 2019

Harvey S. Katz, CFA | 1/22/2019

The U.S. markets started lower today, as fears about a global slowdown increased. This was partially caused by the IMF cutting its 2019 global growth forecast. The indices trended downward throughout early trading, as existing home sales in December were far weaker than expected. The move lower continued throughout the afternoon, as a news story broke that the U.S. had cancelled a trade meeting with China. That increased fears about the possibility of a deal with that country. All told, the Dow finished the day lower by just about 302 points, while the S&P 500 was off by 38 points, and the NASDAQ fell 137 points.  

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Markets / Commentaries
Stock Market Today: January 18, 2019

Harvey S. Katz, CFA and Adam Rosner | 1/18/2019

The stock market moved sharply higher this morning and held most of its gains through the session. Today’s advance was likely fueled by hopes that trade relations between the U.S. and China are gradually improving. At the end of trading, the Dow Jones Industrial Average was ahead 336 points; the S&P 500 Index was up 35 points; and the NASDAQ was higher by 73 points. Market breadth was quite favorable, with advancers easily ahead of decliners on the NYSE.

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Stocks / Highlights
Dow 30 Earnings: American Express Fourth Quarter 2018

Ian Gendler | 1/18/2019

American Express, (AXP) a Dow-30 component and one of the world's largest issuers of credit/charge cards, has reported December-period financial results. For the quarter, the company achieved adjusted share earnings of $1.74, which excluded $0.58 of tax-related benefits. Although this figure was 9% higher than the year-earlier figure, it came in below the consensus Wall Street analyst estimate, as well as our call of $1.82.

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