CVS Health, Aetna see government gain; Sprint's upbeat report; Coach beats
Here are some of the stocks the Yahoo Finance team will be watching for you today as earnings season rolls on.
CVS Health (CVS) The drug store chain and pharmacy benefits provider reports second quarter profit that beat analysts' forecasts...while revenue was pretty much in line. CVS says it got a big boost from its pharmacy service unit thanks to an increase in new clients as well as more Medicare and Medicaid claims.
Aetna (AET) The health insurance provider that's buying rival Humana (HUM) easily beat estimates on the bottom line in the quarter..but missed on the top line. (VO) Like CVS, Aetna says it had a big rise in Medicare and Medicaid payments...however, its commercial business lagged. The company is also raising its full year earnings forecast.
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Avis Budget Group (CAR) The car rental company handily topped estimates for second quarter earnings...but revenue came up short. Avis Budget blames low prices and the strong dollar, which cut international revenue by 5% from the same period last year. The company is also lowering is full year outlook. Meantime, rival Hertz (HTZ) is apparently getting out of the rent-by-the-hour business. The New York Post reports the effort to compete with Zipcar fell flat because of lack of demand.
Sprint (S) The struggling wireless carrier is out with an upbeat financial report, saying it has significantly reduced the number of key customers who dropped the service during the period. Sprint says it added 675,000 net users in the period...and is raising its full year earnings outlook. It also announced a big management shakeup ahead of today's quarterly release.
Coach (COH) The luxury handbag maker beat estimates on both profit and revenue in its fiscal fourth quarter. However, Coach says net sales dropped 13%...and sales in North America sunk 20%.
American International Group (AIG) The big insurance company is more than doubling its dividend to 28 cents a share and will spend an additional $5 billion to buy back shares. AIG says the moves reflect the firm's positive long-term outlook. AIG is also reporting quarterly profit that beat estimates
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