With investors’ attention being drawn toward the end of this trading week — including another possible U.S. government shutdown at the end of this week, hopes of U.S./China trade negotiations making some progress before the March 1 deadline, statements from Federal Reserve members and a Brexit vote on Thursday — we still have Q4 earnings reports to digest through this, the last of the earnings-heavy weeks from a wide variety of industries. Beginning next week we start hearing from retailers, who often have a quarter-end at January instead of December in order to account for holiday sales gains.
After today’s market close, we look forward to earnings reports from companies such as Vornado Realty VNO and Zacks Rank #1 (Strong Buy) Molina Healthcare MOH. Later in the week we hear from Under Armour UAA, Nvidia NVDA, Coke KO, Pepsi PEP and CBS CBS.
This morning, well-known conglomerate Loews Corp. (L came in woefully shy of expectations, based on higher quarterly costs and overall operating revenues which fell 4.7% year over year. Loews, the parent company of insurance company CNA Financial CNA and E&P staple Diamond Offshore Drilling DO, saw lower-than-expected results from both of these two components of its business.
Diamond Offshore missed expectations on the bottom line by 2 cents per share to a loss of 42 cents, on quarterly revenues of $232.5 million which tumbled 5.8% year over year. But it was CNA’s numbers that really hurt Loews in the quarter: -8 cents per share was reported when expectations were for 81 cents in profit. Core income was -22.7% off estimates, and -94% year over year. All 3 companies had Zacks Rank #4 (Sell) ratings ahead of the earnings reports.
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CBS Corporation (CBS) : Free Stock Analysis Report
Pepsico, Inc. (PEP) : Free Stock Analysis Report
CNA Financial Corporation (CNA) : Free Stock Analysis Report
Diamond Offshore Drilling, Inc. (DO) : Free Stock Analysis Report
Under Armour, Inc. (UAA) : Free Stock Analysis Report
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