For Immediate Release
Chicago, IL – April 24, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Intel Corp. INTC and Edwards Lifesciences EW.
Here are highlights from Thursday’s Analyst Blog:
Intel, Edwards Outperform Q1 Earnings Estimates
Intel Corp., a Zacks Rank #3 (Hold)-rated company prior to its Q1 earnings report after Thursday’s closing bell, easily outpaced estimates on both top and bottom lines. Earnings of $1.45 per share was well ahead of both the $1.28 expected and the 89 cents per share reported in the year-ago quarter. Revenues in the quarter reached $19.83 billion, higher than the $18.75 billion in the Zacks consensus.
PC-related businesses brought in $9.8 billion in Q1, higher than the $9.3 billion analysts were looking for. Intel’s Data Center finished the quarter with $7 billion in sales, ahead of the $6.3 billion estimate. The company has clearly shown its strength as a “work from home” stock, which has justified its 19% stock gain in the past month. Intel has not missed a quarterly earnings estimate since Q4 2013.
That said, we appear to be seeing a “sell the news” scenario with regard to Intel stock, as shares are down 5% upon the earnings release. The company also suspended guidance for its full-year earnings and revenues, while the company guided slightly lower for Q2 2020. For more on INTC’s earnings, click here.
Edwards Lifesciences, another Zacks Rank #3 stock, also outperformed expectations after regular trading ended, with $1.51 per share rocketing past the $1.29 expected and +14% year over year. Sales of $1.1 billion surpassed the $1.05 billion analysts were anticipating. Revenues guidance for next quarter provided a range of $700-900 million, where the Zacks consensus estimate of $821.72 million rests easily.
Full-year guidance, however, was lowered from the previous $4.6-5.0 billion to an updated $4.0-4.5 billion. For more on EW’s earnings, click here.
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Intel Corporation (INTC) : Free Stock Analysis Report
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