Stocks That Reacted Positively To Earnings

Stocks That Reacted Positively To Earnings

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American Express (+1.7%), the US issuer of credit cards, announced for its first fiscal quarter a profit down 5% year-over-year, at $1.55 billion and $1.80 per share, against $1.63 billion and $1.86 per share a year ago. Revenues excluding interest expense rose 7% to $10.4 billion. Excluding non-recurring items this time, adjusted earnings per share were $2.01 per share versus $1.86 a year earlier, while the consensus was $1.99. Revenues, on the other hand, fell slightly below market expectations, as the consensus was closer to $10.5 billion.

The group has maintained its 2019 earnings per share estimates ranging from $7.85 to $8.35, with revenue growth still expected to be between 8% and 10%.

Blackstone (+7.5%). The New York-based investment giant posted net earnings of $481 million and 71 cents per share in the first quarter, as well as adjusted earnings per share of 44 cents. The group’s revenues exceeded $2 billion. The group has also decided to adopt a ‘corporate’ status, abandoning that of ‘partnership’. The asset manager intends to attract new investors, which seems rather successful in the immediate future, if we rely on the stock market trend of the day. The change will take effect in July.

Manpower Group (+11.6%). For the first quarter, the group made a profit of $54 million and 88 cents per share, as well as an adjusted EPS of $1.39 compared to a consensus of $1.35. Revenues totaled 5.04 billion dollars, against a consensus of 4.92 billion. As a result, earnings are virtually halved compared to last year, while revenues are down 9% year-over-year.

Textron also made gains after releasing its financial results. The company announced for the first quarter a profit of $179 million and 76 cents per share, against a consensus of 70 cents. The designer of Cessna aircraft and Bell helicopters earned $3.1 billion, against $3.2 billion in consensus. The annual EPS is anticipated between $3.55 and $3.75.

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I cover technology, utilities and biotechnology for Markets Morning, and I help out occasionally with other industry sectors. I've written about investment and personal finance topics for more than 20 years from a lowly copywriter to editor-in-chief, so I've done a little bit of everything. For what it's worth, I have a BA from Duke University and an MBA from Rollins College. I'm married with one daughter, and that's worth more than everything else put together.

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