Stocks to Watch: XOM, PEP, UPS & More
Take a look at some of Thursday’s morning movers:
Exxon Mobil - The oil giant earned $2 per share for its first quarter, missing estimates of $2.09. Exxon says the results reflect its ongoing investment in exploring for and developing new sources of energy.
Whirlpool - The appliance maker reported a first-quarter profit of $1.41 per share, excluding certain items, compared to estimates of $1.12. Whirlpool was able to offset weak demand in North America and Europe with price increases and cost cuts.
PepsiCo - The beverage and snack maker earned $0.69 per share for the first quarter, two cents above estimates, with revenues also above consensus. Pepsi was able to raise prices to make up for an increase in commodity costs.
United Parcel Service - The package delivery company earned $1 per share for the first quarter, two cents short of estimates, with revenues also coming up slightly shy. However, the company reiterated its prior 2012 guidance.
Tyco - Tyco reported a first-quarter profit of $0.86 per share, exceeding estimates of $0.79. Tyco was helped by a strong performance in its commercial fire and security business.
Time Warner Cable - The cable operator earned $1.30 per share, excluding certain items, for the first quarter, above estimates of $1.21. The company saw a boost in the number of high speed data subscriptions during the quarter, as well as more overall customers.
Moody's - The debt rating agency reported first-quarter profit of $0.76 per share, seven cents above estimates, with profits aided by an increase in the amount of debt sold by corporations during the quarter.
Lockheed Martin - The defense contractor earned $2.02 per share, excluding certain items, for the first quarter, above estimates of $1.70. It also announced that CEO Bob Stevens will step down at the end of this year.
Dow Chemical - Dow earned $0.61 per share for the first quarter, two cents above estimates. The company saw strong agricultural sales during the quarter, though it did see declining profits in specialty chemicals and materials.
Aetna - The insurance company came up short for its first quarter, earnings $1.34 per share versus estimates of $1.40. That comes as it paid out a higher percentage of its premiums to cover the cost of medical care for customers.
Watson Pharmaceuticals - The drugmaker has announced the acquisition of Actavis Group for $5.6 billion. However, talks between Watson and Actavis had been widely publicized ahead of the deal, so any movement may be limited.
Chevron - The oil company has raised its quarterly dividend by 11 percent, increasing it to 90 cents per share from the prior 81 cents. The increase is payable on June 11 to shareholders of record on May 18.
Las Vegas Sands - The company reported first-quarter profit of $0.70 per share, 10 cents above estimates, with revenues also beating forecasts. The casino operator benefited from continuing growth at its Asian properties.
Owens-Illinois - Owens beat estimates by four cents with its first quarter profit of $0.73 per share. Cost cuts helped boost the glass container maker’s bottom line.
Crocs - The footwear maker posted a 5 cent beat in its first-quarter earnings, reporting a profit of $0.31 per share. Its second-quarter forecast for both earnings per share and revenue is short of Street estimates.
Varian Medical - Varian did register a one cent beat by reporting fiscal second-quarter profit of $0.96 per share. But its shares are under pressure in pre-market trading after the medical-equipment and software maker projected annual profit of $3.76 to $3.84 per share, compared to analyst estimates of $3.96. It attributes that to costs associated with a new marketing partnership with Siemens Healthcare, as well as increased legal expenses.
H&R Block - Block estimates that it will report a fiscal-year profit of $1.09 to $1.15 per share, short of estimates of $1.39 per share. The tax preparer says it will eliminate about 350 jobs and close about 200 company-owned offices in a restructuring designed to save up to $100 million per year.
Xilinx - The chip maker reported fiscal fourth quarter profit of $0.49 per share, beating estimates of $0.40. It also issued a stronger than expected outlook, helping allay concerns prompted by two straight quarters of declining sales.
Akamai Technologies - Akamai says it will earn $0.36 to $0.38 per share for its second quarter, short of analyst estimates of $0.39. The Internet content delivery company is still in the process of absorbing recent acquisitions such as software maker Cotendo.
AstraZeneca - CEO David Brennan will leave the drug maker on June 1. This comes as investors become increasingly disgruntled about the company’s financial performance, which saw profits for the first quarter tumble 44 percent from a year earlier.
Raytheon - The defense contractor earned $1.33 per share for the first quarter, exceeding estimates of $1.16. It also raised its full year forecast, as it benefits from what it calls "operational improvements."
Starwood Hotels - The hotel operator earned $0.64 per share, excluding certain items, compared to Street estimates of $0.52. Strength in the company's Americas unit offset weakness in Europe during the quarter.
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