Three Earnings Reports

This is a busy day for earnings reports. We had three before the open and a fourth is due after the bell.

First off, Snap-on (SNA) reported Q1 earnings of $2.16 per share. That topped Wall Street’s estimate by nine cents per share, but sales came in below expectations. I’m still targeting $9 in EPS for this year. The shares are down a bit today, but not too much.

Biogen (BIIB) is our big winner today. The biotech firm reported Q1 earnings of $4.79 per share, which beat expectations by 32 cents. Revenues rose 6.7% to $2.73 billion which was just below expectations. The shares are up about 4% today.

Alliance Data Systems (ADS) is again our problem child. For Q1, the company earned $3.84 per share which beat Wall Street’s estimate by two cents per share. The company had given guidance of $3.83 per share.

The problem was guidance. For Q2, ADS sees earnings of $3.58 per share which is 20 cents below Wall Street’s forecast. Traders didn’t like that at all. The shares have been down as much as 9% today. But the company said they’re on track to earn $16.75 per share for this year.

Microsoft’s (MSFT) earnings are due after the close. Wall Street is expecting earnings of 64 cents per share.

Posted by on April 21st, 2016 at 1:38 pm


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