Markets
UPS

Q3 Earnings Mixed

The only expected economic data for today comes after the opening bell this morning: PMI Manufacturing and Services, both for the current month. We also look for New Home Sales figures for September after the bell this morning, with an expected dip from last month's read of 629K sales of new homes.

But as we enter the thick of earnings season, we focus here for our data - as well as our fortunes in the stock market:

Pre-market futures swung from negative to positive directly following Q3 earnings results from Boeing Corp.BA , which handily beat estimates by 3.77% to $3.58 per share. Revenues of $25.15 billion in the quarter represented a positive surprise of 6%. At this hour, Boeing is single-handedly keeping the Dow Jones in the green, with shares up 3.8% so far in the pre-market.

The aerospace major was already up nearly 19% year to date, well outperforming the S&P 500 over that time period. The Zacks Rank #3 (Hold) company (with Zacks Style Score of A) may be looking at upwardly revised estimates for full-year 2018, which would push up its Zacks Rank (stay tuned). The company has only missed earnings estimates twice since Q2 2016. For more on BA's earnings, click here.

On the flip side, AT&T T completed its Q3 with an earnings miss by 3 cents to 90 cents per share. This is well up from the year-ago 74 cents per share, and revenues narrowly eked out a beat to $45.74 billion. Though the quarter felt the pressure from AT&T's major acquisition of Time Warner for $85 billion in the quarter, this is also the company's third miss in its last five quarters. Shares are down 3.8% in the pre-market. For more on T's earnings, click here.

Even things out a bit, delivery and logistics giant United Parcel Service UPS met earnings estimates of $1.82 per share. Revenues of $17.44 billion in the quarter represent a "beat" of 0.2%; call this a meet across the board. UPS has only missed earnings estimates once since Q2 2014. In the pre-market, shares are trading down 4.2%, basically matching the -4.1% for the stock year to date. For more on UPS' earnings, click here.

Defense major Northrop Grumman NOC , on the other hand, blew away estimates on the bottom line: $6.54 per share walloped the $4.35 expected for a 50% beat. This is also an impressive earnings gain of 77.7% year over year. Revenues of $8.09 billion also outpaced estimates by a full percentage point. And pre-market traders are rewarding its strong Q3 results, pushing the Zacks Rank #2 (Buy) stock up 2.2% ahead of the bell. For more on NOC's earnings, click here.

And Boston ScientificBSX , a big player in the MedTech segment, released a mixed earnings report this morning, topping earnings estimates by a penny to 35 cents per share on sales of $2.39 billion which barely missed the Zacks consensus by 0.6%. Combine this with the company's imnpressive 45.3% gains year to date, and it's not hard to see why shares are down 2.86% at this hour of the pre-market. For more on BSX's earnings, click here.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

AT&T Inc. (T): Free Stock Analysis Report

Northrop Grumman Corporation (NOC): Free Stock Analysis Report

The Boeing Company (BA): Free Stock Analysis Report

Boston Scientific Corporation (BSX): Free Stock Analysis Report

United Parcel Service, Inc. (UPS): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

UPS BSX NOC BA T

Other Topics

Earnings Economy

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More