US Markets

Q3 Morning Roundup: Boeing, Caterpillar & More

Wednesday, October 23, 2019


With the Dow now 2% below its record all-time high close, we get to the heart of Q3 earnings season. These earnings reports will be taking up the balance of pre-market news items, as we again see no new economic data ahead of today’s opening bell.


Yesterday after the market opened, we saw a read on Existing Home Sales. Results were down slightly from expectations, reaching 5.38 million units for September, and down from the 5.50 million reported for August. Analysts are not making too much out of one month’s data, but with interest rates so low, not seeing a pick-up in home sales may be an indication that the consumer’s appetite is not what it once was.


The Boeing Company BA posted a big miss on its bottom line this morning, bringing in just $1.45 per share — down from expectations for $2.04. Revenues, on the other hand, outperformed expectations by 3.3% to $19.980 billion in its Q3, though this is down from the $25.15 billion reported in the year-ago quarter.


Shares of the aircraft giant are up more than 2%, however, on guidance for its beleaguered 737 MAX: the company sees a return to service of the model in Q4 — following two fatal crashes that grounded the plane over the world — with a ramp-up of production coming in 2020. Whether this report is looking through rose-colored glasses or whether it represents a real turn-around in the future of the 737 MAX is too early to say at this juncture. For more on BA’s earnings, click here.


Zacks Rank #4 (Sell)-rated Caterpillar CAT also came up light of expectations in its Q3, with earnings of $2.66 per share well beneath the anticipated $2.82, with revenues of $12.758 billion missing the Zacks consensus by 4.67%. Citing global economic uncertainty, the large equipment manufacturer has also cut guidance for its Q4 and full-year expectations. Shares are down 1.12% in early trading this morning. For more on CAT’s earnings, click here.


Healthcare insurance major Anthem ANTM, on the other hand, has surpassed expectations in its Q3 earnings report, with $4.87 per share beating estimates by 3 cents on $26.44 billion in revenues that outperformed consensus by 4%. These also mark significant improvements from the year-ago quarter’s $3.81 per share and $22.98 billion, respectively. However, shares are selling off 2.4% in the pre-market today. For more on ANTM’s earnings, click here.


Mark Vickery

Senior Editor


Questions or comments about this article and/or its author? Click here>>

7 Best Stocks for the Next 30 Days

Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”

Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.50% per year. So be sure to give these hand-picked 7 your immediate attention.

See them now >>

Click to get this free report

The Boeing Company (BA): Free Stock Analysis Report

Caterpillar Inc. (CAT): Free Stock Analysis Report

Anthem, Inc. (ANTM): Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

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

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

Other Topics

Markets Stocks

Latest Markets Videos