On today's episode of Free Lunch, Ryan McQueeney recaps the morning's top pre-market earnings reports from Goldman Sachs, Morgan Stanley, and Johnson & Johnson. Later, he is joined by Zacks Strategist Dave Bartosiak to discuss upcoming reports from Netflix and IBM.
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U.S. stocks were rebounding in morning trading Tuesday as positive earnings results had investors eager to buy. Notably, shares of Goldman Sachs GS , Morgan Stanley MS , and Johnson & Johnson JNJ were higher after each company posted better-than-expected data prior to the opening bell.
Goldman Sachs managed to notch earnings of $6.28 per share and revenue of $8.7 billion. This top-line result surpassed the Zacks Consensus Estimate of $8.4 billion, while the bottom-line figure was about 90 cents per share better than analysts were expecting.
Investment rival Morgan Stanley posted earnings of $1.17 per share, beating the Zacks Consensus Estimate by 17 cents and improving nearly 26% from the year-ago period. Revenues of $9.9 billion were also above estimates and up from the $9.2 billion seen last year.
Over in the pharma industry, Johnson & Johnson witnessed earnings of $2.05 per share, beating consensus estimates by two cents. Revenue for the quarter came in at nearly $20.4 billion, topping estimates by about 2%.
On the first half of today's show, Ryan covers all of these key reports. Make sure to check out the segment for all the facts you need to know!
Later, Ryan is joined by Zacks Strategist-and momentum and earnings guru-Dave Bartosiak. Ryan and Dave preview the rest of Q3 earnings season and discuss what to look for in this afternoon report's from Netflix NFLX and IBM IBM .
Dave also fields a question from the audience about Twilio TWLO and its business model, including a major acquisition the company announced this morning. Other questions from the audience include inquiries on Newpark Resources NR and how to make an options play on Netflix ahead of earnings.
Make sure to check out today's episode for all of this commentary, and more!
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