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- Rand Paul: Crypto could become world’s reserve currency if government trust falls
- I’m 53. My wife is 54. Our $1.4 million retirement nest egg is 100% in equities and crypto. How do we plan retirement?
Boeing stock gains even after wider-than-expected loss, big revenue miss
Shares of Boeing Co. undefined gained 0.7% in premarket trading, even as the aerospace and defense company reported a big loss and revenue misses, amid weakness in the commercial airplanes and defense, space and security businesses, while free cash flow was a lot less negative than projected. The net loss narrowed to $132 million, or 19 cents a share, from $466 million, or 79 cents a share, in the year-ago period. Excluding nonrecurring items, the per-share loss of 60 cents was triple the FactSet loss consensus of 20 cents. Revenue rose 8.1% to $15.28 billion, well below the FactSet consensus of $16.37 billion. Among the business segments, commercial airplanes revenue rose 24% to $4.46 billion but missed the FactSet consensus of $5.76 billion and defense, space and security revenue fell 3% to $6.62 billion to miss expectations of $6.80 billion, while global services revenue rose 14% to $4.22 billion to beat expectations of $3.92 billion. Free cash flow improved to negative $507 million from $5.08 billion a year ago, and beat expectations of negative $1.13 billion. "We are driving stability across our operations, investing in our future and positioning our teams to deliver for our customers as the market recovers," said Chief Executive David Calhoun. "Commercial market demand continues to gain traction with broad-based vaccine distribution and border protocols beginning to open." The stock has shed 5.6% over the past three months through Tuesday, while the Dow Jones Industrial Average undefined has gained 2.0%.
Harley-Davidson shares jump 5.3% premarket after earning blow past estimates
Harley-Davidson Inc. shares undefined jumped 5.3% in premarket trade Wednesday, after the maker of iconic motorcycles blew past estimates for the third quarter. Milwaukee-based Harley said it had net income of $163 million, or $1.05 a share, in the quarter, up from $120 million, or 78 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.18, well ahead of the 77 cents FactSet consensus. Revenue rose 17% to $1.365 billion from $1.166 billion, also ahead of the $1.143 billion FactSet consensus. Motorcycle shipments rose to 47.9 million from $43.0 million a year ago. "Our teams continue to work to mitigate the impact of the ongoing supply chain challenges that our sector faces, however our performance underlines that we are on course to deliver our long-term Hardwire strategy," CEO Jochen Zeitz said in a statement. The company is still expecting full-year motorcycle revenue to grow 30% to 35%. Shares are down 3.4% in the year through Tuesday's close, while the S&P 500 undefined has gained 22%.
Coca-Cola stock surges after profit and revenue beats, raised outlook
Shares of Coca-Cola Co. undefined surged 3.0% in premarket trading Wednesday, after the beverage giant reported third-quarter profit and revenue that rose above expectations, with all geographic regions saw revenue and unit case volume growth, and raised its full-year earnings growth view. The company reported net income that rose to $2.47 billion, or 57 cents a share, from $1.74 billion, or 40 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came in at 65 cents, beating the FactSet consensus of 58 cents. Revenue grew 16.1% to $10.04 billion, above the FactSet consensus of $9.77 billion, including 8% growth in concentrate sales. Unit case volume rose 6%, amid improving performance in away-from-home channels. For 2021, the company raised its adjusted EPS growth guidance range to 15% to 17% from 13% to 15%, while the current FactSet EPS consensus of $2.26 implies 15.9% growth. The stock has declined 4.9% over teh past three months through Tuesday, while the Dow Jones Industrial Average undefined has gained 2.0%.
McDonald's profit and sales rise, beating expectations
McDonald's Corp. undefined shares rose nearly 3% in Wednesday premarket trading after the fast-food giant reported third-quarter earnings and sales that beat expectations. Net income totaled $2.150 billion, or $2.86 per share, up from $1.763 billion, or $2.35 per share, last year. Adjusted EPS of $2.76 was ahead of the FactSet consensus for $2.46. Sales of $6.201 billion were up from $5.418 billion last year and also ahead of the FactSet consensus of $6.050 billion. Global comparable sales rose 12.7% with the U.S. up 9.6%. The FactSet consensus was for a 10% rise. International operated markets, which includes the U.K. and France, was up 13.9% and international developmental licensed markets, which includes Japan and China, were up 16.7%. McDonald's stock has gained 10.2% for the year to date while the Dow Jones Industrial Average undefined has advanced 16.8% for the period.
What’s in — and not in — Democrats’ big social-spending bill, as billionaire tax hits resistance
- Opinion: Hoover Institution professor Biden says Biden ‘$0’ comment is ‘the most economically illiterate presidential utterance since Jimmy Carter’
- Democrats’ latest revenue-raising plan: 15% minimum tax on big companies’ income
- Proposed IRS bank-account reporting rule is revised, but Manchin still doesn’t like it
- What is a billionaires’ tax — and how would it work? Wyden’s new plan has answers.
- Mitt Romney says a billionaire tax will push the rich to buy paintings or ranches instead of stocks
- Elon Musk blasts prospective billionaire tax
Here’s what it will take to resolve the supply-chain disruptions roiling the U.S. economy
- Why it’s wrong to compare today’s inflation surge to 1970s-style ‘stagflation’
- Opinion: Market fears of inflation are the highest in over 20 years — what should retirees do?
- Opinion: Five things investors learned about the semiconductor sector from the latest batch of earnings
- Supply-chain disruptions cause some people to panic shop again — but they’re looking beyond toilet paper
Opinion: Apple’s ‘ad-mageddon’ is affecting Snap, Facebook, Google and Twitter differently
- Microsoft earnings top $20 billion in a quarter for first time, stock heads toward record high
- Google earnings top estimates as online ad sales remain resilient
- Twitter adds users, sees revenue rise as it avoids being bogged down by Apple change
- AMD CEO feeling ‘very, very good’ about data-center market as sales hit a record
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EIA reports a weekly climb in U.S. crude supplies, but stocks at a key delivery hub decline
The Energy Information Administration reported on Wednesday that U.S. crude inventories rose by 4.3 million barrels for the week ended Oct. 22. On average, analysts polled by S&P Global Platts expected a 100,000-barrel decline, but the American Petroleum Institute on Tuesday reported a 2.3 million-barrel climb, according to sources. The EIA also reported weekly inventory declines of 2 million barrels for gasoline and 400,000 barrels for distillates. The S&P Global Platts survey expected supplies to decrease by 2.7 million barrels for gasoline and 2 million barrels for distillates. The EIA data showed crude stocks at the Cushing, Okla., storage hub fell by 3.9 million barrels for the week. Oil prices continued to trade lower after the EIA data. December West Texas Intermediate crude contract fell 83 cents, or 1%, at $83.82 a barrel on the New York Mercantile Exchange, little changed from $83.81 before the supply data.
Cortexyme's stock tumbles on failed clinical trial for Alzheimer's drug
Shares of Cortexyme Inc. tumbled 72.7% in trading on Wednesday, the day after the company said a late-stage clinical trial evaluating its experimental Alzheimer's disease treatment failed to meet the study's endpoints. Cortexyme's stock is down 43.3% this year; the S&P 500 is up 21.8%.
