Breaking News
Apr 26, 2023
-
Corning Inc was unchanged at $32.89 after the optical fiber maker reported first quarter sales decreased 7% to $3.14 billion.
The company swung to a net income of $176 million from a loss of $36 million and diluted earnings per share was 20 cents compared to a loss of 4 cents a year ago.
The company forecasted second-quarter sales, earnings per share, and cash flow to increase sequentially, with core sales in the range of $3.4 billion to $3.6 billion and core earnings per share in the range of $0.42 to $0.49. -
CoStar Group Inc rose 0.4% to $68.75 after the real estate information services provider reported higher revenue and bookings in the first quarter.
Revenue in the first quarter increased 13% to $584 million and net income declined to $87 million from $89 million and diluted earnings per share fell to 21 cents from 23 cents a year ago.
The company forecasted revenue in the range of $2.465 billion to $2.48 billion for the full year of 2023, an increase between 13% and 14% and revenue for the second quarter in the range of $603 million to $608 million, an increase of 13% from a year ago at the midpoint of the range.
The new outlook range for non-GAAP net income per diluted share is $1.21 to $1.24 based on 407 million shares, an increase of $0.15 per diluted share compared to the prior outlook.
For the second quarter of 2023, the company expects non-GAAP net income per diluted share in a range of $0.29 to $0.30 based on 407 million shares. -
McDonald's Corp decreased 0.5% to $290.24 after the fast food chain reported a surge in sales and earnings.
Sales in the first quarter rose 4% to $5.9 billion and net income soared 63% to $1.8 billion from $1.1 billion and diluted earnings per share increased to $2.45, including 18 cents of restructuring charges, from $1.48 a year ago.
Global comparable store sales increased 12.6% and systemwide sales increased 9% from a year ago. -
Chipotle Mexican Grill, Inc rose 7.6% to $1,915.0 after the fast food chain operator reported higher earnings driven by new stores and price increases.
Total revenue in the first quarter increased 17.2% to $2.4 billion and comparable restaurant sales advanced 10.9%.
Net income increased to $291.6 million from $158.3 million and diluted earnings per share rose to $10.50 from $5.59 a year ago.
The restaurant operator forecasted second quarter and full-year comparable store sales to increase in mid to high-single digit range and estimated between 255 and 285 new restaurants openings, including 10 to 15 relocations. -
Coca-Cola Company increased 0.5% to $64.35 after the beverage maker reported better-than-expected results in its latest quarter.
Revenue in the first quarter increased 5% to $11.0 billion and net income attributable to shareholders rose 12% to $3.1 billion from $2.8 billion and diluted earnings per share advanced 72 cents from 64 cents a year ago.
Revenue growth was driven by 11% increase in price and volume mix and 1% growth in concentrate sales.
Unit case volume was flat in North America but declined 3% in Europe, Middle East and Africa after prices rose 22% in local currencies. unit case volume surged 10% in Asia Pacific on the price increase of 5%.
Strong growth in unit case volume in Western Europe, Pakistan and South Africa was more than offset by the suspension of business in Russia and the impact of the earthquake in Türkiye in February.
The company reiterated its full-year 2023 revenue growth outlook between 7% and 8% and estimated commodities price inflation in mid single-digit on comparable cost of goods sold. -
First Republic Bank said revenue in the first quarter declined 13.4% from a year ago to $1.2 billion and net interest margin fell 19.4% to $923 million.
Net income in the quarter declined 32.9% to $269 million from $401 million and diluted earnings per share fell to $1.23 from $2.0 a year ago.
On the balance sheet front, loans increased 22.6% from a year ago to $173.3 million, total deposits 35.5% to $104.5 billion and borrowings soared by $101.2 billion to $106.7 billion.
At the end of March, excluding the $30 billion of deposits made by the large U.S. banks, the bank's estimated uninsured deposits totaled $19.8 billion, or 27% of total deposits.
Insured deposits fell moderately during the quarter and have "remained stable" from March 31 through April 21. -
PPG Industries increased 0.8% to $142.55 after the company lifted its full-year outlook.
Revenue increased 2% to $4.3 billion and net income soared to $264 million from $18 million and diluted earnings jumped to $1.11 from 8 cents a year ago.
The company guided flat sales in the second quarter and earnings per share between $1.92 and $2.02 and adjusted earnings per share in the full-year 20223 between $6.95 and $7.25, excluding amortization charges and non-cash pension settlement charges. -
CSX Corporation increased 2.8% to $31.69 after the railroad operator reported first quarter results.
Revenue increased 9% to $3.7 billion and net earnings rose 15% to $987 million from $859 million and diluted earnings per share rose to 48 cents from 39 cents a year ago. -
HCA Healthcare Inc increased 5.1% to $284.67 after the hospital operator reported quarterly results that exceeded expectations.
Revenue in the first quarter increased 3% to $15.6 billion from $14.95 billion and net income edged up to $1.54 billion from $1.46 billion and diluted earnings per share advanced to $4.85 from $4.14 a year ago.
The company lifted its full-year revenue range between $62.5 billion and $64.5 billion from the previous outlook to between $61.5 billion and $63.5 billion.
Net income range was revised higher to between $4.76 billion and $5.16 billion from $4.525 billion and $4.895 billion.
Earnings per share range was revised higher to between $17.25 and $18.55 from the previous outlook between $16.40 and $17.60. -
Procter & Gamble rose 3.7% to $156.50 after the consumer products maker reported better-than-expected quarterly results.
P&G said revenue in the fiscal third quarter ending in March increased 4% to $20.1 billion, driven by 10% increase in prices and 3% decline in volume.
Net income attributable to common stockholders increased 1% to $3.39 billion from $3.35 billion and diluted earnings per share rose to $1.37 from $1.33 a year ago.
The company revised its full-year sales guidance to increase 1% from the previous estimated range between decline of 1% and in-line.
Apr 24, 2023
Apr 21, 2023