Microsoft said March quarter revenues increased 18% driven by strong performance in its enterprise, personal, and cloud computing segments.
MSFT
MSFT
UPS reported first-quarter 2022 revenues increased 6.4% and adjusted net income rose 10% from a year ago. Average Total domestic package volumes declined to 19.7 million from 20.4 million a year ago.
UPS
UPS
PepsiCo said first-quarter 2022 revenues rose 9.3% and reported better-than-expected earnings on strong performance in its food and beverage businesses. The company also lifted its annual outlook.
PEP
PEP
The Coca-Cola Company reported first quarter 2022 revenues increased 16% on unit case volume growth, improved business mix and price increase. Sparkling soft drinks grew 7% driven by increases in all geographies and hydration, sports, coffee and tea reported 10% increase in the quarter.
KO
KO
The S&P 500 and Nasdaq Composite indexes extended losses to the fourth week and April month sell-off as coronavirus cases spike in China. The new tough measures in China are likely to prolong supply chain disruptions as Shanghai enters the fourth week of lockdown. Bond yields and crude oil prices ease.
Danaher Corp said first quarter 2022 revenues rose 12% driven by a 4% increase in Covid-19 related testing revenues. Net income was flat. Diagnostic segment revenues in the quarter rose 21.5% followed by 9.5% growth in the Life Sciences segment.
DHR
DHR
Pool Corp said first quarter 2022 revenues surged 33% and net income soared 82% from a year ago. The pool supplies wholesale distributor said early inventory build up, prices hikes between 10% and 12%, and recent acquisitions funded with debt helped the latest quarterly results.
POOL
POOL
Newmont Corporation said first quarter revenues increased 5% on the back of higher average realized gold prices and higher copper sales volumes, which were partially offset by lower gold sales volumes. However, higher operating costs and weaker yield depressed quarterly earnings 20%.
NEM
NEM
The craft brewer reported a surprise decline in depletion and shipment rates and blamed the fall on the supply chain disruptions. The demand deceleration in hard seltzer products overwhelmed the comparable sales in its flagship Samuel Adams beer brand. The brewer said it plans to increase prices between 3% and 5% but GAAP based annual profits are not likely.
SAM
SAM
HCA Healthcare said first quarter revenues increased on more patients and higher revenues per patient but rising labor costs overshadowed quarterly results. The hospital operator also tightened and lowered the annual revenues and earnings per share estimate.
HCA
HCA
Benchmark indexes extended losses for the third week in a row as investors prepare for faster rate increase and adjust economic outlook. The ongoing war in Europe and China lockdown are intensifying market uncertainties, sustaining energy price inflation, and lengthening supply chain disruptions.
NUE FCX MSFT AAPL DDS
NUE FCX MSFT AAPL DDS
American Express first quarter 2022 revenues increased 29% largely on the increase in spending from card members. The financial services company said travel and entertainment spending by its members more than doubled and reached pre-pandemic level in March. The company reaffirmed its full-year revenue growth and earnings per share outlook.
AXP
AXP