The company guided higher annual sales and earnings per share to increase in the range of 6% to 9%. Higher commodities, freight costs and negative foreign exchange to have a negative impact of $3.2 billion.
PG
PG
U.S. stock index futures pointed to a higher opening as investors digested a flood of earnings from major companies. Crude oil traded flat and bond yields were on the defensive in the early trading. Netflix plunged 28% after the company reported quarterly net subscribers declined for the first time in a decade and guided higher losses in the current quarter. IBM earnings were ahead of expectations and P&G guided higher sales and passed on higher costs to consumers. Tesla and United Airlines are scheduled to release earnings after the market closes.
IBM NFLX PG LULU
IBM NFLX PG LULU
Revenue growth slows to 9.7%. Global streaming net paid membership lost 0.2 million and are estimated to lose 2 million more in Q2.
NFLX
NFLX
The S&P 500 index and Nasdaq Composite gained 1.5% and 2% respectively. The benchmark indexes opened higher and steadily climbed higher ahead of earnings from tech bellwethers. Crude oil price fell 5% and natural gas price dropped 8% fueling investor optimism. However, 10-year U.S. Treasury bond yield rose to 2.938%. Airlines stocks and tech stocks led the gainers.
IBM NFLX AAL GOOG XRX
IBM NFLX AAL GOOG XRX
Company reaffirmed 2022 full-year guidance for adjusted operational earnings per share and base business operational sales.
PFE
PFE
Returned $2.8 billion of cash to shareholders through share repurchases and dividends and reaffirms 2022 financial outlook.
LMT
LMT
U.S. indexes opened higher but investors remained focused on the latest earnings and war developments in Europe. Yield of 10-year U.S. Treasury bond advanced to 2.92%, a new 3-year high. Crude oil declined $4 a barrel as demand from China is expected to soften on rising Covid-19 cases. European markets fell more than 1% after Russia launched a new assault on cities in eastern Ukraine.
U.S. stocks lacked direction after 10-year Treasury bond yield inched up to 2.86%, crude oil added a dollar to $107.90 a barrel, and gold inched up 0.3%. Investors focused on a busy week of earnings ahead and are looking for clues how corporations are facing rising costs. Several leading companies including American Express, Travelers, J&J and Verizon are scheduled to release earnings. American Airlines, United Airlines, Alaska Air, CSX, and Union Pacific will provide deeper insights in freight and passenger travel costs.
JNJ IBM UNP AAL AXP
JNJ IBM UNP AAL AXP
The company returned $1.1 billion in capital to shareholders, including $967 million of share repurchases and $114 million of common stock dividends.
SYF
SYF
Core Net New Assets Total $120.5 Billion.
Total Client Assets Finish at $7.86 Trillion, up 11% Year-over-Year.
SCHW
SCHW