Market Updates
Movers: American Express, Gap, Kimberly-Clark, Snap, Schlumberger, Verizon
Barry Adams
22 Apr, 2022
New York City
American Express was in focus after reporting better than expected $2.74 earnings per share after total revenues net of interest expense rose 29% from a year ago. Global spending volume in March reached a record high.
Kimberly-Clark soared 10% after the consumer products maker said quarterly organic sales growth was 10% and revised its annual organic sales estimate range to between 4% to 6% from 3% to 4%. The company also reaffirmed its annual earnings per share outlook between $5.60 and $6.00.
Snap Inc gained 4% after the social media platform reported quarterly revenues 38% to $1 billion and daily active users increased 18% to 332 million.
Schlumberger added 5% after the oil services provider said quarterly revenues increased 14% and net income soared 70% to $510 million and the company lifted its dividend by 40% to 17.5 cents.
Gap Inc plunged 11% after the fashion retailer revised its first quarter sales outlook to a decline in low to mid-teens from a year ago from the previous estimate of mid to high-single digit decline. The retailer also said Old Navy President and CEO Nancy Green will depart this week from the business.
Verizon Communications Inc declined 5% after the mobile telephony and broadband services provider said total revenues increased 2.1% to $33.5 billion and net income fell 12.1% to $4.7 billion.
Total wireless retail connections increased 22% from a year ago to 115.2 million and Fios internet connections increased 4.7% to 6.6 million.
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