Media Room
1
All posts from Media Room
Media Room in Media Room,

Opening Bell 4/29

Good morning! Year to date Tuesday’s have been a great day for bulls, returning almost 9% and posting positive numbers at the close 85% of the time.  The DOW, S&P 500, NASDAQ and Russell 2000 all point up in premarket trading.  

Companies that reported earnings yesterday are making most of the noise.  Coach (COH), the luxury retailer earned 68 cents per share, seven cents above estimates.  Sales were roughly in line even though Coach said they saw weakness in its women's bag and accessories business.  

The pharmaceutical giant, Merck (MRK), reported better-than-expected quarterly earnings of 88 cents per share, helped by sharply lower research spending and asset sales. Revenue came in slightly below expectations.

Herbalife Ltd. (HLF) reported first quarter profit of $1.50 per share, 20 cents above estimates.  Herbalife raised its earnings guidance for the year after its adjusted first-quarter net income beat Wall Street's estimate.  HLF terminated its dividend but will use that money to buy back more stock.

Cummins Inc. (CMI), the engine manufacturer, earned $1.83 per share for the first quarter, 16 cents above expectations.  CMI also raised their full-year forecast due to strong demand for its engines and vehicle components in North America.

Cirrus Logic (CRUS) is buying British company Wolfson Microelectronics for $467 million in cash.  Wolfson is a maker of microchips that specializes in audio technology.  Cirrus is highly dependent on Apple so this deal helps the company diversify away from them.

After the bell today we get earnings from AFLAC Inc. (AFL), eBay (EBAY), Twitter (TWTR), Marriott International (MAR), Genworth Financial (GNW), Seagate Technology (STX) among others.