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Even though Q2 earnings season continues to heat up, it’s not our main story this morning. That would be the “Blue Death Screen” IT outage originated at CrowdStrikeCRWD this morning from an “operating defect” and has been affecting companies across the globe. This passed through Microsoft’sMSFT system, which has also been dealing with this massive software failure. Outages resulting in a “blue screen” — as in a throwback to early computer technology — have hit Asia, Australia, Europe and the Americas. The event is currently recognized as having been an accident, not an outright attack.
The good news here is companies are already on the rebound. Neither the Nasdaq nor the NYSE expects a delay to today’s opening bell, while major airlines AmericanAAL, UnitedUAL and DeltaDAL are coming back online, hopefully thwarting any major flight delays today. At this hour, Microsoft shares are down just -1.3%, but CrowdStrike is down -12.6%. This gives back a decent chunk of its more than +35% gains year to date.
American ExpressAXP Q2 results are out ahead of the open. Earnings of $3.49 per share outpaced the $3.22 in the Zacks consensus — and this subtracts additional 66 cents per share based on the company’s sale of Accertify, which was completed during the quarter. However, revenues of $16.33 billion came up short of the $16.57 billion expected. The company also raised earnings guidance for the full-year while keeping revenue projections intact. Shares are down -1.6% at this moment in the pre-market.
Dow component The Travelers CompaniesTRV also posted Q2 figures this morning. The insurance giant also posted a strong beat on its bottom line — earnings of $2.51 per share, for a +25.5% positive beat — but missed on the top, with revenues of $11.35 billion amounting to a -1.04% miss. This is only the second quarter in the past five where Travelers has beaten earnings estimates. Record net income of $534 million has helped bump the stock up +1.5% so far in early trading. For more on TRV’s earnings, click here.
SLBSLB put up modest beats on both top and bottom lines. Earnings of 85 cents per share notched ahead of the 83 cents analysts had expected, while revenues of $9.14 billion reached +0.82% higher than the Zacks consensus. The oilfield services leader (formerly known as Schlumberger) is seeing a slight uptick on the news, +1.6%, cutting into the -6% loss in the shares year to date. For more on SLB’s earnings, click here.
Finally, after today’s opening bell, we’ll see appearances made by New York Fed President John Williams and Atlanta Fed President Raphael Bostic at separate events. No doubt both will address the growing odds for an interest rate cut, most likely in September or later, not at its upcoming FOMC meeting July 30th and 31st. These will likely be the final public Fed statements ahead of its “blackout period” prior to the July meeting, which begins tomorrow.
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Teradyne benefits from strong demand for its testing solutions in automotive, HBM, DDR5, LPDDR5, flash and aerospace and defense businesses. Strong demand for UR20 bodes well for the Robotics business.
Shopify’s focus on developing merchant base, international expansion, addition of fulfillment network functionalities, rich partner ecosystem and mobile focus are key catalysts.
With accretive acquisitions and a well-stocked inventory of land, lots and homes in place, D.R. Horton is expected to perform well in fiscal 2024 and beyond.
The bullish momentum in Gaming and Video Collaboration businesses, along with the thriving cloud-based video conferencing services, will continue to be catalysts for the company’s growth.
Carlisle is set to benefit from strength in the CCM segment, accretive acquisitions and the Vision 2030 program. The company’s shareholder-friendly policies raise its attractiveness.
Persistently rising expenses are likely to hurt Bank of Hawaii’s bottom-line growth. Further, declining fee income limits top-line expansion. Also, geographic concentration is a major headwind.
Exposure to catastrophe loss inducing underwriting volatility and high debt level leading to higher interest expenses restricting margin expansion are some of the headwinds faced by the company.
The weakness in heavy equipment and rail cars may weigh on shipments. Lower steel prices and a high debt level are other concerns. The steel industry is also reeling under oversupply.
Net energy metering (NEM) 3.0 in California and increasing interest expenses pose a threat to the company's growth. The stock also holds a weak financial position.
Accelerated investments in a highly competitive streaming space, significant merger costs, foreign currency fluctuation risk and a leveraged balance sheet are major headwinds for WBD.
Headwinds like generic competition and pricing pressure continue. Though J&J has taken meaningful steps to resolve its talc and opioid litigation, uncertainty exists regarding the talc litigations
Failure to get approval on the Northern Pass project, stringent regulations, still-high interest rates and substandard performance from the third parties are headwinds.
American Eagle remains well-placed on the back of cost-reduction efforts, strength in Aerie and a solid online show. Also, its Real Power Real Growth value creation plan bodes well.
Strong air-travel demand promises growth. A good liquidity position gives operational flexibility while the resumption of dividend indicates cash flow stability and a shareholder-friendly stance.
The impressive Disney+ user growth rate driven by expanding international footprint and solid content portfolio should be the key performance driver for Disney.
Hormel Foods intends to strengthen its business on the back of strategic acquisitions. The company is investing in growth, innovation, cost savings and automation.
Broadcom is a leading player in the semiconductor market based on its expanding product portfolio, multiple target markets, accretive acquisitions and strong cash flow.
