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It’s Groundhog Day, and Punxsutawney Phil has seen his shadow. This means six more weeks of winter.
Now that this scientific data is out of the way, we can turn our focus to Q4 earnings season. We can also take a look at GameStop ((GME - Free Report) , AMC Entertainment ((AMC - Free Report) and the silver commodity and recognize that it’s not “deja vu all over again” (to quote Yogi Berra); it is a return to valuation normalcy. One imagines stop-losses pinging every second or two as the rampage on hedge fund short-sellers abates.
Pfizer ((PFE - Free Report) , first to market with its Covid-19 vaccine (developed by BioNTech [(BNTX - Free Report) ]), wound up missing estimates on its bottom line this morning: 42 cents per share from 46 cents in the Zacks consensus. This is also down from the 55 cents per share in the year-ago quarter, and marks just the second negative earnings surprise in the past 16 quarters. Revenues, however, beat expectations by more than 6% to $11.68 billion in the quarter. Shares had been down year to date, but are up nearly 1% in early trading.
United Parcel Service ((UPS - Free Report) topped expectations on both sales and earnings ahead of today’s opening bell: $2.66 per share versus the $2.11 estimate marks a 26% positive surprise. Revenues of $24.90 billion outpaced consensus by 9.26%, and up notably from the $20.5 billion reported in the year-ago quarter. Shares had sold off 8% year to date, but are making up for lost time this morning, following the Q4 earnings release, up 5%.
After today’s close, we get new earnings reports from Amazon ((AMZN - Free Report) and Alphabet ((GOOGL - Free Report) , among others. Amazon, a Zacks Rank #3 (Hold) stock going into earnings, is expected to fetch $7.05 per share on a whopping $120.36 billion in quarterly revenues. Google-parent Alphabet looks for $15.91 per share on $44.09 billion in sales for the quarter, and the search engine leader carries a Zacks Ran k #2 (Buy) into this afternoon’s report.
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Markets Return to Normalcy
It’s Groundhog Day, and Punxsutawney Phil has seen his shadow. This means six more weeks of winter.
Now that this scientific data is out of the way, we can turn our focus to Q4 earnings season. We can also take a look at GameStop ((GME - Free Report) , AMC Entertainment ((AMC - Free Report) and the silver commodity and recognize that it’s not “deja vu all over again” (to quote Yogi Berra); it is a return to valuation normalcy. One imagines stop-losses pinging every second or two as the rampage on hedge fund short-sellers abates.
Pfizer ((PFE - Free Report) , first to market with its Covid-19 vaccine (developed by BioNTech [(BNTX - Free Report) ]), wound up missing estimates on its bottom line this morning: 42 cents per share from 46 cents in the Zacks consensus. This is also down from the 55 cents per share in the year-ago quarter, and marks just the second negative earnings surprise in the past 16 quarters. Revenues, however, beat expectations by more than 6% to $11.68 billion in the quarter. Shares had been down year to date, but are up nearly 1% in early trading.
United Parcel Service ((UPS - Free Report) topped expectations on both sales and earnings ahead of today’s opening bell: $2.66 per share versus the $2.11 estimate marks a 26% positive surprise. Revenues of $24.90 billion outpaced consensus by 9.26%, and up notably from the $20.5 billion reported in the year-ago quarter. Shares had sold off 8% year to date, but are making up for lost time this morning, following the Q4 earnings release, up 5%.
After today’s close, we get new earnings reports from Amazon ((AMZN - Free Report) and Alphabet ((GOOGL - Free Report) , among others. Amazon, a Zacks Rank #3 (Hold) stock going into earnings, is expected to fetch $7.05 per share on a whopping $120.36 billion in quarterly revenues. Google-parent Alphabet looks for $15.91 per share on $44.09 billion in sales for the quarter, and the search engine leader carries a Zacks Ran k #2 (Buy) into this afternoon’s report.