We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
This week, we expect loads of economic data to come out, from Personal Incomes and Consumer Spending tomorrow, ADP’s private sector employment read and ISM Manufacturing survey results Wednesday, Weekly Jobless Claims data on Thursday, and an all-new non-farm payroll report from the Bureau of Labor Statistics (BLS) Friday, complete with a new headline number for U.S. unemployment. Until then, however, new Q2 earnings results — from now the busiest week of the quarter for earnings — will have to suffice.
Even the biggest of those numbers will have to wait a bit: Apple (AAPL - Free Report) reports quarterly earnings after the closing bell Tuesday and Tesla (TSLA - Free Report) reports Wednesday after market close. Thursday afternoon we get new results from CBS Corp. , which just this morning is being roiled in controversy regarding its long-time CEO Les Moonves, who is stepping down after being accused of improper sexual behavior.
Zacks Rank #2 (Buy)-rated Caterpillar (CAT - Free Report) posted record-high Q2 revenues on its way to its 14th straight earnings beat. Earnings of $2.82 per share easily outpaced the $2.66 per share in the Zacks consensus and up 89% year over year. Those record-high revenues reached $14.01 billion in Q2, higher than the $13.77 billion analysts had been expecting.
Even better for Caterpillar? The company raised full-year guidance to a range of $11-12 per share. The Zacks consensus prior to the company’s earnings release was for earnings of $10.75 per share, itself nearly a 60% jump year over year. For more on CAT’s earnings, click here.
Real estate investment trust (REIT) Simon Property Group (SPG - Free Report) , a developer and manager of shopping malls, reported funds from operations (FFO — an important metric for REITs, which most closely aligns with what non-REITs call “earnings”) of $2.98 per share, 7 cents higher than anticipated. Sales in the quarter slightly nudged ahead of revenue estimates and year-over-year actuals, to $1.39 billion in the quarter. For more on SPG’s quarterly report, click here.
However, diversified conglomerate Lowes Corp. (L - Free Report) missed earnings for the first time in nine quarters, reporting a penny light of expectations to 72 cents per share. Its Diamond Offshore Drilling component posted a greater-than-expected loss to -50 cents per share in the quarter, while CNA Insurance (CNA - Free Report) topped estimates by 3 cents to 99 cents per share. For more on L’s earnings, click here.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Splendid Earnings All Around
This week, we expect loads of economic data to come out, from Personal Incomes and Consumer Spending tomorrow, ADP’s private sector employment read and ISM Manufacturing survey results Wednesday, Weekly Jobless Claims data on Thursday, and an all-new non-farm payroll report from the Bureau of Labor Statistics (BLS) Friday, complete with a new headline number for U.S. unemployment. Until then, however, new Q2 earnings results — from now the busiest week of the quarter for earnings — will have to suffice.
Even the biggest of those numbers will have to wait a bit: Apple (AAPL - Free Report) reports quarterly earnings after the closing bell Tuesday and Tesla (TSLA - Free Report) reports Wednesday after market close. Thursday afternoon we get new results from CBS Corp. , which just this morning is being roiled in controversy regarding its long-time CEO Les Moonves, who is stepping down after being accused of improper sexual behavior.
Zacks Rank #2 (Buy)-rated Caterpillar (CAT - Free Report) posted record-high Q2 revenues on its way to its 14th straight earnings beat. Earnings of $2.82 per share easily outpaced the $2.66 per share in the Zacks consensus and up 89% year over year. Those record-high revenues reached $14.01 billion in Q2, higher than the $13.77 billion analysts had been expecting.
Even better for Caterpillar? The company raised full-year guidance to a range of $11-12 per share. The Zacks consensus prior to the company’s earnings release was for earnings of $10.75 per share, itself nearly a 60% jump year over year. For more on CAT’s earnings, click here.
Real estate investment trust (REIT) Simon Property Group (SPG - Free Report) , a developer and manager of shopping malls, reported funds from operations (FFO — an important metric for REITs, which most closely aligns with what non-REITs call “earnings”) of $2.98 per share, 7 cents higher than anticipated. Sales in the quarter slightly nudged ahead of revenue estimates and year-over-year actuals, to $1.39 billion in the quarter. For more on SPG’s quarterly report, click here.
However, diversified conglomerate Lowes Corp. (L - Free Report) missed earnings for the first time in nine quarters, reporting a penny light of expectations to 72 cents per share. Its Diamond Offshore Drilling component posted a greater-than-expected loss to -50 cents per share in the quarter, while CNA Insurance (CNA - Free Report) topped estimates by 3 cents to 99 cents per share. For more on L’s earnings, click here.