Europe’s largest bank, HSBC, misses expectations in 2018 earnings

HSBC, Europe’s largest bank, on Tuesday delivered a financial report card that missed expectations on several fronts following a challenging fourth-quarter when markets globally experienced a sharp sell-off and reduced activity. The bank’s reported pre-tax profit for the whole of 2018 was $19.89 billion, 15.9 percent higher than the previous year. Reported revenue last year was $53.78 billion, 4.5 percent higher than 2017. The lower-than-expected revenue growth also resulted in HSBC missing its


HSBC, Europe’s largest bank, on Tuesday delivered a financial report card that missed expectations on several fronts following a challenging fourth-quarter when markets globally experienced a sharp sell-off and reduced activity. The bank’s reported pre-tax profit for the whole of 2018 was $19.89 billion, 15.9 percent higher than the previous year. Reported revenue last year was $53.78 billion, 4.5 percent higher than 2017. The lower-than-expected revenue growth also resulted in HSBC missing its
Europe’s largest bank, HSBC, misses expectations in 2018 earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: yen nee lee, matt cardy, getty images
Keywords: news, cnbc, companies, largest, ratio, expectations, 2018, jaws, reported, europes, misses, share, revenue, bank, higher, earnings, hsbc, billion, positive


Europe's largest bank, HSBC, misses expectations in 2018 earnings

HSBC, Europe’s largest bank, on Tuesday delivered a financial report card that missed expectations on several fronts following a challenging fourth-quarter when markets globally experienced a sharp sell-off and reduced activity.

The bank’s reported pre-tax profit for the whole of 2018 was $19.89 billion, 15.9 percent higher than the previous year. Reported revenue last year was $53.78 billion, 4.5 percent higher than 2017.

The London-headquartered bank was expected to record a 23.8 percent jump in reported pre-tax profit to $21.26 billion for 2018, according to forecasts compiled by Refinitiv. Revenue for the year was projected to be 6.28 percent higher at $54.674 billion, data by Refinitiv showed.

HSBC said it will pay a full-year dividend of $0.51 per share, but did not announce a new share buy-back plan as some analysts had hoped.

The bank’s Hong Kong-listed shares fell by around 2 percent after the lunch break.

Other financial metrics that analysts and investors were watching:

Net interest margin, a measure of lending profitability, was 1.66 percent as of Dec. 31, 2018. That’s higher than the 1.63 percent seen a year ago.

Earnings per share for 2018 was $0.63, higher than $0.48 a year ago.

Common equity tier 1 ratio — a proportion of the bank’s core capital to assets — as at Dec. 31 last year was 14 percent, compared to 14.5 percent at end-2017.

Despite missing forecasts, HSBC Group Chief Financial Officer Ewen Stevenson said he was “very pleased” with the latest set of results. He added that the difficult trading environment at the end of 2018 resulted in lower fourth-quarter revenue compared to the previous three months.

Stevenson was referring to the sharp sell-off in global marketsin the fourth-quarter last year, which led to trading revenue losses in many banking groups.

“We were very much hit by adverse markets in November and December, which meant that we saw revenue drop by about a billion dollars relative to [the third-quarter],” Stevenson told CNBC’s Joumanna Bercetche on Tuesday.

The lower-than-expected revenue growth also resulted in HSBC missing its positive “jaws” target for 2018. The jaws ratio is positive when revenue grows faster than costs. HSBC’s jaws for the year was minus 1.2 percent.

“We were very disappointed to have missed that jaws target for the year,” the CFO said, adding that the bank will continue to work toward achieving a positive jaws ratio in 2019.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: yen nee lee, matt cardy, getty images
Keywords: news, cnbc, companies, largest, ratio, expectations, 2018, jaws, reported, europes, misses, share, revenue, bank, higher, earnings, hsbc, billion, positive


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Global miner BHP Group first-half profit falls 8% as copper earnings slump

The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally. Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Macken


The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally. Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Macken
Global miner BHP Group first-half profit falls 8% as copper earnings slump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: cnbccom with reuters, peter hendrie, photographers choice, getty images
Keywords: news, cnbc, companies, number, miner, slump, firsthalf, mackenzie, copper, line, group, bhp, profit, earnings, billion, global, fell, falls, tax


Global miner BHP Group first-half profit falls 8% as copper earnings slump

The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally.

Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. That missed consensus estimates compiled by Vuma Financial of $4.209 billion.

“Profit is often the most difficult thing for people to forecast. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Mackenzie, CEO of BHP Group, told CNBC’s Karen Tso on Tuesday.

“I would say, apart from earnings, this in line or slightly better in line than what peopled forecasted,” Mackenzie said.

Underlying profit is watched by analysts and investors as a measure of the company’s performance exclusive of one-time gains and losses.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: cnbccom with reuters, peter hendrie, photographers choice, getty images
Keywords: news, cnbc, companies, number, miner, slump, firsthalf, mackenzie, copper, line, group, bhp, profit, earnings, billion, global, fell, falls, tax


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PepsiCo earnings in line with estimates but forecasts weak 2019

PepsiCo on Friday reported quarterly earnings and revenue that met analysts’ expectations, but is forecasting weaker-than-expected earnings for 2019, like rival Coca-Cola. The food and beverage giant is forecasting that it will earn $5.50 per share during 2019, down from its 2018 earnings per share of $5.66. Wall Street had expected the company to earn $5.86 in 2019, according to Refinitiv estimates. Among other factors, PepsiCo called out an increased tax rate and currency headwinds as reasons


PepsiCo on Friday reported quarterly earnings and revenue that met analysts’ expectations, but is forecasting weaker-than-expected earnings for 2019, like rival Coca-Cola. The food and beverage giant is forecasting that it will earn $5.50 per share during 2019, down from its 2018 earnings per share of $5.66. Wall Street had expected the company to earn $5.86 in 2019, according to Refinitiv estimates. Among other factors, PepsiCo called out an increased tax rate and currency headwinds as reasons
PepsiCo earnings in line with estimates but forecasts weak 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: amelia lucas, chris ratcliffe, bloomberg, getty images
Keywords: news, cnbc, companies, billion, share, wall, pepsico, weak, net, increasing, 2019, company, reported, forecasts, estimates, earnings, line


PepsiCo earnings in line with estimates but forecasts weak 2019

PepsiCo on Friday reported quarterly earnings and revenue that met analysts’ expectations, but is forecasting weaker-than-expected earnings for 2019, like rival Coca-Cola.

The food and beverage giant is forecasting that it will earn $5.50 per share during 2019, down from its 2018 earnings per share of $5.66. Wall Street had expected the company to earn $5.86 in 2019, according to Refinitiv estimates.

Among other factors, PepsiCo called out an increased tax rate and currency headwinds as reasons for the weak outlook. Excluding currency fluctuations, it expects full-year earnings per share to decline by 1 percent. The company’s earnings last year were also boosted by selling assets and lapping franchising costs.

It is targeting annual savings of at least $1 billion through 2023, which it will achieve in part through automation, changing its go-to market systems and simplifying its organization. The program is an extension of a prior savings plan that was expected to end in 2019.

The company also said in a statement that it plans to make 2019 “a year of substantial investment,” including increasing marketing and advertising.

Shares of the company rose than 1 percent in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $1.49 vs. $1.49 expected

Revenue: $19.52 billion vs. $19.52 billion expected

The company reported net sales of $19.52 billion, matching analysts’ expectations and unchanged from a year earlier.

PepsiCo’s once-struggling North American beverage business continued its comeback this quarter, seeing 2 percent organic growth. The company has been increasing its spending on marketing and advertising, particularly on its Pepsi and Mountain Dew sodas. It has also been investing in its higher-growth water and sports drinks segments, with brands like Gatorade Zero and Lifewtr.

Its snack business remained strong, with Frito-Lay North America delivering 4 percent organic revenue growth. The company said that it is continuing to add more nutritious snacking options.

PepsiCo reported fiscal fourth-quarter net income of $6.85 billion, or $4.83 per share, up from a loss of $710 million, or 50 cents per share, a year earlier.

Excluding merger and integration charges, net tax benefits and other items, PepsiCo earned $1.49 per share, in line with Wall Street’s expectations.

In December, it completed its $3.2 billion acquisition of SodaStream, the at-home sparkling drink maker. With the exception of the SodaStream deal, PepsiCo under former CEO Indra Nooyi largely stayed away from making deals larger than $200 million in her last few years as chief executive. Current CEO Ramon Laguarta took the reins in October.

The company also announced Friday that it is increasing its dividend by 3 percent, to $3.82 from $3.71, beginning in June.

This is breaking news. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: amelia lucas, chris ratcliffe, bloomberg, getty images
Keywords: news, cnbc, companies, billion, share, wall, pepsico, weak, net, increasing, 2019, company, reported, forecasts, estimates, earnings, line


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European markets mixed after weak US data; Spain set to call snap election; Scout24 shares jump 12%

Europe’s autos stocks led the losses during morning trade, down more than 1.1 percent amid earnings news. Italy’s Pirelli led the sectoral losses, after reporting a dip in full-year sales late Thursday. Looking at individual stocks, Germany’s Scout24 surged to the top of the European benchmark. It comes after Hellman 7 Friedman and Blackstone offered to buy the online classifieds group for 5.7 billion euros ($6.4 billion), including debt. Shares of Scout24 rose nearly 12 percent during morning t


Europe’s autos stocks led the losses during morning trade, down more than 1.1 percent amid earnings news. Italy’s Pirelli led the sectoral losses, after reporting a dip in full-year sales late Thursday. Looking at individual stocks, Germany’s Scout24 surged to the top of the European benchmark. It comes after Hellman 7 Friedman and Blackstone offered to buy the online classifieds group for 5.7 billion euros ($6.4 billion), including debt. Shares of Scout24 rose nearly 12 percent during morning t
European markets mixed after weak US data; Spain set to call snap election; Scout24 shares jump 12% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: sam meredith
Keywords: news, cnbc, companies, losses, led, billion, earnings, jump, weak, shares, reporting, comes, set, european, spain, stocks, snap, scout24, morning, markets, mixed


European markets mixed after weak US data; Spain set to call snap election; Scout24 shares jump 12%

Europe’s autos stocks led the losses during morning trade, down more than 1.1 percent amid earnings news. Italy’s Pirelli led the sectoral losses, after reporting a dip in full-year sales late Thursday. Shares of the tiremaker were down over 1 percent on the news.

Looking at individual stocks, Germany’s Scout24 surged to the top of the European benchmark. It comes after Hellman 7 Friedman and Blackstone offered to buy the online classifieds group for 5.7 billion euros ($6.4 billion), including debt. Shares of Scout24 rose nearly 12 percent during morning trade.

Meanwhile, France’s Eutelstat slumped to the bottom of the index amid earnings news. Shares of the Paris-listed stock tumbled 9 percent after reporting a fall in first-half net revenue.

Elsewhere, Spanish Prime Minister Pedro Sanchez is expected to call a snap general election on Friday. It comes after parliament rejected his minority government’s 2019 budget proposal.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: sam meredith
Keywords: news, cnbc, companies, losses, led, billion, earnings, jump, weak, shares, reporting, comes, set, european, spain, stocks, snap, scout24, morning, markets, mixed


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Cramer’s game plan: Investors shouldn’t underestimate the importance of a trade deal with China

CVS: Cramer said this will be one of the most critical shareholder calls to come this earnings season. As Amazon makes a foray into health care, CVS has aimed to bolster its competitive stance with its acquisition of health insurer Aetna. “I think many people are waiting for this quarter to be out of the way … [to] get those lower numbers before they buy the stock,” Cramer said. Bausch Health: Cramer has been impressed by CEO Joe Papa’s leadership and expects him to show more progress when the


CVS: Cramer said this will be one of the most critical shareholder calls to come this earnings season. As Amazon makes a foray into health care, CVS has aimed to bolster its competitive stance with its acquisition of health insurer Aetna. “I think many people are waiting for this quarter to be out of the way … [to] get those lower numbers before they buy the stock,” Cramer said. Bausch Health: Cramer has been impressed by CEO Joe Papa’s leadership and expects him to show more progress when the
Cramer’s game plan: Investors shouldn’t underestimate the importance of a trade deal with China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: tyler clifford
Keywords: news, cnbc, companies, trade, importance, devices, game, cvs, deal, investors, china, plan, shouldnt, foods, stock, company, earnings, health, wholly, underestimate, cramer, cramers, brands


Cramer's game plan: Investors shouldn't underestimate the importance of a trade deal with China

CVS: Cramer said this will be one of the most critical shareholder calls to come this earnings season. As Amazon makes a foray into health care, CVS has aimed to bolster its competitive stance with its acquisition of health insurer Aetna. It’s a part of the company’s strategy to change focus from a brick-and-mortar franchise to a services industry.

But there are concerns that integration challenges could force the drug store giant to lower its guidance.

“I think many people are waiting for this quarter to be out of the way … [to] get those lower numbers before they buy the stock,” Cramer said. “So even if CVS does shave down its guidance the stock might jump as long as they don’t take their full-year earnings estimates below $7. That’s the magic number. And if they don’t cut their numbers, well holy cow this thing is going to $75 in a straight line.”

Bausch Health: Cramer has been impressed by CEO Joe Papa’s leadership and expects him to show more progress when the company delivers its earnings report before the open. He notes that Bausch has loaded on debt, but he thinks investors should focus instead on new drugs.

“With the stock trading at less than seven times this year’s earnings estimates again kept down by that debt load, it’s too cheap to ignore,” Cramer said.

Analog Devices: Semiconductor companies have had a bumpy road, particularly those dealing with cellphones. But Analog Devices is one of the exceptions that could see positive results.

“Analog Devices … has been one of those winners,” Cramer said. “This company is all about the internet of things, IOT, and I believe they’ll put up a good quarter.”

Hormel Foods: Cramer said he’ll put his thesis that there is little safety in safety stocks to the test when Hormel Foods, the owner of brands like Spam, Dinty Moore, Apple Gate Farms, Justin’s, and Wholly Guacamole.

Hormel Foods is the food company responsible for a range of brands including Spam, Dinty Moore, Apple Gate Farms, Justin’s, and Wholly Guacamole.

“I think these latter brands are the reason why Hormel’s stock has left its packaged food companies … in its sector right in the dust,” Cramer said.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: tyler clifford
Keywords: news, cnbc, companies, trade, importance, devices, game, cvs, deal, investors, china, plan, shouldnt, foods, stock, company, earnings, health, wholly, underestimate, cramer, cramers, brands


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NBA stars James, Curry and Durant make more money off the court

For the fifth straight year, LeBron James is the highest-paid player in the NBA. Now in his 16th season with the league, James’ earnings for the 2018-2019 season total $88.7 million, according to Forbes’ list of the top 10 NBA earners. Looking at salary, bonuses and endorsement deals, Forbes found Stephen Curry and Kevin Durant to be the second and third highest-paid players in the NBA. Curry’s total earnings for the season come to $79.5 million and Durant’s earnings come to $65 million. In fact


For the fifth straight year, LeBron James is the highest-paid player in the NBA. Now in his 16th season with the league, James’ earnings for the 2018-2019 season total $88.7 million, according to Forbes’ list of the top 10 NBA earners. Looking at salary, bonuses and endorsement deals, Forbes found Stephen Curry and Kevin Durant to be the second and third highest-paid players in the NBA. Curry’s total earnings for the season come to $79.5 million and Durant’s earnings come to $65 million. In fact
NBA stars James, Curry and Durant make more money off the court Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: courtney connley, david liam kyle, getty images, jim mcisaac, gregory shamus, gregory shamus via getty
Keywords: news, cnbc, companies, list, nba, durant, million, highestpaid, earnings, total, season, court, money, players, stars, curry, forbes, james


NBA stars James, Curry and Durant make more money off the court

For the fifth straight year, LeBron James is the highest-paid player in the NBA.

Now in his 16th season with the league, James’ earnings for the 2018-2019 season total $88.7 million, according to Forbes’ list of the top 10 NBA earners.

Looking at salary, bonuses and endorsement deals, Forbes found Stephen Curry and Kevin Durant to be the second and third highest-paid players in the NBA. Curry’s total earnings for the season come to $79.5 million and Durant’s earnings come to $65 million.

These players are known for their incredible talent on the court. But it’s their strategic moves outside of basketball that have really led to their financial success. In fact, James, Curry and Durant are the only three players on the highest-paid list who make more money off the court than on it.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: courtney connley, david liam kyle, getty images, jim mcisaac, gregory shamus, gregory shamus via getty
Keywords: news, cnbc, companies, list, nba, durant, million, highestpaid, earnings, total, season, court, money, players, stars, curry, forbes, james


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Nvidia jumps after beating on earnings and revenue

On Jan. 28, Nvidia released updated fiscal fourth-quarter guidance indicating that gaming and data center revenue were below the company’s expectations. The company’s Data Center business segment had $679 million in revenue, coming in lower than the $839 million estimate from Refinitiv. Professional Visualization segment revenue was $293 million, missing the $314 million estimate, and Automotive segment revenue was $163 million, missing the $181 million estimate. Revenue from original equipment


On Jan. 28, Nvidia released updated fiscal fourth-quarter guidance indicating that gaming and data center revenue were below the company’s expectations. The company’s Data Center business segment had $679 million in revenue, coming in lower than the $839 million estimate from Refinitiv. Professional Visualization segment revenue was $293 million, missing the $314 million estimate, and Automotive segment revenue was $163 million, missing the $181 million estimate. Revenue from original equipment
Nvidia jumps after beating on earnings and revenue Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: jordan novet
Keywords: news, cnbc, companies, earnings, million, fiscal, analysts, share, revenue, estimate, inventory, quarter, billion, beating, jumps, nvidia


Nvidia jumps after beating on earnings and revenue

Shares of chipmaker Nvidia rose as much as 8 percent on Thursday after the company reported better-than-expected earnings for the fourth quarter of its 2019 fiscal year. Executives will discuss the results with analysts on a conference call at 5:30 p.m. Eastern time.

Here are the key numbers:

Earnings: 80 cents per share, excluding certain items, vs. 75 cents per share as expected by analysts, according to Refinitiv.

80 cents per share, excluding certain items, vs. 75 cents per share as expected by analysts, according to Refinitiv. Revenue: $2.21 billion, vs. $2.20 billion as expected by analysts, according to Refinitiv.

Revenue was down 24 percent year over year in the quarter, which ended on Jan. 27, according to a statement.

Nvidia shares are up 15 percent since the beginning of the year, but in the past year the stock is down 36 percent.

“This was a turbulent close to what had been a great year,” Nvidia CEO Jensen Huang said in the company’s press release. “The combination of post-crypto excess channel inventory and recent deteriorating end-market conditions drove a disappointing quarter.”

The company disclosed excess inventory one quarter ago. On Jan. 28, Nvidia released updated fiscal fourth-quarter guidance indicating that gaming and data center revenue were below the company’s expectations.

Nvidia’s gaming business segment ended the fiscal fourth quarter with $954 billion in revenue, which is under the $1.21 billion consensus among analysts polled by Refinitiv.

The company’s Data Center business segment had $679 million in revenue, coming in lower than the $839 million estimate from Refinitiv.

Professional Visualization segment revenue was $293 million, missing the $314 million estimate, and Automotive segment revenue was $163 million, missing the $181 million estimate. Revenue from original equipment manufacturers and intellectual property came in under the $124 million estimate at $116 million.

Analysts from Raymond James said sentiment from the supply chain turned more negative.

“Gaming sales naturally continue to be impacted by the significant inventory overhang,” the analysts wrote in a Jan. 28 note. “That inventory reduction has been impacted by slower sell-through, particularly in China.”

In the fiscal fourth quarter Nvidia announced the availability of the GeForce RTX 2060 graphics card for PC gaming.

With respect to guidance, Nvidia said it’s expecting $2.20 billion in revenue, plus or minus 2 percent, in the first quarter of its 2020 fiscal year. The midpoint is below the $2.28 billion Refinitiv estimate, and it would reflect a revenue decline of 31 percent.

The company believes fiscal year 2020 revenue will be “flat to down slightly.” Analysts polled by Refinitiv were expecting a 7 percent revenue decline for that period.

Jim Kelleher, an analyst at Argus research, described Nvidia’s situation as a “near-perfect storm,” because of higher inventory, the launch of an expensive product and “a one-time runoff in crypto-related inventory.” Kelleher has a buy rating on Nvidia.

This is breaking news. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: jordan novet
Keywords: news, cnbc, companies, earnings, million, fiscal, analysts, share, revenue, estimate, inventory, quarter, billion, beating, jumps, nvidia


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Stocks making the biggest moves midday: MGM Resorts, AIG, Marathon Oil & more

Check out the companies making headlines midday Thursday:Bloomin’ Brands — Shares of the hospitality company jumped 8.95 percent on stronger-than-expected quarterly results. Avon Products — The cosmetics maker’s stock dropped 11 percent after Avon reported mixed results for the fourth quarter. Marathon Oil — Shares of Marathon Oil surged 8.75 percent after the company reported better-than-expected earnings and revenues in the fourth quarter as its total oil production rose 17 percent year-over-y


Check out the companies making headlines midday Thursday:Bloomin’ Brands — Shares of the hospitality company jumped 8.95 percent on stronger-than-expected quarterly results. Avon Products — The cosmetics maker’s stock dropped 11 percent after Avon reported mixed results for the fourth quarter. Marathon Oil — Shares of Marathon Oil surged 8.75 percent after the company reported better-than-expected earnings and revenues in the fourth quarter as its total oil production rose 17 percent year-over-y
Stocks making the biggest moves midday: MGM Resorts, AIG, Marathon Oil & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: fred imbert, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, earnings, estimates, company, marathon, mgm, stocks, biggest, aig, oil, share, midday, results, reported, quarterly, resorts, quarter, cents, making, moves, shares


Stocks making the biggest moves midday: MGM Resorts, AIG, Marathon Oil & more

Check out the companies making headlines midday Thursday:

Bloomin’ Brands — Shares of the hospitality company jumped 8.95 percent on stronger-than-expected quarterly results. Bloomin’ Brands posted earnings per share of 30 cents and revenue of $1.01 billion. Analysts polled by Refinitiv expected a profit of 26 cents a share on sales of $1.001 billion.

Avon Products — The cosmetics maker’s stock dropped 11 percent after Avon reported mixed results for the fourth quarter. Avon’s profit of 7 cents a share was in line with a Refinitiv estimate. Sales of $1.402 billion missed expectations, however.

MGM Resorts — Shares of MGM fell 6.36 percent after the casino and resort operator reported a diluted loss per share of 6 cents in the current quarter compared to diluted earnings per share of $2.39 in the prior year quarter. MGM’s fourth-quarter earnings came in one cent above estimates. It also announced an eight percent dividend hike to 13 cents per share from 12 cents.

American International Group — AIG’s stock slid 9 percent after the insurance company posted an unexpected loss of 63 cents per share, after consensus forecasts had predicted a profit of 42 cents per share. Its results were hurt by weaker returns in the equity and credit markets.

Marathon Oil — Shares of Marathon Oil surged 8.75 percent after the company reported better-than-expected earnings and revenues in the fourth quarter as its total oil production rose 17 percent year-over-year. The oil producer also sees oil output rising 10 percent in 2019.

Six Flags Entertainment — The theme park operator sunk nearly 13 percent after the company missed Wall Street’s revenue expectations for fourth-quarter. The quarterly results were mixed though — profit was still well-above consensus expectations.

Sleep Number — Shares of mattress firm Sleep Number rose 14.7 percent Thursday after the company reported better-than-expected earnings and forecast a strong outlook for 2019. The Minneapolis-based company also reported a 13 percent increase in sales from a year ago.

Tempur Sealy – Despite issuing an earnings outlook largely below Wall Street estimates, Tempur Sealy has erased its premarket losses, and was up 2.9 percent. The Kentucky-based firm also posted weaker-than-expected earnings, but it did deliver stronger quarterly sales numbers than analysts anticipated.

Coca-Cola —Shares of Coca-Cola fell 8.44 percent after it released a disappointing growth forecast for 2019. The company reported that it has been battling currency headwinds which it claims hurt its fourth quarter earnings by 10 percent. Coke reported fourth-quarter earnings in line with estimates, and revenues that beat estimates by $22 million.

Cisco Systems — Cisco System’s stock rose 2.93 percent after its second-quarter results beat estimates on the top and bottom lines. The hardware company beat analyst estimates by a penny with an adjusted quarterly profit of 73 cents. It’s growth in cyber security and applications software boosted its revenues. Cisco added $15 billion to its company stock buyback program and raised quarterly dividends by 6 percent.

Amazon — Shares of Amazon fell 1 percent following the company’s announcement that it will not build a headquarters in New York in response to a large opposition from state and local politicians.

—CNBC’s Nadine El-Bawab, Yun Li, JR Reed and Kate Rooney contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: fred imbert, spencer platt, getty images news, getty images
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Traders expect Nvidia to see a huge move on earnings

Nvidia finds itself right in the middle of the pack, rallying 15 percent after a brutal end to 2018 cut the stock in half. “The implied movement is pretty big, and [Nvidia] has been an aggressive mover on earnings news over the last few months,” Nathan said Wednesday on CNBC’s “Fast Money.” “If you think back to Nov. 15, the company reported a very disappointing result, the stock was down 20 percent. Nathan noted that the current implied move for Nvidia stock is roughly 7 percent in either direc


Nvidia finds itself right in the middle of the pack, rallying 15 percent after a brutal end to 2018 cut the stock in half. “The implied movement is pretty big, and [Nvidia] has been an aggressive mover on earnings news over the last few months,” Nathan said Wednesday on CNBC’s “Fast Money.” “If you think back to Nov. 15, the company reported a very disappointing result, the stock was down 20 percent. Nathan noted that the current implied move for Nvidia stock is roughly 7 percent in either direc
Traders expect Nvidia to see a huge move on earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: tyler bailey, akio kon, bloomberg, getty images, andrew caballero-reynolds, afp, david a grogan
Keywords: news, cnbc, companies, earnings, traders, weekly, company, stock, huge, options, implied, price, expect, 15, nvidia, atthemoney


Traders expect Nvidia to see a huge move on earnings

Chip stocks are ripping in 2019, can Nvidia’s earnings report keep the rally going? 23 Hours Ago | 03:43

Semiconductors are surging this year. The SMH ETF that tracks the space is up 17 percent in 2019, with a number of names in the group soaring double digits.

Nvidia finds itself right in the middle of the pack, rallying 15 percent after a brutal end to 2018 cut the stock in half. The company is scheduled to report earnings after the bell Thursday, and while Nvidia issued a warning last month, the options market is still expecting a big move for the chip stock, said RiskReversal.com’s Dan Nathan.

“The implied movement is pretty big, and [Nvidia] has been an aggressive mover on earnings news over the last few months,” Nathan said Wednesday on CNBC’s “Fast Money.” “If you think back to Nov. 15, the company reported a very disappointing result, the stock was down 20 percent. Then, just last month, Jan. 25, the company pre-announced a negative quarter and the stock was down 15 percent,” he added.

Nathan noted that the current implied move for Nvidia stock is roughly 7 percent in either direction.

But what is an implied move, and how do you calculate it?

The implied move refers to the price of the at-the-money put plus the price of the at-the-money call, divided by the strike price. This can help give investors clues as to where the options market expects a particular stock to trade by a given date.

“If I know that [Nvidia] is reporting on Thursday after the close, I can look at the at-the-money straddle, the weekly options. When the stock was trading at $155, the weekly 155-call was offered at $5.50, the weekly 155-put was offered at $5.50. Together, that makes $11,” Nathan said.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: tyler bailey, akio kon, bloomberg, getty images, andrew caballero-reynolds, afp, david a grogan
Keywords: news, cnbc, companies, earnings, traders, weekly, company, stock, huge, options, implied, price, expect, 15, nvidia, atthemoney


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Nvidia jumps after beating on earnings and revenue

On Jan. 28, Nvidia released updated fiscal fourth-quarter guidance indicating that gaming and data center revenue were below the company’s expectations. The company’s Data Center business segment had $679 million in revenue, coming in lower than the $839 million estimate from Refinitiv. Professional Visualization segment revenue was $293 million, missing the $314 million estimate, and Automotive segment revenue was $163 million, missing the $181 million estimate. Revenue from original equipment


On Jan. 28, Nvidia released updated fiscal fourth-quarter guidance indicating that gaming and data center revenue were below the company’s expectations. The company’s Data Center business segment had $679 million in revenue, coming in lower than the $839 million estimate from Refinitiv. Professional Visualization segment revenue was $293 million, missing the $314 million estimate, and Automotive segment revenue was $163 million, missing the $181 million estimate. Revenue from original equipment
Nvidia jumps after beating on earnings and revenue Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: jordan novet
Keywords: news, cnbc, companies, earnings, million, fiscal, analysts, share, revenue, estimate, inventory, quarter, billion, beating, jumps, nvidia


Nvidia jumps after beating on earnings and revenue

Shares of chipmaker Nvidia rose as much as 8 percent on Thursday after the company reported better-than-expected earnings for the fourth quarter of its 2019 fiscal year. Executives will discuss the results with analysts on a conference call at 5:30 p.m. Eastern time.

Here are the key numbers:

Earnings: 80 cents per share, excluding certain items, vs. 75 cents per share as expected by analysts, according to Refinitiv.

80 cents per share, excluding certain items, vs. 75 cents per share as expected by analysts, according to Refinitiv. Revenue: $2.21 billion, vs. $2.20 billion as expected by analysts, according to Refinitiv.

Revenue was down 24 percent year over year in the quarter, which ended on Jan. 27, according to a statement.

Nvidia shares are up 15 percent since the beginning of the year, but in the past year the stock is down 36 percent.

“This was a turbulent close to what had been a great year,” Nvidia CEO Jensen Huang said in the company’s press release. “The combination of post-crypto excess channel inventory and recent deteriorating end-market conditions drove a disappointing quarter.”

The company disclosed excess inventory one quarter ago. On Jan. 28, Nvidia released updated fiscal fourth-quarter guidance indicating that gaming and data center revenue were below the company’s expectations.

Nvidia’s gaming business segment ended the fiscal fourth quarter with $954 billion in revenue, which is under the $1.21 billion consensus among analysts polled by Refinitiv.

The company’s Data Center business segment had $679 million in revenue, coming in lower than the $839 million estimate from Refinitiv.

Professional Visualization segment revenue was $293 million, missing the $314 million estimate, and Automotive segment revenue was $163 million, missing the $181 million estimate. Revenue from original equipment manufacturers and intellectual property came in under the $124 million estimate at $116 million.

Analysts from Raymond James said sentiment from the supply chain turned more negative.

“Gaming sales naturally continue to be impacted by the significant inventory overhang,” the analysts wrote in a Jan. 28 note. “That inventory reduction has been impacted by slower sell-through, particularly in China.”

In the fiscal fourth quarter Nvidia announced the availability of the GeForce RTX 2060 graphics card for PC gaming.

With respect to guidance, Nvidia said it’s expecting $2.20 billion in revenue, plus or minus 2 percent, in the first quarter of its 2020 fiscal year. The midpoint is below the $2.28 billion Refinitiv estimate, and it would reflect a revenue decline of 31 percent.

The company believes fiscal year 2020 revenue will be “flat to down slightly.” Analysts polled by Refinitiv were expecting a 7 percent revenue decline for that period.

Jim Kelleher, an analyst at Argus research, described Nvidia’s situation as a “near-perfect storm,” because of higher inventory, the launch of an expensive product and “a one-time runoff in crypto-related inventory.” Kelleher has a buy rating on Nvidia.

This is breaking news. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: jordan novet
Keywords: news, cnbc, companies, earnings, million, fiscal, analysts, share, revenue, estimate, inventory, quarter, billion, beating, jumps, nvidia


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