Analysts Forecasts a Tepid Earnings Season – Latest Updates on AA, FAST, JNPR and LM
New York, New York – April 13th, 2016 – U.S. markets spiked Tuesdays as oil prices climbed higher on speculation of a production freeze by major oil producers. The Dow Jones Industrial Average rose 1.04 percent, while the S&P 500 Index gained 1.11 percent. On Tuesday, Brent Crude, considered the global benchmark, spiked by as much as 3.4 percent to $44.28 a barrel, a five-month high.
Investors appear to be preparing for a tepid earnings season after Alcoa Inc. kicked off the season with disappointing outlook Monday. As of March 31st, FactSet projects earnings for the S&P 500 Index to decline 8.5 percent year-over-year. Revenues for the S&P 500 are also expected to decline for the fifth consecutive quarter. The corporate earnings outlook is low to flat,” said Oliver Pursche, chief executive at Bruderman & Co.
Here is how some S&P 500 companies reacted Tuesday:
Alcoa Inc. (NYSE: AA) shares declined 2.67 percent to close at $9.47 a share Tuesday. The stock traded between $9.16 and $9.50 on volume of 66.80 million shares traded. The company reported revenues were $4.9 billion for the first quarter of 2016, a decrease of 15.0 percent year-over-year and below analysts’ expectations of $5.14 billion. Shares of Alcoa have fallen approximately 4.0 percent year-to-date and are down roughly 1.0 percent in the past month.
Find out more about Alcoa including full access to the equity report at:
Fastenal Company (NASDAQ: FAST) shares declined 3.41 percent to close at $45.34 a share Tuesday. The stock traded between $45.00 and $46.18 on volume of 7.92 million shares traded. The company reported a profit of $126.3 million for the first quarter of 2016, a decrease of 1.1 percent year-over-year. Shares of Fastenal have gained approximately 11.0 percent year-to-date and are down roughly 3.0 percent in the past month.
Find out more about Fastenal including full access to the equity report at:
Juniper Networks, Inc. (NYSE: JNPR) shares fell 7.35 percent to close at $23.06 a share Tuesday. The stock traded between $22.40 and $23.21 on volume of 23.68 million shares traded. The company now expects revenues to be in the range of $1,090 million to $1,100 million for the first quarter of 2016, down from its previous guidance of $1,150 million to $1,190 million. Shares of Juniper Networks have fallen approximately 16.0 percent year-to-date and are down roughly 12.0 percent in the past month.
Find out more about Juniper Networks including full access to the equity report at:
Legg Mason Inc. (NYSE: LM) shares gained 1.96 percent to close at $32.19 a share Tuesday. The stock traded between $31.26 and $32.41 on volume of 1.55 million shares traded. Nelson Peltz’s Trian Fund Management LP has recently sold its entire 9.9 percent stake in Legg Mason. Shares of Legg Mason have fallen approximately 18.0 percent year-to-date and are down roughly 3.0 percent in the past month.
Find out more about Legg Mason including full access to the equity report at:
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