Over a Third of the S&P 500 Scheduled to Release Earnings This Week – Latest Updates on CAT, MSFT, UNP and XRX
New York, New York – April 26th, 2016 – Sliding oil prices and disappointing results from Microsoft Corp. and Alphabet Inc. pressured markets lower Monday. The Dow Jones Industrial Average fell 0.15 percent to close at 17,977.24, while the S&P 500 Index dropped 0.18 percent to close at 2,087.79. At the start of the year analysts’ projected earnings growth to be flat for the S&P 500 Index, estimates have since fallen to a decline of 9.2 percent. Over a third of the S&P 500 is scheduled to release earnings this week.
“The market is at an important juncture -- this is the third time in the last 15 to 18 months that we’ve been near record levels in major indexes,” said Matt Maley, Miller Tabak equity strategist. “Earnings are going to be the big focus this week. Nobody’s really looking for anything surprising out of the Fed. People will be closely watching the BOJ meeting on Thursday.”
Here is how some S&P 500 companies reacted Monday:
Caterpillar Inc. (NYSE: CAT) shares declined 2.00 percent to close at $76.75 a share Monday. The stock traded between $76.20 and $78.86 on volume of 8.08 million shares traded. The company reported sales and revenues of $9.5 billion for the first quarter of 2016, a decrease of 25.2 percent when compared to a year ago. Shares of Caterpillar have gained approximately 13.0 percent year-to-date and are up roughly 2.0 percent in the past month.
Find out more about Caterpillar including full access to the equity report at:
Microsoft Corporation (NASDAQ: MSFT) shares gained 0.64 percent to close at $52.11 a share Monday. The stock traded between $51.63 and $52.13 on volume of 33.13 million shares traded. The company reported earnings of $0.62 per share on revenues of $22.08 billion for the third quarter of fiscal 2016, which fell short of Wall Street’s estimates of $0.64 per share on revenue of $22.09 billion. Shares of Microsoft have fallen approximately 6.0 percent year-to-date and are down roughly 4.0 percent in the past month.
Find out more about Microsoft including full access to the equity report at:
Union Pacific Corporation (NYSE: UNP) shares declined 2.25 percent to close at $87.61 a share Thursday. The stock traded between $86.89 and $89.30 on volume of 4.63 million shares traded. The company recently reported revenues of $4.83 billion for the first quarter of 2016, a decrease of 14.0 percent year-over-year and short of analysts’ estimates of $4.9 billion. Shares of Union Pacific have gained approximately 12.0 percent year-to-date and are up roughly 8.0 percent in the past month.
Find out more about Union Pacific including full access to the equity report at:
Xerox Corp. (NYSE: XRX) shares dropped 13.34 percent to close at $9.68 a share Monday. The stock traded between $9.64 and $10.68 on volume of 35.35 million shares traded. The company reported revenues were $4.28 billion for the first quarter of 2016, a decrease of 4.2 percent when compared to a year ago. Shares of Xerox have fallen approximately 9.0 percent year-to-date and are down roughly 9.0 percent in the past month.
Find out more about Xerox including full access to the equity report at:
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