Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce joined the country’s other lenders in topping analysts’ estimates for third-quarter earnings, lifted by record profits in domestic consumer lending and wealth management.
Schlumberger Limited (NYSE:SLB), the largest oilfield services provider in the world, has been struggling as part of an industry-wide downturn. Oil prices have collapsed from their 2014 highs, crippling the energy sector in the process. Investment in exploration activities has dropped, hurting demand for services provided by oilfield drillers like Schlumberger.
Tesoro Corporation (NYSE:TSO) released financial results for the third quarter of its fiscal 2014 (3QFY14; ended September 30, 2014) before the opening bell on the New York Stock Exchange (NYSE) yesterday. The company easily beat analysts' estimates for refining margin, refining throughput and retail performance.
Sanmina Corp (SANM), a Fortune 500 electronics manufacturing firm, posted its earnings results for the third quarter of fiscal 2014 (3QFY14; ended June 28, 2014), yesterday after the closing bell. The company outperformed analysts’ expectations, reporting per share earnings (EPS) of $0.53, 5 cents more than analysts’ consensus estimate. The company reported quarterly revenues of $1.60 billion, again beating analysts’ estimates of $1.55 billion.
Constellation Brands, Inc. (STZ) reported the results for the first quarter of its fiscal 2015, and posted both earnings and revenues that exceeded analysts’ estimates. The company also said that its strong results were reflected by robust demand for its beer brands which drove sales higher.
Skullcandy Inc (SKUL), the headphone maker, reported results for the first quarter of its fiscal 2014 (1QFY14) with an adjusted loss of 12 cents per share, beating analysts’ estimates by five cents. The stock went up more than 9% following the beat announcement, and is up about 13% in pre-market trading. The company’s revenues for the quarter came in at $39.1 million, missing analysts’ estimates by $145,000.
United States Steel Corporation (X) reported results for the first quarter of its fiscal 2014 (1QFY14) on Tuesday, with adjusted earnings per share (EPS) of 34 cents, beating analysts’ estimates by four cents. Revenues for the largest steel producer in the US came in at $4.45 billion, missing analysts’ estimates by $50 million.
International Business Machines (IBM) reported results for the first quarter of its fiscal year 2014 (1QFY14; ended March 31, 2014) yesterday after markets closed. The company’s earnings were in line with analysts’ estimates while revenues missed expectations by 1.83%. The company faced troubles in its Hardware business while the Software business ended up beating expectations.
AAPL stock is currently trading at or just under the $500 "generational bottom" in the premarket session, or nearly a one year low, following news first from Japan's Nikkei that Apple has slashed orders for iPhone 5 components, and then from the WSJ, that demand for the flagship phone was far less than expected, resulting in a cut in orders in the supply chain.