Earnings Archives - Page 18 of 30

April 26, 2022

Stocks resume losses ahead of Big Tech earnings

U.S. stocks fell Tuesday after markets staged a rebound to end higher in the previous trading session. Investors are looking ahead to a batch of mega cap tech earnings in the coming days, with reports from Microsoft (MSFT) and Alphabet (GOOGL) due out after the bell.

The S&P 500 dipped 0.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} at the start of trading, while the Dow Jones Industrial Average shed 230 points after the index staged a 500-point recovery on Monday to close in the green. The tech-heavy Nasdaq Composite tumbled 1.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

Investors are in the heart of earnings season, with the S&P 500’s most heavily-weighted components scheduled to report earnings results this week. Facebook parent company Meta (FB), Apple (AAPL), and Amazon (AMZN) are also set to report quarterly results through Thursday.

As of Friday, one-fifth of companies in the index have reported results for the first quarter so far, with 79{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} reflecting an earnings beat for the period – above the five-year average of 77{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, according to the latest available data from FactSet. The magnitude of the earnings beat, however, is below the five-year average: 8.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, compared to 8.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

“The lower earnings growth rate for Q1 2022 relative to recent quarters can be attributed to both a difficult comparison to unusually high earnings growth in Q1 2021 and continuing macroeconomic headwind,” John Butters, a FactSet senior earnings analyst, said in a note.

U.S. stocks paralleled movements in global equity markets on Monday, with major stock indexes in Europe and Asia largely falling on renewed concerns a COVID outbreak in China may spur another wave of lockdowns and further disrupt global supply chains.

Worries of an economic slowdown also weighed on bonds and oil, with the 10-year Treasury yield retreating back to 2.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and West Texas intermediate crude oil futures edging below $100 per barrel.

“I think the most interesting thing happening in China right now is not that the yuan’s moving and not that the economy’s slowing – it’s that everything that’s happening right now, we knew weeks ago,” China Beige Book CEO Leland Miller told Yahoo Finance Live. “We knew that the economy was slowing, we knew they were not going to stimulate in a big way, we knew that lockdowns were spreading from Shanghai to other big cities, we knew the Fed was hiking, we knew there’s a policy crackdown, so it is interesting that people are seeing today as a pivotal moment.”

Elsewhere in markets, shares of Twitter jumped 5.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} after the social media giant formally announced it agreed to be acquired by Tesla CEO Elon Musk for $54.20 per share, or $44 billion. Twitter shareholders are set to receive $54.20 in cash for each share held, representing a 38{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} premium over Twitter’s closing level on April 1.

“This is the best thing that’s ever happened to Twitter,” Hedge Fund Tips’ Thomas Hayes told Yahoo Finance Live. “Elon Musk is going to rehab the building and generate a lot of value for users.”

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9:30 a.m. ET: Stocks resume losses to extend April sell-off

Here’s where the main indexes were at the start of trading on Tuesday:

S&P 500 (^GSPC): -22.31 (-0.52{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 4,273.81
Dow (^DJI): -224.66 (-0.66{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 33,824.80
Nasdaq (^IXIC): +165.56 (+1.29{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 13,004.85
Crude (CL=F): +$1.65 (+1.67{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $100.19 a barrel
Gold (GC=F): +$10.90 (+0.57{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,906.90 per ounce
10-year Treasury (^TNX): -7.7 bps to yield 2.7490{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

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9:23 a.m ET: Home prices jump nearly 20{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during February

Home price growth in the U.S. accelerated during the month of February, but a slowdown may be underway.

Standard & Poor’s reprted Tuesday that its S&P CoreLogic Case-Shiller national home price index registered a 19.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} gain during the second month of the year, up from 19.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in January. The figure marks the third-highest reading since the index was developed in the 1980s.

The 20-City results were higher than analysts’ expectations of an 19.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} annual gain, according to Bloomberg consensus estimates.

The 10-City Composite annual increase came in at 18.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, up from 17.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the previous month. The 20-City Composite posted a 20.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} year-over-year gain, up from 18.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the previous month.

“The macroeconomic environment is evolving rapidly and may not support extraordinary home price growth for much longer,” said Craig J. Lazzara, managing director and global head of index investment strategy at S&P DJI, in a statement. “The post-COVID resumption of general economic activity has stoked inflation, and the Federal Reserve has begun to increase interest rates in response.”

“We may soon begin to see the impact of increasing mortgage rates on home prices,” he added.

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9:09 a.m ET: PepsiCo ups full-year revenue forecast on higher prices, soda demand

PepsiCo (PEP) reported higher than expected quarterly earnings of $1.29 per share, beating the $1.23 per share analysts had expected, according to Bloomberg consensus data.

The beverage and snacks maker also raised its full-revenue forecast, buoyed by higher prices and a rebound in demand for its sodas at theaters and restaurants. Pepsi now anticipates fiscal 2022 organic revenue to rise 8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, compared with its forecast of a 6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} increase.

During the quarter, the company also reported taking a $241 million charge related to Russia-Ukraine crisis.

“Looking ahead, we will focus on controlling what we can, such as enhancing our focus on productivity and sharpening our revenue management capabilities, while also continuing to make the necessary long-term investments to fortify our businesses and win in the marketplace,” PepsiCo CEO Ramon Laguarta said in the earnings release.

Shares of Pepsi were little changed in pre-market trading.

Pepsi cans are seen at the shop in this illustration photo taken in Krakow, Poland, on March 18, 2022. (Photo by Jakub Porzycki/NurPhoto via Getty Images)

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7:10 a.m. ET: Futures slip after stocks recover from losses in previous session

Here were the main moves in futures trading ahead of Tuesday’s open:

S&P 500 futures (ES=F): -16.50 (-0.40{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 4,276.25
Dow futures (YM=F): -130.00 (-0.38{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 33,835.00
Nasdaq futures (NQ=F): -62.50 (-0.46{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 13,473.25
Crude (CL=F): -$0.35 (-0.36{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $98.89
Gold (GC=F): +$12.70 (+0.67{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,908.70 per ounce
10-year Treasury (^TNX): 0.00 bps to yield 2.8260{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

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6:15 p.m. ET Monday: Stock futures muted ahead of earnings reports mega cap earnings

Here’s were stock futures were in post-market trading Monday evening:

S&P 500 futures (ES=F): -1.75 (-0.04{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 4,291.00
Dow futures (YM=F): -10.00 (-0.03{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 33,955.00
Nasdaq futures (NQ=F): -19.50 (-0.14{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 13,516.25
Crude (CL=F): -$0.10 (-0.00{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $98.66
Gold (GC=F): +$3.20 (+0.17{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,899.20 per ounce
10-year Treasury (^TNX): -8 bps to yield 2.8260{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

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Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

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April 25, 2022

Capital One Financial Analysts Raise Earnings Estimates for Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG)

Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG – Get Rating) – Equities researchers at Capital One Financial lifted their FY2022 earnings per share (EPS) estimates for Northern Oil and Gas in a note issued to investors on Thursday, April 21st. Capital One Financial analyst P. Johnston now forecasts that the energy company will earn $6.09 per share for the year, up from their prior estimate of $6.01. Capital One Financial also issued estimates for Northern Oil and Gas’ Q4 2022 earnings at $1.74 EPS and FY2023 earnings at $7.52 EPS.

Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The energy company reported $1.06 earnings per share (EPS) for the quarter. Northern Oil and Gas had a net margin of 1.28{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a negative return on equity of 351.74{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The company had revenue of $332.37 million during the quarter. During the same quarter in the prior year, the company posted $0.64 EPS.

A number of other brokerages have also recently issued reports on NOG. Piper Sandler increased their target price on shares of Northern Oil and Gas from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 7th. Truist Financial increased their target price on shares of Northern Oil and Gas from $45.00 to $50.00 in a research report on Thursday. Wells Fargo & Company cut shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a research report on Monday, March 14th. They noted that the move was a valuation call. Bank of America cut shares of Northern Oil and Gas from a “buy” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $38.00 in a research report on Tuesday, March 8th. Finally, Raymond James increased their target price on shares of Northern Oil and Gas from $43.00 to $45.00 and gave the stock a “strong-buy” rating in a research report on Friday, March 25th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $36.70.

Shares of Northern Oil and Gas stock opened at $25.45 on Monday. The stock has a market cap of $1.97 billion, a P/E ratio of -24.95, a PEG ratio of 0.51 and a beta of 2.25. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 3.73. Northern Oil and Gas has a 12-month low of $12.07 and a 12-month high of $30.44.

Large investors have recently added to or reduced their stakes in the stock. EAM Global Investors LLC bought a new position in shares of Northern Oil and Gas in the third quarter valued at $2,246,000. New York State Common Retirement Fund boosted its position in Northern Oil and Gas by 430.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the fourth quarter. New York State Common Retirement Fund now owns 415,191 shares of the energy company’s stock worth $8,545,000 after purchasing an additional 336,917 shares during the period. Brandywine Global Investment Management LLC bought a new position in Northern Oil and Gas during the third quarter worth $4,754,000. Geneos Wealth Management Inc. boosted its position in Northern Oil and Gas by 16.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the third quarter. Geneos Wealth Management Inc. now owns 8,040 shares of the energy company’s stock worth $179,000 after purchasing an additional 1,120 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its position in Northern Oil and Gas by 162.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the third quarter. Deprince Race & Zollo Inc. now owns 1,364,461 shares of the energy company’s stock worth $29,199,000 after purchasing an additional 844,377 shares during the period. 88.47{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is owned by institutional investors and hedge funds.

In other news, insider Michael D. Kelly sold 13,000 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $28.34, for a total value of $368,420.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lisa Meier sold 12,500 shares of Northern Oil and Gas stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $25.88, for a total transaction of $323,500.00. The disclosure for this sale can be found here. Company insiders own 4.40{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Wednesday, March 30th will be issued a dividend of $0.14 per share. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.08. This represents a $0.56 annualized dividend and a yield of 2.20{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The ex-dividend date of this dividend is Tuesday, March 29th. Northern Oil and Gas’s dividend payout ratio (DPR) is -54.90{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

Northern Oil and Gas Company Profile (Get Rating)

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.

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April 23, 2022

Capital One Financial Analysts Lower Earnings Estimates for Marathon Oil Co. (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO – Get Rating) – Analysts at Capital One Financial dropped their Q1 2022 EPS estimates for Marathon Oil in a report released on Tuesday, April 19th. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will post earnings of $0.83 per share for the quarter, down from their previous estimate of $1.05. Capital One Financial also issued estimates for Marathon Oil’s Q2 2022 earnings at $0.83 EPS, Q3 2022 earnings at $0.85 EPS, FY2022 earnings at $3.39 EPS and FY2023 earnings at $2.80 EPS.

Marathon Oil (NYSE:MRO – Get Rating) last released its earnings results on Wednesday, February 16th. The oil and gas producer reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.22. Marathon Oil had a net margin of 17.30{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a return on equity of 11.60{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the business earned ($0.12) EPS. The business’s revenue was up 116.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} on a year-over-year basis.

Several other research firms also recently issued reports on MRO. Barclays boosted their price objective on shares of Marathon Oil from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, April 12th. Citigroup upped their target price on shares of Marathon Oil from $17.00 to $20.00 in a research note on Monday, January 3rd. Piper Sandler upped their target price on shares of Marathon Oil from $27.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, April 7th. Raymond James upped their target price on shares of Marathon Oil from $27.00 to $31.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 22nd. Finally, Royal Bank of Canada upped their target price on shares of Marathon Oil from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, March 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $26.80.

NYSE:MRO opened at $27.65 on Thursday. The firm’s 50-day moving average is $23.96 and its 200-day moving average is $19.49. Marathon Oil has a 52-week low of $9.70 and a 52-week high of $27.72. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.11. The company has a market cap of $19.87 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 0.45 and a beta of 2.76.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sigma Planning Corp lifted its holdings in Marathon Oil by 111.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the first quarter. Sigma Planning Corp now owns 43,622 shares of the oil and gas producer’s stock valued at $1,095,000 after buying an additional 23,012 shares during the period. Adams Asset Advisors LLC acquired a new stake in Marathon Oil in the first quarter worth $228,000. Harbor Investment Advisory LLC raised its holdings in Marathon Oil by 138.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the first quarter. Harbor Investment Advisory LLC now owns 1,720 shares of the oil and gas producer’s stock worth $43,000 after purchasing an additional 1,000 shares during the period. Koshinski Asset Management Inc. raised its holdings in Marathon Oil by 67.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the first quarter. Koshinski Asset Management Inc. now owns 4,187 shares of the oil and gas producer’s stock worth $105,000 after purchasing an additional 1,685 shares during the period. Finally, Richelieu Gestion PLC acquired a new stake in Marathon Oil in the first quarter worth $188,000. Institutional investors and hedge funds own 77.26{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.

In related news, insider Patrick Wagner sold 21,673 shares of the stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $25.45, for a total value of $551,577.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Rob L. White sold 8,700 shares of the stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $23.00, for a total transaction of $200,100.00. The disclosure for this sale can be found here. Insiders have sold 1,180,065 shares of company stock worth $29,703,167 over the last quarter. 0.76{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is owned by company insiders.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 10th. Stockholders of record on Wednesday, February 16th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.01{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, February 15th. Marathon Oil’s dividend payout ratio is presently 23.14{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

About Marathon Oil (Get Rating)

Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.

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April 22, 2022

Stocks extend losses as investors weigh hawkish Powell remarks, more corporate earnings

U.S. stocks were mostly lower Friday as investors assessed more corporate earnings and hawkish comments from Federal Reserve Chair Jerome Powell that hinted a half-point rate hike was likely next month.

The S&P 500 dipped 0.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, on pace to round out a third straight week of losses, while the Dow Jones Industrial Average fell 170 points. The tech-heavy Nasdaq Composite climbed slightly, up 0.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. Meanwhile, Treasury yields continued their march forward, with the 10-year U.S. benchmark yielding 2.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, the highest level since December 2018.

Speaking at a panel hosted by the International Monetary Fund Thursday, Powell said a 50-basis point rate increase was “on the table” for May when the U.S. central bank holds its next policy-setting meeting. The Fed chair also reiterated that policymakers were committed to “front-end loading” inflation-fighting efforts.

“We really are committed to using our tools to get 2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} inflation back,” Powell said in remarks before European Central Bank President Christine Lagarde and other officials, referring to the Fed’s target for annual price increases.

“We’re definitely in the cards for a 50 basis point rate hike in the May meeting,” Capital2Market President Keith Bliss said on Yahoo Finance Live on Thursday (video above). “The market is pretty good at dictating, if not indicating, where this is going to go.”

With the headline Consumer Price Index at its highest level in four decades, the U.S. Federal Reserve has recently signaled aggressive monetary tightening is underway to rein in rising price levels despite warnings from experts that moving too quickly could result in an economic contraction.

“The big question is whether the earnings can really sustain this kind of a macro backdrop of slower growth and Fed policy,” Deutsche Bank Wealth Management Chief Investment Officer Deepak Puri said on Yahoo Finance Live earlier this week. “It seems certain companies can — historically that’s been the case. What’s different this time is really the trifecta, which is higher costs of capital, quantitative tightening, plus a lack of … a big fiscal stimulus.”

Despite worries from Wall Street over the next policy moves and the risks posed to traders, a readout of the Federal Reserve’s recently published Beige Book suggests Main Street sentiment remains positive overall.

Strategists at LPL Research said the Beige Book Barometer may provide a more accurate picture of the economic outlook than current consumer sentiment, which has been weak in the face of soaring inflation. Despite an economic slowdown in the first quarter, data out of Washington has come in better than consensus expectations in recent weeks.

“Looking at the Fed’s most recent Beige Book, local U.S. businesses remain resilient despite elevated uncertainty,” LPL Financial Asset Allocation Strategist Barry Gilbert said. “Inflation, COVID, and the conflict in Ukraine will keep uncertainty elevated in the near term, but if we can navigate these challenges we believe there are solid prospects of a pick-up in growth in the second half of the year.”

Elsewhere in markets, shares of American Express (AXP) fell 1.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} despite a beat on its quarterly earnings in results out Friday morning. Shares of Verizon (VZ), which also reported before the opening bell, tumbled 6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} after the telecommunications giant said it lost 36,000 monthly phone subscribers during the first quarter.

Investors continued to watch Snap Inc. (SNAP) after the company projected a strong outlook for user growth on Thursday despite warning supply-chain disruptions and inflation could continue to hurt advertising demand. Shares of Snap were up about 0.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in early trading.

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10:03 a.m. ET: U.S. business activity decelerates in April

Business activity across the U.S. eased in April, with inflationary pressures putting a dent in service sector output as rising prices weighed on spending.

S&P Global’s Flash Composite Purchasing Managers’ Index, which serves as a measure of overall economic health, fell to a reading of 55.1 this month from 57.7 in March. Economists surveyed by Bloomberg expected a reading of 57.9. Any reading above 50 indicates growth in the private sector.

“Many businesses continue to report a tailwind of pent up demand from the pandemic, but companies are also facing mounting challenges from rising inflation and the cost of living squeeze, as well as persistent supply chain delays and labor constraints,” S&P Global chief business economist Chris Williamson said in a statement.

“These headwinds, plus increased concerns over the economic outlook and tightening monetary policy, meant business confidence about the outlook slipped sharply lower in April. However, with the overall pace of economic growth and hiring remaining relatively solid, for now the focus from a policy perspective is likely to remain firmly on the need to rein in the record high inflationary pressures signaled by the survey.”

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9:30 a.m. ET: Stocks extend losses after Powell rate comments spook investors

Here’s where the main benchmarks opened at the start of Friday’s trading session:

S&P 500 (^GSPC): -15.81 (-0.36{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 4,377.85
Dow (^DJI): -229.65 (-0.66{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 34,563.11
Nasdaq (^IXIC): +0.85 (+0.01{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 13,175.50
Crude (CL=F): -$2.01 (-1.94{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $101.78 a barrel
Gold (GC=F): -$13.10 (-0.67{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,935.10 per ounce
10-year Treasury (^TNX): +1.1 bps to yield 2.9280{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

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7:00 a.m. ET: Futures edge lower as S&P 500 sets out for another losing week

Here were the main moves in futures trading ahead of the opening bell Friday:

S&P 500 futures (ES=F): -12.75 (-0.29{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 4,377.75
Dow futures (YM=F): -95.00 (-0.27{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 34,614.00
Nasdaq futures (NQ=F): -39.75 (-0.29{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 13,688.50
Crude (CL=F): -$1.48 (-1.43{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $102.31 a barrel
Gold (GC=F): -$12.10 (-0.62{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,936.10 per ounce
10-year Treasury (^TNX): 0.00 bps (0.00{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to yield 2.9170{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

—

6:53 p.m. ET Thursday: Stock futures muted after hawkish Powell remarks sent indexes tumbling

Here’s where stocks were trading ahead of the overnight session on Thursday:

S&P 500 futures (ES=F): -1.50 (-0.03{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 4,389
Dow futures (YM=F): -3.00 (-0.01{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 34,706
Nasdaq futures (NQ=F): -4.75 (-0.03{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 13,723.50
Crude (CL=F): -$0.03 (-0.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $103.76 a barrel
Gold (GC=F): +$4.60 (+0.24{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,952.80 per ounce
10-year Treasury (^TNX): +0.077 bps (+2.71{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to yield 2.9170{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2022. REUTERS/Brendan McDermid

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Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

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April 20, 2022

National Bank Financial Analysts Reduce Earnings Estimates for Taseko Mines Limited (NYSEAMERICAN:TGB)

Taseko Mines Limited (NYSEAMERICAN:TGB – Get Ranking) (TSE:TKO) – Exploration analysts at Nationwide Lender Monetary reduced their Q1 2022 earnings for each share estimates for shares of Taseko Mines in a research be aware issued to investors on Monday, April 18th. National Bank Economic analyst S. Nagle now anticipates that the mining company will put up earnings for each share of $.05 for the quarter, down from their former estimate of $.06.

Other analysts have also recently issued research reviews about the stock. Stifel Nicolaus lifted shares of Taseko Mines from a “hold” score to a “buy” score in a research take note on Tuesday. Scotiabank boosted their target price on shares of Taseko Mines from C$2.75 to C$3.00 in a investigation note on Wednesday, April 13th. Zacks Financial commitment Investigate raised shares of Taseko Mines from a “hold” ranking to a “buy” ranking and established a $2.50 concentrate on price tag for the firm in a investigate notice on Wednesday, April 13th. Lastly, Panmure Gordon raised shares of Taseko Mines from a “hold” rating to a “buy” score and set a $3.38 goal selling price for the corporation in a analysis take note on Thursday, March 10th. A single analyst has rated the inventory with a promote rating, two have assigned a hold rating and 4 have provided a invest in score to the company’s inventory. In accordance to MarketBeat.com, the business at the moment has a consensus score of “Hold” and an common value concentrate on of $3.27.

TGB inventory opened at $2.25 on Wednesday. The inventory has a industry cap of $643.45 million, a PE ratio of 22.50 and a beta of 2.21. The company has a personal debt-to-equity ratio of 1.43, a present-day ratio of 3.26 and a quick ratio of 2.49. Taseko Mines has a 52 week minimal of $1.49 and a 52 week significant of $2.67.

Taseko Mines (NYSEAMERICAN:TGB – Get Ranking) (TSE:TKO) previous released its earnings benefits on Tuesday, February 22nd. The mining company reported $.04 EPS for the quarter, hitting analysts’ consensus estimates of $.04. The small business had profits of $81.69 million all through the quarter. Taseko Mines had a net margin of 8.46{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a return on equity of 13.48{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

Institutional traders and hedge resources have not too long ago acquired and sold shares of the stock. Cambridge Expense Study Advisors Inc. obtained a new situation in Taseko Mines in the 4th quarter valued at about $30,000. Toronto Dominion Financial institution obtained a new posture in Taseko Mines in the 3rd quarter valued at about $38,000. JustInvest LLC acquired a new placement in Taseko Mines in the 4th quarter valued at about $42,000. Morling Financial Advisors LLC acquired a new posture in Taseko Mines in the 4th quarter valued at about $45,000. Finally, Stonebridge Cash Advisors LLC boosted its holdings in Taseko Mines by 200.{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 4th quarter. Stonebridge Capital Advisors LLC now owns 30,000 shares of the mining company’s stock valued at $62,000 right after getting an added 20,000 shares all through the very last quarter. Hedge money and other institutional buyers have 20.95{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s inventory.

About Taseko Mines (Get Ranking)

Taseko Mines Constrained, a mining business, acquires, develops, and operates mineral attributes. The firm explores for copper, molybdenum, gold, niobium, and silver deposits. It holds 75{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} fascination in the Gibraltar mine found in British Columbia. It also retains 100{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} curiosity in Yellowhead copper task, the Aley niobium challenge, and the New Prosperity gold and copper task positioned in British Columbia and the Florence copper undertaking positioned in Arizona.

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April 20, 2022

Stocks open higher as investors weigh earnings; Netflix slides

U.S. stocks traded mixed Wednesday as investors took in a host of quarterly earnings results and looked ahead to more data.

The S&P 500 and Dow gained to extend advances from the previous session. The tech-heavy Nasdaq Composite declined as Netflix (NFLX) shares slumped after the company posting an unexpected decline in quarterly subscriber numbers.

Netflix’s disappointing results and guidance came in the midst of an earnings season that has so far been mixed. Earlier Tuesday, Hasbro (HAS) shares gained after the company raised its margin guidance and announced new price increases to counter rising costs. Other closely watched companies missed on major metrics or guidance, however, with Lockheed Martin (LMT) posting a year-over-year revenue decline that sent shares lower following its Tuesday report, and Johnson & Johnson (JNJ) cutting its full-year profit forecast.

And last week, the big banks posted tepid quarterly results, with financials posting their weakest start to an earnings season since the first quarter of 2020, according to Bank of America data. Just over one-third of the 11 financial names that reported results in the past week topped analyst estimates on both sales and earnings per share, analysts at Bank of America said in a note.

Overall, investors this earnings season have been closely attuned to how companies have performed in the face of rampant inflationary pressures, as prices rise at their fastest rates in 40 years. While many companies have opted to raise their own prices to help offset increasingly expensive commodities, transportation and other inputs, questions remain over how long consumers will be willing to continue paying passed-on costs.

And against this backdrop, many strategists are warnings investors to continue bracing for further volatility.

“Volatility works both ways,” said Steve Sosnick, Interactive Brokers chief strategist, told Yahoo Finance Live. He added that Tuesday’s marked move to the upside was simply “socially acceptable volatility.”

“It’s volatility in the right direction,” he said. “But we’re going to have to get used to bigger moves in both directions. And not only single day moves, but sort of multi-day runs.”

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10:00 a.m. ET: Existing home sales dip in back-to-back month

Sales of previously owned homes fell for a second consecutive month in the U.S. in March, with signs of cooling housing market activity mounting as home prices remain elevated and interest rates creep higher.

U.S. existing home sales fell by 2.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in March to reach a seasonally adjusted annualized rate of 5.77 million, according to the National Association of Realtors. February existing home sales were also downwardly revised to 5.93 million, compared to the 6.02 million previously reported.

The median price for an existing home in the U.S. in March jumped 15{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} over last year to reach $375,300.

“Home prices have consistently moved upward as supply remains tight,” Lawrence Yun, chief economist at the National Association of Realtors, said in a press statement. “However, sellers should not expect the easy-profit gains and should look for multiple offers to fade as demand continues to subside.”

—

9:42 a.m. ET: Mortgage applications fall for sixth straight week as rates rise

Mortgage applications across the U.S. declined for a sixth consecutive week as rising interest rates deterred homeowners from refinancing and some new buyers from entering the market. Last week, the average 30-year fixed mortgage rate rose to reach 5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

The Mortgage Bankers Association’s weekly index showed mortgage loan application volume fell 5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} week-on-week during the period ended April 15. This came following a 1.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} decline during the previous week.

Refinances were down by 8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from the previous week and slid 68{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} versus the comparable week last year. Meanwhile, purchases were down 3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from a week earlier. On a seasonally unadjusted basis, purchases were also down by 14{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} over last year.

“The recent surge in mortgage rates has shut most borrowers out of rate/term refinances, causing the refinance index to fall for the sixth consecutive week,” Joel Kan, MBA associate vice president of economic and industry forecasting, said in a press statement Wednesday. “In a housing market facing affordability challenges and low inventory, higher rates are causing a pullback or delay in home purchase demand as well. Home purchase activity has been volatile in recent weeks and has yet to see the typical pick up for this time of the year.”

—

9:30 a.m. ET: Stocks open higher

Here’s where markets were trading shortly after the opening bell Wednesday morning:

S&P 500 (^GSPC): +24.30 (+0.54{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 4,486.51
Dow (^DJI): +269.29 (+0.77{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 35,180.49
Nasdaq (^IXIC): +39.37 (+0.29{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 13,658.39
Crude (CL=F): +$0.68 (+0.66{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $103.24 a barrel
Gold (GC=F): -$10.70 (-0.55{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,948.30 per ounce
10-year Treasury (^TNX): -2.5 bps to yield 2.89{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

—

9:06 a.m. ET: Procter and Gamble shares rise after sales guidance tops estimates, as price hikes help offset rising costs

Shares of Procter & Gamble (PG) rose Wednesday morning after the consumer staples giant posted fiscal third-quarter results and full-year guidance that exceeded Wall Street’s estimates. The results appeared to affirm that Procter & Gamble’s last round of price hikes announced earlier this year were helping boost sales and counteract some of the impact of rising input costs.

For the third quarter, net sales came in at $19.38 billion, topping estimates for $18.73 billion, according to Bloomberg consensus data. This revenue beat was in turn led by fabric and home care segment sales of $6.7 billion, which includes brands like Tide and Downy. Company-wide organic revenue grew 10{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, or well above the 6.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} rise anticipated.

P&G also said it saw full-year organic revenue rising between 6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and 7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, or better than the 5.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} increase anticipated. The company still sees its core earnings per share coming in at as much as $6.00 for the full fiscal year.

—

7:06 a.m. ET: Stock futures head for mixed open

Here were the major moves in markets Wednesday morning:

S&P 500 (^GSPC): +3.75 (+0.08{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 4,463.00
Dow (^DJI): +63 (+0.18{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 34,904.00
Nasdaq (^IXIC): -9.75 (-0.07{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 14,207.5
Crude (CL=F): +$0.73 (+0.71{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $103.29 a barrel
Gold (GC=F): -$3.90 (-0.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,955.10 per ounce
10-year Treasury (^TNX): -5 bps to yield 2.865{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

—

6:12 p.m. ET: Stock futures open lower

Here’s where stocks were trading Tuesday evening:

S&P 500 futures (ES=F): -18.5 points (-0.41{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 4,440.75
Dow futures (YM=F): -59 points (-0.17{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 34,782.00
Nasdaq futures (NQ=F): -124 points (-0.87{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 14,093.25

NEW YORK, NEW YORK - APRIL 12: Traders work on the floor of the New York Stock Exchange during morning trading on April 12, 2022 in New York City. Data released this morning showed that inflation rose 8.5 percent in March, the highest annual increase since December 1981, amid energy prices soaring due to Russia's war in Ukraine. (Photo by Michael M. Santiago/Getty Images) — NEW YORK, NEW YORK – APRIL 12: Traders work on the floor of the New York Stock Exchange during morning trading on April 12, 2022 in New York City. Data released this morning showed that inflation rose 8.5 percent in March, the highest annual increase since December 1981, amid energy prices soaring due to Russia’s war in Ukraine. (Photo by Michael M. Santiago/Getty Images)

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Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter.

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