Earnings overview - JPMorgan Chase, BlackRock, Wipro, Delta Airlines 💰
Thursday, 14th October 2021 by Gotrade
Hey Gotraders,
3rd quarter earnings season has begun! Let’s take a look at some of the companies that released earnings yesterday.
💰 JPMorgan Chase (JPM) - JP Morgan beat analysts’ expectations on both earnings and revenue. Well done! They reported earnings of $3.74 per share on $30.44 billion revenue vs analysts’ expectations of $3 per share on $29.8 billion revenue.
Shares closed at $161, down 2.64% for the day. Shares are up 0.71% in extended trading at the time of writing.
💰 BlackRock (BLK) - This was a fantastic quarter for them! They reported earnings of $10.95 per share on $5.05 billion revenue vs analysts’ expectations of $9.35 per share on $4.9 billion revenue.
Shares closed up 3.78% for the day.
💰 Wipro (WIT) - Shares are up after the company reported earnings. Wipro reported a 17% year-on-year jump in consolidated net profit, and a 30% jump in consolidated revenue.
Shares are up over 2.4% in extended trading at the time of writing.
💰 Delta Airlines (DAL) - Delta beat analysts’ expectations on both earnings and revenue. They reported earnings of $0.30 per share on $9.15 billion revenue vs analysts’ expectations of $0.17 per share on $8.4 billion revenue. This is their first profitable quarter without taking federal aid into consideration. Delta did warn that its fourth-quarter earnings will take a hit due to rising fuel costs and other expenses.
Shares closed at $41.03, down 5.76% for the day.
Why is this important? Stocks may fluctuate and experience volatility during the time leading up to earnings report day. Speculative commentary and opinions prior to an earnings report may also cause a stock to fluctuate greatly.
This volatility can serve as a great opportunity for investors to tap on.. 😉
Better-than-expected figures could cause a company’s stock to greatly increase in value, while a disappointing earnings report may have the opposite effect… Invest wisely!
📉 Analyst at Morgan Stanley thinks that you should buy the dip on Apple amidst supply chain concerns 🛒
Shares of Apple (AAPL) slipped after Bloomberg published an article saying that Apple would cut its production due to the semiconductor chip shortage.
Should you be rushing to dump your Apple shares? No way, Jose!
Top tech analyst Katy Huberty from Morgan Stanley (MS) thinks that investors should look past any supply chain issues and take advantage of Apple’s upside. She remains bullish on Apple despite slight production delays.
“We are buyers of any near-term AAPL share price weakness on iPhone supply chain disruption given AAPL is likely to receive more supply than competitors, demand isn’t perishable, and our FY22 estimates are unlikely to change materially even if revenue and EPS shift across quarters” - Katy Huberty.
Shares of Apple closed at $140.91, down 0.42% for the day.
📈 Morgan Stanley upgrades Plug Power ✅
Morgan Stanley (MS) has upgraded Plug Power (PLUG) from “equal weight” to “overweight” and raised its price target on the stock to $40 per share. They believe that Plug Power stands to benefit as the U.S. transitions to clean energy.
“With the announcement of several strategic partnerships, ~$4bn of cash and cash equivalents on its balance sheet, accelerating revenue growth, and the potential for significant upside from legislative support, we believe PLUG is particularly well-positioned at the outset of a significant transition point in energy” - Morgan Stanley.
Plug Power closed at $33.59, up 12.79% for the day.
Top movers & shakers 🎢
What else is making headline news 📰
Video: Financials and energy stocks are cheap: Oakmark’s Nygren.
Video: How BlackRock (BLK) became the world’s largest asset manager.
Cramer says PayPal (PYPL) and SoFi (SOFI) are buys. Here’s how he would play other fintech leaders.
Johnson&Johnson (JNJ) Covid vaccine recipients are better off getting Pfizer (PFE) or Moderna (MRNA) booster, NIH study suggests.
Popular companies releasing earnings this week 💰
Thursday: United Health (UNH), Bank of America (BAC), Wells Fargo (WFC), Morgan Stanley (MS), Citibank (C), U.S. Bancorp (USB), Walgreens Boots Alliance (WBA), Domino's Pizza (DPZ)
Friday: J.B. Hunt Transport (JBHT), Prologis (PLD), PNC Financial (PNC), Truist (TFC), Goldman Sachs (GS)
A company’s market value may fluctuate considerably around the time that the earnings report is expected to be published. Stock prices may rise or fall according to analysts' speculative estimates, released prior to the actual earnings announcement.
The earnings season can be a time of great opportunity since better-than-expected figures could cause a company’s stock to greatly increase in value. Worse-than-expected results could have the opposite effect.
That’s all from us for now.
Signing out,
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The legal stuff 🤓
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