Mixed Q3 earnings and forward guidance shaping investor sentiment
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Ford Misses Guidance Amid Supply Chain Pressures
Mixed Q3 Earnings and Forward Guidance Shaping Investor Sentiment
Ford (F) delivered a modest Q3, beating adjusted EPS expectations at 49 cents on $43.07 billion in revenue. However, challenges like rising warranty costs and ongoing supply chain issues have pushed Ford to the lower end of its EBIT guidance, from $10 billion to $12 billion. With automotive revenue holding strong, Ford’s supply chain resilience will be key for Q4.
McDonald’s Revenue Rises Despite E. Coli Concerns
McDonald’s (MCD) managed a 3% revenue uptick in Q3, fueled by value-focused promotions. Yet, net income dropped 3%, with an E. coli outbreak slightly impacting U.S. traffic. While same-store U.S. sales climbed 0.3%, global sales declined by 1.5%, pointing to some overseas challenges. The company’s targeted promotions may continue supporting domestic growth despite lingering health concerns.
BP Faces Lower Crude Prices but Holds on Dividends
BP (BP) reported its lowest quarterly earnings in nearly four years, at $2.3 billion. Lower crude prices and refining margins have hit profits, though BP’s performance exceeded estimates of $2.1 billion. Maintaining dividends and announcing a $1.75 billion buyback indicate BP’s shareholder-friendly stance, though market sentiment remains cautious as shares dipped 2.5% amid future profitability concerns.
Pfizer Boosts COVID-Related Forecasts as Paxlovid Shines
Pfizer (PFE) outpaced expectations in Q3, with $2.3 billion in Paxlovid sales that surpassed estimates of $456 million, pushing its 2024 COVID product revenue target to $10.5 billion. With adjusted EPS of $1.06 over a forecasted 62 cents, Pfizer’s strong performance in the COVID space has garnered pre-market interest, with shares up 1.5%.
PayPal Misses Revenue but Surpasses EPS
PayPal (PYPL) slightly missed revenue estimates at $7.85 billion, but beat EPS expectations with $1.20 per share. Total payment volume grew 9% to $422.6 billion, reflecting steady user engagement. However, subdued Q4 guidance for low single-digit growth has left some analysts skeptical about the stock’s immediate trajectory.
Novartis Raises Guidance Again Amid Generic Competition Concerns
Novartis (NVS) increased its 2024 profit guidance for the third time, with expectations for high-teens growth driven by strong drug performance. Yet, shares fell 3.5%, with investors cautious about looming generic competition that may curb long-term profitability.
Mixed Q3 Earnings and Forward Guidance Shaping Investor Sentiment
Ford (F) delivered a modest Q3, beating adjusted EPS expectations at 49 cents on $43.07 billion in revenue. However, challenges like rising warranty costs and ongoing supply chain issues have pushed Ford to the lower end of its EBIT guidance, from $10 billion to $12 billion. With automotive revenue holding strong, Ford’s supply chain resilience will be key for Q4.
McDonald’s Revenue Rises Despite E. Coli Concerns
McDonald’s (MCD) managed a 3% revenue uptick in Q3, fueled by value-focused promotions. Yet, net income dropped 3%, with an E. coli outbreak slightly impacting U.S. traffic. While same-store U.S. sales climbed 0.3%, global sales declined by 1.5%, pointing to some overseas challenges. The company’s targeted promotions may continue supporting domestic growth despite lingering health concerns.
BP Faces Lower Crude Prices but Holds on Dividends
BP (BP) reported its lowest quarterly earnings in nearly four years, at $2.3 billion. Lower crude prices and refining margins have hit profits, though BP’s performance exceeded estimates of $2.1 billion. Maintaining dividends and announcing a $1.75 billion buyback indicate BP’s shareholder-friendly stance, though market sentiment remains cautious as shares dipped 2.5% amid future profitability concerns.
Pfizer Boosts COVID-Related Forecasts as Paxlovid Shines
Pfizer (PFE) outpaced expectations in Q3, with $2.3 billion in Paxlovid sales that surpassed estimates of $456 million, pushing its 2024 COVID product revenue target to $10.5 billion. With adjusted EPS of $1.06 over a forecasted 62 cents, Pfizer’s strong performance in the COVID space has garnered pre-market interest, with shares up 1.5%.
PayPal Misses Revenue but Surpasses EPS
PayPal (PYPL) slightly missed revenue estimates at $7.85 billion, but beat EPS expectations with $1.20 per share. Total payment volume grew 9% to $422.6 billion, reflecting steady user engagement. However, subdued Q4 guidance for low single-digit growth has left some analysts skeptical about the stock’s immediate trajectory.
Novartis Raises Guidance Again Amid Generic Competition Concerns
Novartis (NVS) increased its 2024 profit guidance for the third time, with expectations for high-teens growth driven by strong drug performance. Yet, shares fell 3.5%, with investors cautious about looming generic competition that may curb long-term profitability.