Doreen Mogavero, president and CEO of Mogavero Lee & Co., discusses Apple Inc. (Nasdaq: AAPL), Caterpillar Inc. (NYSE: CAT) and Ford Motor Company (NYSE: F) earnings, and how the corporations are impacted by slowing growth in China and Europe.
J.C. Penney Company, Inc. (NYSE: JCP) reported a bigger-than-expected second quarter loss of $1.17 a share on $2.66 billion in revenues, compared with estimates for a second quarter loss of $1.06 a share on $2.76 billion in revenue, according analysts polled by Reuters. However, the troubled retailer did say its store sales improved from the previous quarter, and sales trends had improved every month in the quarter, sending shares higher in pre-market trade. On Tuesday, shares of J.C. Penney
Jonathan Corpina, senior managing partner with brokerage firm Meridian Equity Partners Inc., weighs in on General Motors Company (NYSE: GM), Apple Inc. (AAPL), and Caterpillar Inc. (NYSE: CAT) quarterly earnings that reveal the companies are struggling with slowing growth and demand in China and Europe.
Peter P. Costa, president of Empire Executions, Inc., discusses next week’s economic events, including earnings from The Home Depot, Inc. (NYSE: HD), Lowe's Companies, Inc. (NYSE: LOW), J.C. Penney Company, Inc. (NYSE: JCP) and more. In addition, the Federal Reserve will release minutes from the Federal Open Market Committee’s (FOMC) July meeting. Central bankers are scheduled to meet at an annual meeting in Jackson Hole, Wyoming, on August 22-24 to discuss the global economy. Economists will
Apple Inc. (NASDAQ: AAPL) fell on Wednesday, after the company disappointed with the pricing of its highly-anticipated iPhone 5C. The tech giant did not announce a deal with China Mobile overnight, as analysts had expected; however, the company has been granted a license to run its iPhone devices on China Mobile's network. Shares of Apple fell 5.84 percent to $465.61 in morning trading. Verizon Communications Inc. (NYSE: VZ) unveiled a bond sale on Wednesday, offering $49 billion worth of debt
Macy's, Inc. (NYSE: M) surprised investors on Wednesday, after the department store missed expectations and reported second quarter earnings of $281 million, or 72 cents a share, compared with earnings of $279 million, or 67 cents a share, in the year-ago quarter. Wall Street expected Macy's to report EPS of 79 cents on revenue of $6.28 billion, according to analysts polled by Reuters. Shares of Macy's, Inc. dropped 4.74 percent to $46.20 in morning trade. Deere & Company (NYSE: DE) issued a
J.C. Penney Company, Inc. (NYSE: JCP) is expected to report earnings on August 20 for the fiscal quarter ending July 2013. The consensus EPS forecast for the quarter is a loss of $1.09, compared with an EPS loss of 37 cents in the same year-ago period, according to analysts polled by Zacks Investment Research. The retailer continued to make headlines on Tuesday, after activist investor Bill Ackman resigned from JCPenney's board after days of ongoing conflict as the company tries to appoint a ne
Wal-Mart Stores Inc. (WMT) reported second quarter profit rose to $4.07 billion, or $1.24 a share, compared with $4.02 billion, or $1.18 a share, a year earlier. Revenue came in at $116.9 billion. Analysts had expected earnings of $1.25 per share on revenue of $118.09 billion. The world’s biggest retailer also issued weaker-than-expected U.S. same-store sales that slipped 0.3 percent in the second quarter, under analysts’ estimates of a 1 percent gain. The retail giant cut its revenue and pro
Hewlett-Packard Company (NYSE: HPQ) on Thursday posted earnings of $1.4 billion, or 74 cents per share, beating Wall Street expectations. Still shares were flat after the announcement. Shares of HP on Friday edged down 0.98 percent to $93.73 in morning trading. Groupon Inc. (NASDAQ: GRPN) reported fourth-quarter earnings of 4 cents per share on revenue of $768 million, topping estimates, but shares fell after the company issued guidance below Wall Street estimates, sending the stock tumbling 16
Ford Motor Company (NYSE: F) reported fiscal fourth-quarter profit rose to $3.04 billion, or 74 cents a share, from $1.60 billion, or 40 cents a share, a year earlier. Revenue increased to $37.6 billion, from $36.3 billion a year ago. Adjusted EPS came in at 31 cents a share. Wall Street had expected earnings of 28 cents a share on revenue of $34.96 billion, according to analysts polled by FactSet. On Tuesday, shares of Ford edged down 0.32 percent to $15.66 in afternoon trading. Apple Inc. (
J.C. Penney Company, Inc. (NYSE: JCP) shares edged down 0.57 percent to $6.97 in after-hours trading on Wednesday following the retailer announced it plans to cut 2,000 jobs and close 33 stores. “These actions are expected to result in an annual cost savings of approximately $65 million, beginning in 2014,” the retailer said it a statement on Wednesday. “In connection with this initiative, the Company expects to incur estimated pre-tax charges of approximately $26 million in the fourth quarter
General Motors Company (NYSE: GM) shares fell 1.41 percent to $34.24 on Monday, ahead of CEO Mary Barra's testimony to Congress about the company's vehicle recalls on Tuesday. Last week, GM expanded its recall to 2.6 million vehicles, adding 917,000 more units. In separate news, Tesla Motors Inc. (NASDAQ: TSLA) shares rose in premarket trading after the company reached an agreement with New York State and will be allowed to keep its five currently licensed retail locations. However, additional