Новини

Tuesday, April 16th, 2024

Market indices fluctuated today. The S&P 500 and Nasdaq were in-line throughout the day, right around breakeven (-0.21% and -0.12%, respectively). The Dow stayed in the green for all but a few minutes on the session, finishing +0.17%. The Russell 2000 only spent a moment out of negative territory today, reaching the closing bell at -0.42%. Fed Chair Jerome Powell’s comments today solidified that monetary policy is seriously considering delaying its first rate cut until economic reports warrant it.

Today’s Housing Starts data was a step in the right direction. They moved lower than analysts were expecting, though Building Permits — a forward look on future Starts — while still down, have been flatlining just under 1.5 million seasonally adjusted, annualized units for the past year and a half. Healthcare led the way during the regular session, riding UnitedHealthcare’s UNH better-than-expected quarter, which helped bring its shares off multi-year lows today.

United Airlines UAL came out with its Q1 report after today’s closing bell, with a slimmer-than-expected loss on its bottom line — -$0.15 per share versus -$0.53 in the Zacks consensus — matching a top-line revenue beat: $12.54 million versus $12.43 billion anticipated. Next-quarter earnings guidance is raised higher than the median estimate, while full-year earnings forecasts are in-line with current estimates. Revenue per Available Seat Mile was up for the quarter. Shares are up +5% in late trading.

Interactive Brokers IBKR also slightly outpaced expectations in its Q1 report after today’s close. Earnings of $1.64 per share surpassed consensus by a penny, while quarterly sales rose from $1.19 billion expected to $1.22 billion actualized. The Zacks Rank #1 (Strong Buy)-rated brokerage platform increased its cash dividend yield from 10 cents to 25 cents per share. The company’s Daily Active Revenue Trade grew by +14% in the quarter.

Transportation major J.B. Hunt JBHT, on the other hand, missed expectations on both top and bottom lines — earnings of $1.22 per share was short of the $1.53 estimate (and well off the year-ago pace of $1.89 per share), while revenues of $2.94 billion couldn’t reach the $3.12 billion in the Zacks consensus. This makes six straight quarters of earnings misses for the Zacks Rank #4 (Sell)-rated company. Shares have fallen -5.5% on the news in the late session, now down more than -6% year to date.

Wednesday morning brings us more Q1 earnings reports, including from Abbott Labs ABT and U.S. Bancorp USB, but no economic prints until the new Beige Book comes out tomorrow afternoon at 2pm. On Thursday, we get our first “FANG” stock of this earnings season, when Netflix NFLX numbers hit the tape. Procter & Gamble PG and American Express AXP report earnings Friday morning.

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