Weaker Corporate Reality Witnessed as Government Deal Reached
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EPS Growth %: +16.2%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 3.6%
EPS Growth %: +16.2%
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Stocks are weaker early Thursday as a deal to re-open the government and raise the debt ceiling was overshadowed by disappointing corporate earnings reports.
Dow futures are down 65 points, Nasdaq futures are down 2 and S&P 500 futures are down 3.
IBM (NYSE: IBM) is down over 7 percent in early trade after reporting Q3 EPS of $3.99, $0.03 better than the analyst estimate of $3.96. However, a lower tax rate added almost $0.40. Revenue was much weaker, coming in at $23.7 billion versus the consensus estimate of $24.77 billion.
Goldman Sachs (NYSE: GS) is down nearly 3 percent after reporting Q3 EPS of $2.88, $0.41 better than the analyst estimate of $2.47. Again, revenue was the issue. Revenue for the quarter came in at $6.72 billion versus the consensus estimate of $7.36 billion. One low-light was FICC, where net revenues fell 44% from last year due to lower net revenues in mortgages and interest rate products, as well as in currencies. "The third quarter's results reflected a period of slow client activity," said Lloyd C. Blankfein, Chairman and Chief Executive Officer.
eBay (NASDAQ: EBAY) is down nearly 7 percent after reporting Q3 EPS of $0.64, $0.01 better than the analyst estimate of $0.63. Revenue for the quarter came in at $3.89 billion versus the consensus estimate of $3.9 billion. Guidance for eBay was the problem. The company sees Q413 EPS of $0.79 to $0.81 and revs of $4.5 billion to $4.6 billon, while the consensus is looking for EPS of $0.83 and revs of $4.64 billion.
Verizon (NYSE: VZ) is bucking the trend, rising over 2 percent after reporting Q3 EPS of $0.77, $0.02 better than the analyst estimate of $0.75. Revenue for the quarter came in at $30.28 billion versus the consensus estimate of $30.17 billion.
Dow futures are down 65 points, Nasdaq futures are down 2 and S&P 500 futures are down 3.
IBM (NYSE: IBM) is down over 7 percent in early trade after reporting Q3 EPS of $3.99, $0.03 better than the analyst estimate of $3.96. However, a lower tax rate added almost $0.40. Revenue was much weaker, coming in at $23.7 billion versus the consensus estimate of $24.77 billion.
Goldman Sachs (NYSE: GS) is down nearly 3 percent after reporting Q3 EPS of $2.88, $0.41 better than the analyst estimate of $2.47. Again, revenue was the issue. Revenue for the quarter came in at $6.72 billion versus the consensus estimate of $7.36 billion. One low-light was FICC, where net revenues fell 44% from last year due to lower net revenues in mortgages and interest rate products, as well as in currencies. "The third quarter's results reflected a period of slow client activity," said Lloyd C. Blankfein, Chairman and Chief Executive Officer.
eBay (NASDAQ: EBAY) is down nearly 7 percent after reporting Q3 EPS of $0.64, $0.01 better than the analyst estimate of $0.63. Revenue for the quarter came in at $3.89 billion versus the consensus estimate of $3.9 billion. Guidance for eBay was the problem. The company sees Q413 EPS of $0.79 to $0.81 and revs of $4.5 billion to $4.6 billon, while the consensus is looking for EPS of $0.83 and revs of $4.64 billion.
Verizon (NYSE: VZ) is bucking the trend, rising over 2 percent after reporting Q3 EPS of $0.77, $0.02 better than the analyst estimate of $0.75. Revenue for the quarter came in at $30.28 billion versus the consensus estimate of $30.17 billion.
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