Post-it Manufacturer 3M Sticks Landing While Ford Tanks: Biggest Beats And Misses From Earnings Season So Far
Portfolio Pulse from Hayden Buckfire
The U.S. market is in the midst of second-quarter earnings releases, with notable performances from 3M, Bristol-Myers Squibb, Ford, and Stellantis. 3M and Bristol-Myers Squibb reported strong earnings, while Ford and Stellantis missed expectations, leading to significant stock price movements.
July 30, 2024 | 6:53 pm
News sentiment analysis
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NEGATIVE IMPACT
Ford reported adjusted EPS of $0.47, missing its $0.68 estimate. Concerns over its electric vehicle strategy have led to a stock decline of over 20%.
Ford's earnings miss and ongoing concerns about its electric vehicle strategy have led to a significant decline in its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Stellantis reported a 14% year-over-year decline in net revenue and a 35% decline in adjusted EPS for the first half of 2024. The stock has declined over 14% since the report.
Stellantis's significant declines in net revenue and adjusted EPS have negatively impacted its stock price, reflecting investor concerns.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Bristol-Myers Squibb reported an adjusted EPS of $2.07, beating the consensus of $1.63, and strong revenue numbers. The stock is up nearly 9% since reporting.
Bristol-Myers Squibb's strong earnings and revenue performance have positively impacted its stock price, reflecting investor confidence.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
3M reported strong earnings, with adjusted EPS rising from $1.39 to $1.93, beating consensus estimates of $1.68. The company also raised its annual outlook.
3M's strong earnings report and raised annual outlook have led to a significant increase in its stock price, indicating positive investor sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) is influenced by the overall earnings season, with 78% of S&P 500 companies reporting positive earnings surprises and a 9.8% year-over-year earnings growth rate.
The overall positive earnings season for the S&P 500 companies is likely to have a favorable impact on the SPDR S&P 500 ETF Trust (SPY).
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50