In early regular-session trading Wednesday, the Dow Jones industrials were up 0.42%, the S&P 500 up 0.74% and the Nasdaq 1.06% higher.
After U.S. markets closed on Wednesday, Meta Platforms beat top-line and bottom-line estimates as revenue bounced to year-over-year growth after three consecutive quarters of year-over-year declines. Advertising revenue growth, alongside thousands of previously announced job cuts, offers investors a potent combination for profit growth going forward. Shares traded up 14.7% early Thursday.
Antero Resources beat Wall Street’s consensus earnings per share (EPS) and revenue estimates. Shares traded down about 3.6%.
EQT also beat top-line and bottom-line estimates, but revenue fell by 26% year over year. Shares traded up 7.8%.
Before markets opened on Thursday, AbbVie missed consensus estimates on both the top and bottom lines and issued in-line guidance for fiscal 2023 EPS. Shares traded down 6.7%.
Altria matched its expected EPS number but missed on revenue. First-quarter revenue dropped 1.2% year over year. Shares traded down 2.5%.
American Airlines exceeded analysts’ consensus EPS estimate but fell short on revenue. Year over year, revenue increased by 37%. Shares traded up 3.2%.
Merck beat estimates on both the top and bottom lines. The pharmaceutical firm issued fiscal-year earnings and revenue guidance that were in line with analysts’ estimates. Shares traded up 0.4%.
Caterpillar also beat estimates on the top and bottom lines, and revenue increased by nearly 17% year over year. Shares traded down about 4.1%.
Newmont missed the consensus revenue estimate but beat the EPS forecast by 20%. Shares traded up 0.2%.
Peabody Energy topped consensus estimates for both EPS and revenue. The coal miner announced a $1 billion share buyback program and said it completed prefunding of all its closure and reclamation obligations. Shares traded up 0.8% Thursday morning.
After markets close on Thursday, Amazon, First Solar, Intel and T-Mobile will report quarterly results. Then, Chevron, Exxon Mobil and U.S. Steel are on deck to report quarterly results the following morning.
Here are previews of three companies set to report results first thing Monday morning.
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