Stock futures higher | Qualcomm shares surge | Netflix dropsApril 17, 2019
IBM (IBM) beat Wall Street forecasts by three cents with adjusted quarterly profit of $2.25 per share, but revenue fell slightly short of analyst forecasts. IBM also forecast 2019 revenue below expectations, with pressure coming from weaker mainframe computer demand and a stronger dollar.
United Continental (UAL) came in 20 cents above estimates with adjusted quarterly profit of $1.15 per share, though the airline’s revenue came in below forecasts. United also trimmed its planned flight capacity forecast for the year, due in part to the grounding of Boeing’s (BA) 737 MAX aircraft.
CSX (CSX) reported quarterly profit of $1.02 per share, 11 cents above estimates, while the rail operator’s revenue was essentially in line with forecasts. Results were helped by higher prices and lower labor and fuel costs.
Ericsson (ERIC) reported better than expected profit and sales for the first quarter, with the telecom equipment maker seeing particularly strong growth in the North American market.
Boeing (BA) is being pushed by proxy advisory firms ISS and Glass Lewis to separate the roles of chairman and CEO, following two fatal crashes involving the company’s 737 MAX aircraft.
Tiffany (TIF) was rated “outperform” in new coverage at Bernstein, which is encouraged by the direction taken by the luxury goods retailer’s new CEO and senior management team.
Source of this (above) article: https://www.cnbc.com/2019/04/17/what-you-need-to-know-in-business-news-today.html