For Immediate Release
Chicago, IL – May 01, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include JPMorgan Chase & Co. (NYSE: JPM – Free Report ), 3M Company (NYSE: MMM – Free Report ), Boeing Company (NYSE: BA – Free Report ), Coca-Cola Company (NYSE: KO – Free Report ) and DuPont (NYSE: DD – Free Report ).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free .
Here are highlights from Friday’s Analyst Blog:
Dow 30 Stock Roundup
The index increased significantly over the week following strong gains during the first two trading sessions. The index surged on Monday following the victory of centrist candidate Emmanuel Macron in the first round of the French presidential election.
The index advanced by an identical margin on Tuesday, following the release of strong earnings reports and as expectation for possible tax reform grew. The Dow slipped on Wednesday following the release of Trump's outline for tax reform and only managed to inch up on Thursday.
Last Week’s Performance
The index surged 1.1% on Monday following the victory of centrist candidate Emmanuel Macron in the first round of the French presidential election. Shares of JPMorgan Chase & Co. (NYSE: JPM – Free Report ) JPM and Goldman Sachs (GS) surged 3.5% and 2.9% respectively which boosted the Dow. Meanwhile, investors kept a close watch on quarterly earnings results with tech majors scheduled to report later in the week.
The index advanced by 232.23 points, or 1.1% on Tuesday on Tuesday, following the release of strong earnings reports and as expectation for possible tax reform grew. Earnings for the Dow were particularly strong, with four of its five components exceeding expectations. The Nasdaq closed above 6,000 for the first time ever since its inception in 1971. Meanwhile, sales of newly-constructed homes in March increased 5.8% above its revised February rate.
The index lost 0.1% on Wednesday following the release of Trump's outline for tax reform. The plan promised to slash the top income tax rate from 39.6% to 35%. The new administration has also proposed to reduce the corporate tax rate from 35% to 15% along with an abolishment of the estate tax. Investors were disappointed as they had expected some more details about the tax-reform package. Meanwhile, market watchers kept a close watch on quarterly earnings results.
The index inched up marginally on Thursday after technology shares experienced gains. Meanwhile, energy shares experienced a notable fall following concerns over increasing U.S. production and the restart of Libya’s big Sharara oil field upset oil market watchers. Lack of details in President Donald Trump’s tax plan unveiled on Wednesday also pared some gains for the broader market.
Components Moving the Index
3M Company (NYSE:MMM – Free Report ) started 2017 on a positive note with strong first-quarter results, driven by healthy year-over-year increase in earnings and revenues. GAAP earnings for the reported quarter were $1,323 million or $2.16 per share compared with $1,275 million or $2.10 per share in the year-earlier quarter.
The reported earnings exceeded the Zacks Consensus Estimate by 9 cents. Net sales during the quarter were $7,685 million, up from $7,409 million in the year-ago quarter and surpassed the Zacks Consensus Estimate of $7,515 million.
Zacks Rank #2 (Buy) rated 3M also raised its earlier guidance for 2017. The company anticipates 2017 GAAP earnings in the range of $8.70 to $9.05 per share, up from prior projections of $8.45–$8.80. This represents year-over-year growth of 7–11%, up from 4–8% expected earlier.
The Boeing Company (NYSE:BA – Free Report ) reported adjusted earnings of $2.01 per share for first-quarter 2017, beating the Zacks Consensus Estimate of $1.91 by 5.2%. Reported earnings were also up 15.5% from the year-ago figure of $1.74. Boeing has a Zacks Rank #3 (Hold).
The company's revenues amounted to $20.98 billion in the reported quarter, missing the Zacks Consensus Estimate of $21.44 billion by 2.1%. The reported figure also declined 7.3% year over year.
Boeing’s adjusted or core earnings per share expectation for 2017 are in the range of $9.20–$9.40, up from the prior guided range of $9.10–$9.30. GAAP earnings are now projected to be in the range of $10.35–$10.55 per share compared with the previous range of $10.25–$10.45. The company still expects 2017 revenues in the range of $90.5−$92.5 billion.
The Coca-Cola Company (NYSE:KO – Free Report ) failed to meet earnings expectations in the first quarter of 2017. Earnings also decreased year over year due to higher costs related to refranchising efforts in Coca-Cola's North America bottling operations. Further, Coca-Cola's total sales fell 11%, marking the eighth consecutive quarterly decline in revenue.
First-quarter 2016 adjusted earnings of the company were 43 cents per share, shy of the Zacks Consensus Estimate of 44 cents by 2.3%. Net revenue declined 11% year over year to $9.12 billion due to currency headwinds and the negative impact of structural items.
In 2017, Zacks Rank #3 rated Coca-Cola expects organic revenues to rise 3%.The company expects adjusted EPS to be down 1% to 3% from the prior year’s comparable EPS of $1.91.
DuPont (NYSE:DD – Free Report ) recorded adjusted earnings of $1.64 per share in the first-quarter 2017, up 30% from $1.26 per share a year ago. The results topped the Zacks Consensus Estimate of $1.38. DuPont logged net sales of $7,743 million, up roughly 5% year over year on higher volumes and local prices. That also surpassed the Zacks Consensus Estimate of $7,539 million.
DuPont expects earnings per share (on a reported basis) for first-half 2017 of around $2.42, a decline of roughly 5% from the prior year. The stock has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free .
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J P Morgan Chase & Co (JPM): Free Stock Analysis Report
3M Company (MMM): Free Stock Analysis Report
Boeing Company (The) (BA): Free Stock Analysis Report
Coca-Cola Company (The) (KO): Free Stock Analysis Report
E.I. du Pont de Nemours and Company (DD): Free Stock Analysis Report
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