Well, well, well, looks like someone’s on a roll! CSX reported earnings of 48 cents per share for the latest quarter, beating Refinitiv’s estimate of 43 cents per share. And hold on to your Wall Street hats, revenue of $3.71 billion also exceeded expectations. Who’s laughing now, Refinitiv?
Let’s dive right into the pool news. Shares of the pool company went swimmingly up by over 3% after Stephens upgraded the stock to overweight from equal weight. According to Stephens, the stock has an “attractive entry point” and is a “best-in-class, high quality compounder.” Looks like someone’s diving into success, don’t you think?
Next up, oh snap! Procter & Gamble’s stock rallied by nearly 4% after posting earnings and revenue for its fiscal third quarter that beat analysts’ expectations. The consumer goods giant even raised its forecast for organic sales growth, talk about hitting it out of the park. Looks like they cleaned up with those earnings!
HCA Healthcare’s shares were up 4.9% after they reported an earnings and revenue beat for the first quarter. The healthcare services company really exceeded expectations with earnings per share of $4.85 and $15.59 billion in revenue, leaving analysts surprised with their $4.14 earnings per share and revenue of $15.27 billion, according to FactSet. Way to beat the analysts at their own game, HCA Healthcare!
Hold up, United Health Services’ stock rose by 3.5% after Cantor Fitzgerald initiated an underweight rating. The firm set a price target of $143, which is a 5% upside from Thursday’s close price. Shares are flat in 2023 though the stock has declined 8.6% over the past 12 months, oops! Time for them to shape up or ship out, am I right?
W R Berkeley on the other hand, didn’t do so hot. The insurance holding company’s shares tumbled by 9% after its earnings fell below analysts’ expectations. They posted GAAP earnings of $1.06 per share, whereas FactSet analysts had anticipated $1.23 earnings per share. The company’s loss ratio of 62.8% also didn’t help, as analysts had estimated it would be at 60.3%. Looks like someone’s going to have to learn to improve their poker face.
Oh no, Freeport-McMoRan’s shares fell by more than 5% Thursday. While their earnings and revenue for the first quarter topped analysts’ expectations, the company experienced extreme weather events and protests in Peru, impacting their mining volumes and supply chains. Looks like their earnings got quite the rocky start!
Regions Financial’s shares declined by 3% after posting earnings that missed analysts’ estimates. They posted 62 cents earnings per share, while analysts had expected 64 cents per share, according to FactSet. On the bright side, the bank’s revenue of $1.96 billion was in line with estimates. However, the company reported that its quarter-end deposits fell 2.5% but remained stable in March. Maybe they should stick to the piggy bank, huh?
And last but certainly not least, Albemarle’s shares fell by 6.5% after Chile announced a new public-private national lithium strategy for production in the country. Why does this matter? Albemarle is one of the two lithium operators currently in Chile. Looks like they got quite the shock from Chile, huh?
Oh wait, hold up. Our friends at SLB posted an earnings and revenue beat for the first quarter, but their stock still dropped by 4.3%. Why, you ask? Well, their revenue declined by 2% quarter over quarter and they also reported a $265 million drop in free cash flow, while analysts estimated positive free cash flow of $53.4 million, according to FactSet data. Looks like this earnings report wasn’t enough to keep their stock afloat.

Serious News: cnbc