FinancialInsiders.com Earnings Recap Week Ending October 6th, 2017
NEW YORK, October 6, 2017 /PRNewswire/ --
U.S. equities rose to another record on Thursday, boosted by strong economic data. The Dow Jones Industrial average rose 0.50 percent, or 113.75 points, to 22,775.39 on Thursday and hit a new all-time high during the trading session. It also posted an eight-day winning streak, the longest since 2013. The S&P 500 also hit new all-time and closed 0.56 percent higher at 2,552.07. NASDAQ composite Index gained 0.78 percent to 6585.36. Strong economic data supported the momentum in the stock market. U.S. jobless claims fell by 12,000 to 260,000, the Labor Department said on Thursday. The trade deficit narrowed to $42.4 billion in August due to increasing exports of goods and services. Paychex, Inc. (NASDAQ: PAYX), Advanced Micro Devices, Inc. (NASDAQ: AMD), Constellation Brands, Inc. (NYSE: STZ), Monsanto Company (NYSE: MON), PepsiCo, Inc. (NYSE: PEP).
Investors are closely watching the monthly employment report on Friday and the upcoming third-quarter earnings season. Randy Frederick, Vice President of trading and derivatives at Charles Schwab said in a CNBC report: "The economic backdrop is very strong. We had multi-year highs on both ISM numbers and the impact from the hurricanes on the overall economy seems to be smaller than expected. When the stream of economic data is strong, the impact from events like hurricanes tends to be smaller."
Paychex, Inc. (NASDAQ: PAYX) shares jumped more than 3% Tuesday after the provider of integrated human capital management (HCM) solutions announced total service revenue of $803.1 million for the three months ended August 31, 2017, an increase of 4% from $773.5 million for the same period last year. Net income and diluted earnings per share each increased 5% to $227.8 million and $0.63 per share, respectively, for the first quarter. Adjusted net income increased 9% to $222.8 million and adjusted diluted earnings per share increased 11% to $0.62 per share for the first quarter. Martin Mucci, President and Chief Executive Officer, commented, "We posted solid growth across our major human capital management ('HCM') product lines in the first quarter, in particular our comprehensive human resource ('HR') outsourcing solutions and our cloud-based time and attendance products continue to perform well."
Advanced Micro Devices, Inc. (NASDAQ: AMD) shares jumped about 6% Tuesday after the company announced the AMD Embedded Radeon(TM) E9170 Series graphics processing unit (GPU). The new processor is the first 'Polaris' architecture-based AMD Embedded discrete GPU available in multi-chip module (MCM) format with integrated memory for smaller, power-efficient custom designs, as well as PCI Express(R) and MXM formats for standard form factor systems. "Developers are continuing to push the boundaries on what's possible for embedded systems, demanding more performance, more features and more design options, all while significantly reducing power consumption. At the GPU level, it is critical to provide versatile solutions that do not compromise on graphics performance or 4K multi-display capabilities," said Colin Cureton, Director of Product Management, AMD Enterprise Solutions.
Constellation Brands, Inc. (NYSE: STZ) shares jumped about 4% on Thursday after the provider of agricultural products for farmers reported 2nd quarter 2018 earnings. STZ reported basis EPS of $2.48 and comparable basis EPS of $2.47, an increase of 42% and 40%, respectively. The company generated $1.1 billion of operating cash flow and $598 million of free cash flow. STZ also increased fiscal 2018 reported basis EPS outlook to $7.90 - $8.05 and comparable basis EPS outlook to $8.25 - $8.40; which is driven primarily by strong beer business results. The company Affirms fiscal 2018 operating cash flow target of approximately $2.0 billion.
Monsanto Company (NYSE: MON) reported 4th quarter earnings this Wednesday, concluding the 2017 fiscal year with earnings per share (EPS) of $5.09, as compared to last year's as-reported full-year EPS of $2.99, adding that EPS is expected to grow in the first quarter of fiscal 2018. Monsanto reported quarterly net sales of $2.7 billion, and net sales for the full fiscal year of $14.6 billion. Full-year net sales were up more than $1 billion year-over-year, due primarily to record technology adoption for the newest soybean technologies across the Americas and global corn pricing. "Our record sales and gross profit in the Seeds and Genomics segment this year, fueled by the outstanding penetration of our latest soybean and cotton technologies and continued adoption of our newest corn hybrids around the world, reflects the need for new solutions in what continues to be a challenging ag economy," said Hugh Grant, Chairman and Chief Executive Officer for Monsanto.
PepsiCo, Inc. (NYSE: PEP) reported 3rd quarter earnings this Wednesday. The global food and beverage company reported net revenue increased 1.3 percent. Foreign exchange translation had a 1-percentage-point unfavorable impact on reported net revenue. Organic revenue, which excludes the impacts of foreign exchange translation and structural changes, grew 1.7 percent. Reported EPS was $1.49, a 9 percent increase from the prior-year period. Foreign exchange translation reduced reported EPS growth by 1 percentage point. "Overall, our businesses performed well in the third quarter in what continues to be a challenging environment," said Chairman and CEO Indra Nooyi. "Each of our operating sectors delivered results in line with or ahead of our expectations, with the exception of North America Beverages (NAB) where revenues declined following two consecutive years of very strong third-quarter growth. Despite the challenges in our NAB business, the PepsiCo portfolio overall generated revenue, operating profit and earnings per share growth."
Follow us on Twitter for real time Financial News Updates: https://twitter.com/FinInsiders
Follow and talk to us on Instagram: https://www.instagram.com/financialinsiders
Facebook Like us to receive live feeds: https://www.facebook.com/financialinsiders
About FinancialInsiders.com
Financialinsiders.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially-driven digital space, video production and integration of social media, FinancialInsiders.com creates 100% unique original content. FinancialInsiders.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: Financialinsiders.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.Financialinsiders.com (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), Financialinsiders.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialinsiders.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. Financialinsiders.com receives fees for producing and presenting high quality and sophisticated content on Financialinsiders.com along with other financial news PR media services. Financialinsiders.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. Financialinsiders.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, Financialinsiders.com has not been compensated for financial news dissemination and PR services by any parties. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. Financialinsiders.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialInsiders.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. Financialinsiders.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. Financialinsiders.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by Financialinsiders.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Financialinsiders.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.Financialinsiders.com .
For further information:
Media Contact:
info@Financialinsiders.com
+1-212-381-6028
SOURCE FinancialInsiders.com
