Novosti i prognoe: tržište kapitala od 25-10-2017

Major US stock indices moderately declined on Wednesday after the last quarterly reports of companies, including AT & T and Boeing, did not impress investors.

According to the published report, AT & T (T)'s profit for the third quarter of 2017 fiscal year (FY) reached $ 0.74 per share (versus $ 0.74 in the third quarter of 2016 FY), which was below the average forecast of analysts at $ 0.75. Quarterly revenue of the company was 39.668 billion (-3.0% y / y), while the average forecast of analysts was $ 40.335 billion.

Meanwhile, the profit of Boeing (BA) for the third quarter of 2017 FY reached $ 2.72 per share (versus $ 3.51 in the third quarter of 2016 FY), which was above the average forecast of analysts at $ 2.66. Quarterly revenue of the company was $ 24.309 billion (+ 1.7% y / y), while the average forecast of analysts was $ 24.090 billion.

In addition, as it became known, orders for durable goods grew by 2.2% in September, ahead of growth forecasts of 1.1%. With the exception of transport, orders increased by 0.7%. Investments in the business grew by 1.3% for the third month in a row, based on a closely related measure known as basic orders for capital goods. Last year, these orders grew by 7.8%.

The sales of newly built houses grew at the highest rates during the decade in September, as reliable demand supported the builders. Sales of new buildings rose to 667,000 per annum, the Ministry of Commerce reported. This is 18.9% more than in August, and 17% more than a year ago. Economists predicted 555,000 annual rates. According to the government, sales were restored after the August hurricanes. They were strong in every region, including in the south, which was destroyed by hurricanes.

Most components of the DOW index finished trading in the red (23 of 30). Leader of the growth were shares of NIKE, Inc. (NKE, + 2.78%). Outsider were shares of The Boeing Company (BA, -3.32%).

All sectors of the S & P index recorded a decline. The largest decline was shown by the sector of conglomerates (-1.8%).

At closing:

DJIA -0.48% 23,329.46 -112.30

Nasdaq -0.52% 6,563.89 -34.54

S & P -0.47% 2.557.15 -11.98

U.S. stock-index futures fell as investors assessed latest batch of corporate earnings.

Global Stocks:

Nikkei 21,707.62 -97.55 -0.45%

Hang Seng 28,302.89 +147.92 +0.53%

Shanghai 3,398.30 +10.06 +0.30%

S&P/ASX 5,905.60 +7.98 +0.14%

FTSE 7,488.40 -38.14 -0.51%

CAC 5,403.90 +9.10 +0.17%

DAX 3,007.75 -5.44 -0.04%

Crude $52.22 (-0.48%)

Gold $1,273.20 (-0.40%)

(company / ticker / price / change ($/%) / volume)

Apple (AAPL) initiated with a Buy at HSBC Securities; target $193

United Tech (UTX) target raised to $124 at Stifel

Caterpillar (CAT) target raised to $145 from $125 at Stifel

Caterpillar (CAT) target raised to $143 from $120 at RBC Capital Mkts

3M Co. (MMM) target raised to $244 from $220 at Stifel

3M Co. target (MMM) raised to $209 at RBC Capital Mkts

General Motors (GM) target raised to $316 from $327 at RBC Capital Mkts

General Motors (GM) downgraded to Equal-Weight from Overweight at Morgan Stanley

3M Co. (MMM) upgraded to Neutral from Sell at Goldman; target raised to $229 from $194

Int'l Paper (IP) reported Q3 FY 2017 earnings of $1.08 per share (versus $0.91 in Q3 FY 2016), beating analysts' consensus estimate of $1.05.

The company's quarterly revenues amounted to $5.913 bln (+12.3% y/y), generally in-line with analysts' consensus estimate of $5.854 bln.

IP traded at $58.67 (0.00%) in pre-market trading.

Visa (V) reported Q4 FY 2017 earnings of $0.90 per share (versus $0.78 in Q4 FY 2016), beating analysts' consensus estimate of $0.85.

The company's quarterly revenues amounted to $4.855 bln (+13.9% y/y), beating analysts' consensus estimate of $4.630 bln.

V rose to $109.25 (+0.77%) in pre-market trading.

Freeport-McMoRan (FCX) reported Q3 FY 2017 earnings of $0.34 per share (versus $0.13 in Q3 FY 2016), beating analysts' consensus estimate of $0.31.

The company's quarterly revenues amounted to $4.310 bln (+11.2% y/y), beating analysts' consensus estimate of $4.056 bln.

FCX rose to $15.58 (+2.30%) in pre-market trading.

Coca-Cola (KO) reported Q3 FY 2017 earnings of $0.50 per share (versus $0.49 in Q3 FY 2016), beating analysts' consensus estimate of $0.49.

The company's quarterly revenues amounted to $9.078 bln (-14.6% y/y), beating analysts' consensus estimate of $8.727 bln.

KO fell to $45.98 (-0.43%) in pre-market trading.

Boeing (BA) reported Q3 FY 2017 earnings of $2.72 per share (versus $3.51 in Q3 FY 2016), beating analysts' consensus estimate of $2.66.

The company's quarterly revenues amounted to $24.309 bln (+1.7% y/y), generally in-line with analysts' consensus estimate of $24.090 bln.

The company also issued raised guidance for FY2017 EPS of $9.90-10.10 (up from prior $9.80-10.00) versus analysts' consensus estimate of $10.03.

BA fell to $264.00 (-0.75%) in pre-market trading.

AT&T (T) reported Q3 FY 2017 earnings of $0.74 per share (versus $0.74 in Q3 FY 2016), missing analysts' consensus estimate of $0.75.

The company's quarterly revenues amounted to $39.668 bln (-3.0% y/y), missing analysts' consensus estimate of $40.335 bln.

T fell to $34.12 (-2.12%) in pre-market trading.

A pan-European stock benchmark closed lower Tuesday after two days of gains, weighed down by earnings-driven drops for Swedish miner Boliden AB and hospitality chain Whitbread PLC. National equity gauges for Europe's biggest economies edged higher, as data showed a slowing in the eurozone economy ahead of a closely watched European Central Bank meeting later in the week.

U.S. stocks closed higher on Tuesday, with the Dow ending in record territory, supported by earnings results that continued to come in ahead of expectations. Both Caterpillar and 3M boosted the blue-chip average's advance, while broader gains were limited by declines in health-care shares.

Major indexes in Asia were narrowly mixed on Wednesday, following Wall Street's stronger lead, as investors also awaited the unveiling of China's new leadership line-up. The Nikkei 225 rose 0.17 percent as the dollar held onto overnight gains. The benchmark index is rising high after notching its 16th straight winning session on Tuesday - its longest ever win streak.