Novosti i prognoe: tržište kapitala od 26-01-2021

U.S. stock-index futures rose slightly on Tuesday, as investors assessed a big batch of earnings reports and weighted the prospects of Biden’s $1.9 trillion coronavirus relief plan, while awaiting the beginning of a two-day policy meeting of the U.S. Federal Reserve later today.

Global Stocks:

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

Freeport-McMoRan (FCX) reported Q4 FY 2020 earnings of $0.39 per share (versus $0.02 per share in Q4 FY 2019), missing analysts’ consensus estimate of $0.40 per share.

The company’s quarterly revenues amounted to $4.495 bln (+14.9% y/y), beating analysts’ consensus estimate of $4.330 bln.

FCX fell to $28.74 (-0.83%) in pre-market trading.

Verizon (VZ) reported Q4 FY 2020 earnings of $1.21 per share (versus $1.13 per share in Q4 FY 2019), beating analysts’ consensus estimate of $1.17 per share.

The company’s quarterly revenues amounted to $34.700 bln (-0.2% y/y), roughly in line with analysts’ consensus estimate of $34.474 bln.

VZ fell to $57.95 (-0.80%) in pre-market trading.

Raytheon Technologies (RTX) reported Q4 FY 2020 earnings of $0.74 per share (versus $1.16 per share in Q4 FY 2019), beating analysts’ consensus estimate of $0.69 per share.

The company’s quarterly revenues amounted to $16.419 bln (-1.0% y/y), beating analysts’ consensus estimate of $16.075 bln.

RTX rose to $68.10 (+2.75%) in pre-market trading.

General Electric (GE) reported Q4 FY 2020 earnings of $0.08 per share (versus $0.21 per share in Q4 FY 2019), missing analysts’ consensus estimate of $0.09 per share.

The company’s quarterly revenues amounted to $21.928 bln (-16.4% y/y), beating analysts’ consensus estimate of $21.620 bln.

The company also issued downside guidance for FY 2021, projecting EPS of $0.15-0.25 versus analysts’ consensus estimate of $0.38.

GE rose to $11.73 (+6.73%) in pre-market trading.

American Express (AXP) reported Q4 FY 2020 earnings of $1.76 per share (versus $2.03 per share in Q4 FY 2019), beating analysts’ consensus estimate of $1.30 per share.

The company’s quarterly revenues amounted to $9.351 bln (-17.7% y/y), roughly in-line with analysts’ consensus estimate of $9.319 bln.

AXP fell to $119.00 (-1.77%) in pre-market trading.

3M (MMM) reported Q4 FY 2020 earnings of $2.38 per share (versus $1.95 per share in Q4 FY 2019), beating analysts’ consensus estimate of $2.17 per share.

The company’s quarterly revenues amounted to $8.583 bln (+5.8% y/y), beating analysts’ consensus estimate of $8.389 bln.

The company also issued in-line guidance for FY 2021, projecting EPS of $9.20-9.70 versus analysts’ consensus estimate of $9.52 and revenues of +5-8% (implying $33.8-34.8 bln) versus analysts’ consensus estimate of $33.95 bln.

MMM rose to $171.84 (+0.85%) in pre-market trading.

Johnson & Johnson (JNJ) reported Q4 FY 2020 earnings of $1.86 per share (versus $1.88 per share in Q4 FY 2019), beating analysts’ consensus estimate of $1.83 per share.

The company’s quarterly revenues amounted to $22.500 bln (+8.7% y/y), beating analysts’ consensus estimate of $21.621 bln.

The company also issued upside guidance for FY 2021, projecting EPS of $9.25-$9.45 versus analysts’ consensus estimate of $9.00 and sales of $88.8-$90.0 bln versus analysts’ consensus estimate of $88.6 bln.

JNJ rose to $169.00 (+1.82%) in pre-market trading.

• Monetary policy does have some limits in trying to achieve inflation target
• We have done our utmost but still did not achieve 2% inflation
• Ultimately, central banks are responsible for preventing excessive inflation/deflation