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Tempur Sealy shares rise after earnings and sales beat

10/31/2019

Ametek Inc. Q3 adjusted earnings Beat Estimates

Ametek Inc. (AME) announced earnings for its third quarter that rose from last year.

The company’s earnings totaled $220.75 million, or $0.97 per share. This compares with $191.21 million, or $0.83 per share, in last year’s third quarter.

Analysts had expected the company to earn $1.01 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 7.6% to $1.28 billion from $1.19 billion last year.

Ametek Inc. earnings at a glance:

-EPS (Q3): $1.06 vs. $0.91 last year.
-Analysts Estimate: $1.01
-Revenue (Q3): $1.28 Bln vs. $1.19 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.01 to $1.03
Full year EPS guidance: $4.12 to $4.14

Stocks open mixed on China trade deal skepticism

U.S. stocks opened mixed Thursday, weighed down by a report overnight that indicated the Chinese government has doubts about coming to a comprehensive trade agreement with the U.S. The Dow DJIA, -0.15% opened about 12 points, less than 0.1%, lower. The S&P 500 SPX, -0.07% opened up 1 point, less than 0.1%, higher, then immediately dipped into the red. The Nasdaq COMP, +0.18% opened higher by 3 points, less than 0.1%. The pullback comes after a Wednesday jump for stocks following a Federal Reserve rate cut that took the S&P 500 to a fresh high.

U.S. Weekly Jobless Claims Show Modest Decrease

The Labor Department released a report on Thursday showing a modest decrease in first-time claims for U.S. unemployment benefits in the week ended October 19th.

The report said initial jobless claims dipped to 212,000, a decrease of 6,000 from the previous week’s revised level of 218,000.

Economists had expected jobless claims to inch up to 215,000 from the 214,000 originally reported for the previous week.

The Labor Department said the less volatile four-week moving average also edged down to 215,000, a decrease of 750 from the previous week’s revised average of 215,750.

The report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also slipped by 1,000 to 1.682 million in the week ended October 12th.

The four-week moving average of continuing claims still rose to 1,677,250, an increase of 6,500 from the previous week’s revised average of 1,670,750.

Next Friday, the Labor Department is scheduled to release its more closely watched monthly employment report for October.

EQT Corporation Q3 adjusted earnings of -$0.06 per share

Below are the earnings highlights for EQT Corporation (EQT):

-Earnings: -$361.03 million in Q3 vs. -$39.69 million in the same period last year.
-EPS: -$1.41 in Q3 vs. -$0.15 in the same period last year.
-Excluding items, EQT Corporation reported adjusted earnings of -$14 million or -$0.06 per share for the period.
-Revenue: $0.77 billion in Q3 vs. $1.05 billion in the same period last year.

Stock futures drop as US-China trade worries resurface

US stock index futures fell on Thursday as uncertainty around a potential trade deal between the United States and China overshadowed strong earnings reports from Apple and Facebook.

Chinese officials have doubts about whether it is possible to reach a comprehensive long-term trade deal with Washington and President Donald Trump, Bloomberg reported earlier in the day, citing unnamed sources.

Hopes of a possible trade deal and interest rate cut by the Federal Reserve have helped the benchmark S&P 500 hit record high earlier this week.

The US central bank lowered borrowing costs for the third time this year on Wednesday to help sustain domestic growth despite a slowdown in other parts of the world, but signaled there would be no further reductions unless the economy takes a turn for the worse.

Another bright spot has been the third-quarter earnings season, which has been largely better than expected so far.

Apple rose 2.3 percent in premarket trading after the iPhone maker forecast sales for the holiday shopping quarter ahead of expectations.

Facebook jumped 4.6 percent after reporting an uptick in users in lucrative markets and its third straight rise in quarterly sales growth.

Twitter dropped 1.8 percent after the company said it will ban political advertising on its platform next month.

Chicago Fed board chairwoman steps down amid probe of former employer Exelon

Anne Pramaggiore, a nuclear-energy executive embroiled in a review of lobbying activities, has resigned from her position as chairwoman of the board of directors overseeing the Federal Reserve Bank of Chicago, the bank reportedly confirmed to the Wall Street Journal. Pramaggiore stepped down from the position on Oct. 25, but the resignation wasn’t made public by the Chicago Fed until it was confirmed by a bank spokesperson in response to a question from the Journal. Pramaggiore abruptly retired on Oct. 15 from her job as chief executive of the utilities unit of Exelon Corp. EXC, -0.53%, the largest operator of nuclear plants in the U.S., less than a week after the company said it had received a second grand-jury subpoena from federal prosecutors looking into its lobbying activities in Illinois.