Encouraging housing data and strong quarterly earnings reports provided positive stimuli to the markets. All the major indices are trading up, building on the gains made in the previous trading session.
Apart from macro factors, the markets are also affected by individual stocks. mainly those reporting financial results. Among them are BlackRock Inc. (NYSE:BLK), Comerica Incorporated (NYSE:CMA), Domino’s Pizza Inc. (NYSE:DPZ), Goldman Sachs Group Inc. (NYSE:GS), and Harley-Davidson Inc. (NYSE:HOG), and in this article we are going to take a closer look at the financial performance of these companies and will see what the investors from our database thing about them.
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BlackRock Inc. (NYSE:BLK) stock has inched up after the company announced its mixed quarter results. BlackRock reported fiscal third-quarter earnings of $5.14 per share, surpassing the consensus estimate of $5 per share, but the revenue at $2.84 billion declined by 2.4% on the year and was lower than the expectations of $2.88 billion. BlackRock said that its well-diversified platform led to $70 billion of total net inflows. The company ended the quarter with assets under management of AUM of $5.12 trillion, up by 14% year-on-year. Among the funds we track, 27 funds held $280 million worth of BlackRock’s stock in aggregate at the end of June, having amassed 0.50% of its outstanding stock.
Comerica Incorporated (NYSE:CMA)’s shares reacted positively to strong third-quarter results, which included EPS of $0.84 and revenue of $722 million, beating the consensus estimates by $0.18 and $1.02 million, respectively. Comerica Incorporated reported its first quarterly profit increase in seven quarters and its revenue increased by 5.9% on the year. The company’s increased profitability is attributed to the fall in provisions for bad loans. The number of funds from our database long Comerica Incorporated advanced to 42 from 36 during the second quarter, while the total value of their holdings declined to $717 million from $776 million.
On the next page, we are going to discuss the latest results posted by Domino’s Pizza, Goldman Sachs Group, and Harley Davidson.