The latest round of earnings releases has given a boost to US futures, pointing to a higher open today, with investors also awaiting the release of manufacturing PMI data. In this article we’ll take a look at five companies that released quarterly results on Thursday.
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Utilities On The Rebound?
Southwestern Energy Company (NYSE:SWN) posted another quarterly loss, albeit a narrower one, as the company’s struggles continue amid a pricing downturn. For the three months ended June 30, the oil and gas company posted a net loss of $620 million or $0.09 per share when adjusted for asset impairment and non-recurring costs, topping analysts’ consensus of a loss of $0.11 per share. Revenue came in $522 million, marginally lower than analysts’ estimates of $524.5 million. Hedge fund interest in Southwestern Energy Company (NYSE:SWN) cooled down a bit during the first quarter, with the number of long positions, among the funds we track, having fallen to 28 at the end of March, from 32 at the end of December. Together, these funds held roughly 21% of the company’s common stock.
Starbucks Posts Record Earnings
Posting record revenue and earnings have not helped Starbucks Corporation (NASDAQ:SBUX) and the stock opened slightly in the red. Fiscal third-quarter revenue rose by 7% year-over-year to $5.2 billion, but missed analysts’ projections of $5.3 billion. Starbucks Corporation (NASDAQ:SBUX) posted adjusted earnings of $0.49 per share, which was in line with the consensus among analysts. “As we enter Q4 and approach fiscal 2017, we have clear line of sight to returning our U.S. business to historic levels of comp sales growth which had been at or above 5% for the 25 consecutive quarters prior to Q3,” commented Howard Schultz, CEO of Starbucks. Among the investors in our database, the sentiment towards Starbucks Corporation (NASDAQ:SBUX) took a turn for the worse in the first quarter, as the number of long bets dropped to 52 from 61 registered at the end of the previous quarter.
Turn the page to how one footwear and two semiconductor companies have fared during the latest quarter.