Amazon, Alphabet & Other Companies Are in Spotlight as Investors Digest Latest Financial Reports

Alphabet Earnings Ahead of Estimates 

Alphabet Inc (NASDAQ:GOOG)’s shares are in the green in pre-market trading after the tech behemoth reported earnings of $8.42 per share and revenue of $21.5 billion for the second quarter. The results beat analyst estimates by $0.38 per share and $740 million, respectively. Revenue rocketed by an impressive 21.3% year-over-year, as Google advertising revenue jumped by 19% year-over-year on the back of stronger click metrics. Operating margin was 35% for the quarter, up from 34% last year. Free cash flow amounted to $6.99 billion, substantially higher than last year’s $4.58 billion. Among the investors we track, 155 funds held class A shares of Alphabet and 142 funds held class C shares at the end of the March quarter.

CIGNA Misses Expectations

CIGNA Corporation (NYSE:CI) is in the spotlight today after reporting a lackluster second quarter. For the time period, the insurer posted EPS of $1.98 on revenue of $9.89 billion, versus analyst estimates of $2.39 per share and $9.97 billion, respectively. The revenue increased by 5% on the year, driven by strong performance in the company’s Global Health Care and Global Supplemental Benfits divisions. Management sees full year 2016 adjusted EPS in the range of $7.75 to $8.10, down from the previous forecast of $8.95 to $9.35. The number of funds from our database with holdings in CIGNA Corporation (NYSE:CI) fell by six quarter-over-quarter to 61 at the end of March.

Yamana Reports Results

Traders are watching Yamana Gold Inc. (USA) (NYSE:AUY) today after the company reported a second-quarter profit of $0.01 per share, versus analyst estimates of $0.02 per share. Revenue for the quarter was in-line with expectations, at $466.5 million. Total gold production was 313,086 ounces with the by-product cash cost and all-in sustaining costs (AISC) of $664 and $964 per ounce, respectively. Management belives it can achieve AISC of $880 to $920 per ounce for the full 2016. Jim Simons’ Renaissance Technologies raised its position in Yamana Gold by 37% to 6.7 million shares in the first quarter.

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