STOCK NEWS
GameStop Corp. (NYSE:GME): released Q3 numbers early. It expects to report Q3 revenues of $2.0 billion which is lower than the consensus which was projecting $2.08 billion. Comparable store sales are expected to be -7% to -6%.
Q3 EPS of $0.45 to $0.49 is expected to be which is lower than the consensus which was projecting $0.56 in EPS. GameStop Corp. (NYSE:GME)’s new full year guidance for EPS is $3.85 to $3.80. Comparable sales are expected to be -9.5% to -6.5% for the year.
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Estee Lauder Companies Inc (NYSE:EL): reported Q1 EPS of $0.84 which beat estimates by $0.04. Revenues of $2.87 billion were up 1.4% year over year which missed estimates by $30 million. The following is the revenue of each segment: Skin Care was down 1% at $1.1 billion, Makeup was up 1% at $1.17 billion, Fragrance was up 10% at $442 million, Hair Care was up 1% at $136 million, Other was up 24% at $21 million.
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Alibaba Group Holding Ltd (NYSE:BABA): reported Q2 EPS of $0.79 which beat estimates by $0.10. Revenues of $5.14 billion were up 47.3% year over year which beat estimates by $110 million. The following are the revenues for each business segment: Core commerce was $4.273 billion which was up 41%, Cloud computing was $224 million which was up 130%, Digital media and entertainment was $541 million which was up 302%, Innovation and initiatives and others was $104 million which was up 78%.
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Allergan plc (NYSE:AGN): reported Q3 EPS of $3.32 which missed estimates by $0.26. Revenues of $3.26 billion were up 4.3% which missed estimates by $70 million. The board authorized a $10 billion buyback. The CEO did not anticipate sales declines from products facing generic competition, including Namenda. He takes personal responsibility for missing EPS expectations by such a wide margin.
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ECONOMIC NEWS
The jobs growth in the ADP report missed expectations by 18,000 coming in at +147,000. The New York ISM contracted for the 3rd straight month which is the worst streak in 7 years. Donald Trump gained in the polls. In a no toss-ups map of the latest polls he is at 265 Electoral College votes, so if he shifts one more state he will win the election.
