Investing

Earnings Previews: Halliburton, Johnson & Johnson, Lockheed Martin, Truist

Before markets opened Wednesday, JPMorgan beat a modest revenue estimate and missed on profits. The stock closed down more than 3% for the day. Delta Air Lines posted a tiny profit and a solid revenue beat to close up more than 6%. BlackRock missed the consensus revenue estimate but beat the earnings estimate by more than 7%. The shares closed down by less than 1%. Bed Bath & Beyond missed on both profits and revenues, and the stock closed down by just 1.2%.

We had previewed seven companies that reported results before markets opened Thursday. Taiwan Semiconductor beat both profit and revenue estimates and guided current quarter revenue higher. The stock added more than 4% on Wednesday and traded down about 1.7% in the late morning Thursday.

UnitedHealth also beat top-line and bottom-line estimates and raised full-year guidance, but not by enough to move the stock price much. Shares traded up by about 0.7% just before noon Thursday.

Wells Fargo missed on revenue but topped the earnings estimate by 10%. Shares were trading down by 3.3%.

Citigroup hammered the consensus profit estimate by 43% and also beat the revenue estimate, although year-over-year revenue was down by 2.6%. The stock traded up by about 1.9% in morning trading Thursday.

Goldman Sachs beat the consensus earnings estimate by $1.78 (19.8%) and the revenue estimate by 9.9%. Revenue fell by nearly 27% year over year, however. The stock traded down by about 0.2% Thursday morning.

Morgan Stanley beat the consensus earnings estimate by 17.4%, but revenue sank by nearly 6% year over year. The stock traded up by about 1.3% as the noon hour approached.

Rite Aid posted a much larger than expected loss but beat the revenue estimate and guided current year revenue in-line with expectations. Shares were up nearly 8% in premarket trading but fell back to a gain of just less than 1% in the late morning.

Just a reminder that U.S. markets are closed Friday and that there are no earnings releases scheduled. Here is our preview of four financial firms set to report results before markets open on Monday: Bank of America, BNY Mellon, Charles Schwab and Synchrony.

Here are previews of four companies set to report results before Tuesday’s opening bell.

Halliburton

Oilfield services firm Halliburton Co. (NYSE: HAL) has seen its share price nearly double over the past 12 months. Virtually all the growth has come since early December. Halliburton and rivals Schlumberger and Baker Hughes have all suspended their operations in Russia following the invasion of Ukraine. The suspension is the least costly to Halliburton, which would have realized about 2% of 2022 revenue from its Russian business. Schlumberger and Baker Hughes would each have derived about 5% of estimated revenue from Russian operations.

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