Financialbuzz.com

'Market Recap' Week Ending September 20th, 2019 - Seite 2

Adobe Inc. (NASDAQ: ADBE) reported its third quarter financial results after the market close on Tuesday. Despite beating expectations, Adobe shares edged lower by 4% at the opening bell on Wednesday. For the fourth quarter, Adobe reported earnings of USD 2.05 per share on revenue of USD 2.83 Billion. Analysts expected earnings of USD 1.97 per share on revenues of USD 2.82 Billion. However, the Company provided a weaker-than-expected guidance for the fourth quarter. Adobe is anticipating earnings of USD 2.25 per share on revenues of USD 2.97 Billion. Meanwhile, analysts are projecting earnings of USD 2.30 per share on revenue of USD 3.02 Billion.

FedEx Corporation (NYSE: FDX) reported its first quarter financial results after the closing bell on Tuesday. FedEx stock price plunged by 14% after missing earnings and warning about weakening global macro conditions. FedEx reported earnings of USD 3.05 per share on revenues of USD 17.05 Billion compared to estimates of USD 3.16 per share on revenues of USD 17.06 Billion. Due to ongoing global trade tensions, FedEx reduced its revenue outlook since the Company's initial forecast in June for fiscal 2020. The Company is expecting earnings between USD 10.00 per share to USD 12.00 per share. 

Chewy, Inc. (NYSE: CHWY) reported its second quarter financial during Tuesday's extended trading hours. Shares edged lower by 2%, despite the Company reporting narrower-than-expected losses. Chewy reported earnings loss of USD 0.10 per share on revenues of USD 1.15 Billion. Analysts expected earnings loss of USD 0.11 per share on revenues of USD 1.13 Billion. The Company reported that its quarterly revenue grew by 43% compared to the same quarter a year ago, primarily driven by its active customers and its auto-shipping service. Chewy reported a total of 12 million active customers, representing a 39% increase year-over-year. Moreover, the Company reported that auto-ship customers accounted for 69% of its total sales. 

General Mills, Inc. (NYSE: GIS) reported its first quarter financial results during Wednesday's pre-market hours. The Company came out on top and surpassed analysts' estimates, sending shares roughly 2.5% higher. For the second quarter, General Mills reported earnings of USD 0.79 per share on revenues of USD 4.0 Billion. General Mills topped earnings estimates of USD 0.77 per share, but missed revenue estimates by 2.19%. The Company also reported that revenue declined by 2%, largely due to lower sales in its organic net sales. General Mills' North America retail segment sales remained flat, but its Convenience Stores & Foodservice, Europe & Australia, and Asia & Latin America markets all witnessed declining revenues. However, General Mills' Pet segment reported a 7% growth in net sales, which offset the losses in the Company's geographic segments.