Boeing Soars On Stronger Q4 Earnings

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Shares of aerospace giant, Boeing, gained over 6.5% and traded at an all-time high of $168.65 as the firm announced better-than-expected Q4 earnings.

The company reported Q4 earnings of $2.47 per share versus analysts’ estimates of $2.32 per share. On the revenue side, Boeing announced $23.3 billion against expectations of $23.1 billion.

Even though revenue from military orders fell by 18% from the same quarter in 2015, the company still said that it delivered 926 commercial and defence aircraft over the full year.

The company’s outlook for 2017 EPS came in at $9.10 to $9.30, with the top end of this range reflecting a 6% decline from FY 2016 EPS of $9.90 per share.

This lower forward guidance will likely temper further gains beyond the $172.50 level.

AT&T Q4 Results

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Shares of AT&T ended the day flat after Q4 earnings were roughly in line with the street’s expectations.

The company announced Q4 adjusted earnings of 66 cents per share on revenue of $41.8 billion, which was slightly lower than the year-earlier revenue of $42.1 billion. Analysts were expecting earnings of 66 cents per share on revenue of $42.04 billion.

The brightest spot in the report was that AT&T added 200,000 paid subscribers to it DirectTV streaming entertainment service during Q4, which brings the total number of subscribers to just over 21 million.

Shares of AT&T have been trading in a pennant formation over the last 12 months with resistance in the $43.00 area and support in the $36.00 area. Shares closed today at $41.30.

Lockheed Martin Q4 results

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Major Defence contractor Lockheed Martin reported Q4 earnings of $3.25 per share, surpassing the street’s estimate of $3.04 by almost  7%. Full year earnings of $12.38 also beat the consensus  of $12.18 and improved by 24.7% from the year-ago level.

Q4 revenue was announced at $13.75 billion , beating analysts’ expectations of $13.09 billion by 5%. Total 2016 revenues were reported at $47.25 billion, up 16.6% on a year-on-year basis and above the street consensus of $46.46 billion.

For 2017, the firm expects to generate revenues in the $49.5 to $51.25 billion range and expects EPS to be in the range of $12.25 to $12.55.

Despite this solid Q4 report, shares of Lockheed Martin fell 4.5% on the day to $252.00. We see scope for the price to slip lower to the November low of $240.00 over the near-term.

Chart – Lockheed Martin

3M Slips Despite Solid Earnings

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Q4 earnings for 3M printed higher, led by strength in its core industrial unit and steady overseas sales.

The maker of industrial adhesives and “post-it notes” reported Q4 earnings of $1.88 per share on revenue of $7.33 billion, compared to $1.66 per share a year ago. The firm said sales in its industrial division increased by 3% to $2.5 billion, led by automotive original equipment manufacturing.

The company also restated its previous 2017 EPS guidance to reach the $8.45 to $8.80 range.

Despite the upbeat report, shares of 3m fell 2.54% to close at $176.00. This is just 4% below the 5-year high posted in July at $181.50. We would expect good technical support to emerge back at the Mid-November lows around $170.50.

Chart – 3M

Johnson and Johnson Q4 Revenue Falls Short

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Health care giant  Johnson and Johnson reported higher earnings but revenue numbers fell short of expectations.

J&J announced Q4 adjusted earnings of $1.58 per share, up 9.75 from a year ago and above the street estimate of $1.56 per share. The firm reported net earnings of $3.8 billion , which was in line with estimates of $3.81 billion.

However, Q4 revenue was announced at $18.11 billion, compared to the consensus of $18.25 billion. J&J issued sales and earnings guidance for 2017 for EPS of $6.90 to $7.10 on revenue of $74.1 to $74.8 billion.

Like many of its peers, J&J is facing generic competition and pricing pressure for some of its pharmaceutical products. As a results, shares of J&J fell over 2% to $111.70, which is close to 7% below the November high of $120.50.

Chart – Johnson & Johnson