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Tuesday's Market Minute: Earnings Snapshot

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Tuesday's Market Minute: Earnings Snapshot

This morning's earnings include a few big names from disparate sectors: 3M Co (NYSE: MMM), Pfizer Inc. (NYSE: PFE), Pulte Group Inc. (NYSE: PHM), Lockheed Martin Corporation (NYSE: LMT), and United Technologies Corporation (NYSE: UTX). With headline news, especially coronavirus, roiling the market, today may be a good snapshot for investors looking for the overall picture for 2020. 3M missed on the top and bottom line and announced restructuring plans that would cut about 1,500 positions: perhaps a bad sign for a company whose segments span Industrials to Health Care.

Pfizer missed EPS estimates, and set 2020 estimate ranges largely below consensus. Pulte Group, on the other hand, beat this quarter: homebuilders have largely been on the uptrend in the last year, and investors might forecast gains to continue in that sector. Lockheed Martin and United Technologies both beat, as well: though the iconic Boeing Co (NYSE: BA) is awash in its own problems, defense and aerospace are still doing fine without it.

Tune into the TD Ameritrade Network for an in-depth breakdown of this morning's earnings, and sector strengths and weaknesses.

Image Sourced from Pixabay

 

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