Earnings Reports

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Sound system technology company Sonos released better than expected second quarter earnings after the close Wednesday with the momentum of Home Theater smarter speaker Beam leading. After two large EPS misses, $SONOS has now reported three massive EPS beats in a row.

Uber Technologies reported worse than expected Q2 earnings with a smaller loss but on less revenue than expected. However the smaller loss was from a $1.6 billion gain from the sale of Uber’s self-driving unit. Uber’s Delivery business continues to carry the company. $UBER shares traded lower by 6.8% the miss.

Real Estate firm Zillow returned a profit for the first quarter versus a loss a year ago. $Z is benefiting from the housing boom where US March housing starts soared in March 19.4%, the highest reading since June of 2006. The median existing home price was the highest on record. 

Texas Instruments, the largest manufacturer of analog and embedded processors in America, traded sharply lower despite reporting better than expected 1Q21 results and 2Q21 guidance after the close Tuesday. Concern is over inventory levels becoming more depleted and its lead-times for some products extending.

Motorcycle icon Harley Davidson reported much better than expected first quarter earnings Monday before the market. $HOG saw momentum building rapidly as the US economy opened up and ridership soared. $HOG rose 10% on the report.

Morgan Stanley reported better than expected first quarter earnings before the bell Fridayon stronger-than-expected trading and investment banking results. The boom in SPAC-issuance has been a boon in fees for for $MS.Bank of America, JPMorgan Chase, Wells Fargo  PNC Financial, Goldman Sachs and Citigroup reporting.

Blackrock reported better than expected first quarter earnings before the bell on Thursday. $BLK saw higher income from it's ETF and investment management income, reporting after Goldman Sachs $GS,  Wells Fargo $WFC and JPMorgan $JPM. BlackRock closed the quarter with over $9 trillion in total assets under management.

PNC Financial reported better than expected first quarter earnings before the bell on Friday. $PNC saw higher interest income and a rise in non-interest income,  The Bank reported after Citigroup, Goldman Sachs, CitigroupWells Fargo  and JPMorgan

Citigroup reported better than expected Q1 earnings Thursday before the market including a $3.4 bln credit reserve release. $C reported after JPMorgan Chase, Goldman Sachs and Wells Fargo. Citi will operate consumer banking solely from 4 wealth centers: Singapore, Hong Kong, UAE, and London.

Bank of America reported better than expected first quarter earnings before the bell Thursday on surginginvestment banking and trading results coupled with the release of loan-loss reserves.  $BAC followed CitigroupJPMorgan Chase, Wells FargoGoldman Sachs reporting

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