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JPMorgan Chase, America's largest bank reported better than expected Q2 earnings Tuesday before the open. $JPM announced better revenue and profits led by Consumer & Community Banking. Net income was helped by income tax benefits of $768 million Wells Fargo $WFC and Goldman Sachs also reported Tuesday.
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Citigroup started off the banking sectors Q2 earnings season before the market open Monday with better than expected results $C report ahead of other money center banks Bank of America $BAC JPMorgan Chase $JPM, Wells Fargo $WFC, PNC Financial $PNC and Goldman Sachs.
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Citigroup $C along with JPMorgan Chase $JPM, America's largest bank, Bank of America $BAC, Goldman Sachs $GS , PNC Financial $PNC, Morgan Stanley $MS and Wells Fargo $WFC kick off the banking sector's Q219 earnings season on Monday before the market opens with expectations for lower earnings on a flatter yield curve.
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KB Homes reported better than expected Q2 earnings after the market Thursday. The stock jumped 7% after it had been sold off with other homebuilders after Lennar's $LEN conference call. A decline in homebuilding revenue has hurt the top line in the past year.
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FedEx Corp reported better than expected earnings after the close Tuesday with largely negative expectations as the trade war has hurt $FDX more than most with it's large China presence. Lower FedEx International Priority package and freight revenues at FedEx Express hurt.
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Memory chip maker Micron reported better than experted earnings and revenues after the close Tuesday. $MU had scaled back its forecasts on DRAM and NAND memory chips. Last week JP Morgan slashed its price target on the chipmaker due to Huawei ban.
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Lennar Corporation reported better than expected Q2 earnings Tuesday. However $LEN reversed sharply lower after guiding lower in their conference call and May new home sales showed a big miss in the west.
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Workplace messaging app company Slack debuted at the NYSE with a value at $20bn, 48% above the reference price set by NYSE $WORK followed Spotify in a rare direct listing. The company has seen decelerating growth recently with investors betting on more paying customer conversions.
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Software giant Oracle reported better than expected fiscal fourth quarter earnings after the close Wednesday. $ORCL benefited from Fusion and NetSuite cloud applications sales with competition on two main fronts, $AMZN Cloud infrastructure and $CRM platform database.
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Athletic apparel company Lululemon Athletica, best known for it's yoga gear reported better than expected first quarter earnings and raised guidance sending $LULU to an all time high. High margin, accelerating and expanding in new lines and online sales boost.
