9 Mins Ago
European earnings could sustain their loftier levels, Bernstein says
European earnings have seen a robust season, and signs point to this strength staying, according to Bernstein.
“European forward earnings are currently 14% above their long-run trend, and 30% higher than pre-Covid at the market level, which makes for an uneasy visual,” the investment firm wrote. “Is there a risk of a significant cut to estimates and earnings return to long-run trend?”
To answer this question, Bernstein polled analysts covering banks, semiconductors, energy, autos and capital goods, or the European industries whose earnings have so far been most above trend.
“While near-term tactical earnings downgrades are expected in all cases, we do not see a significant risk of earnings returning to trend, for reasons which are idiosyncratic to each industry,” Bernstein wrote.
— Lisa Kailai Han
24 Mins Ago
Stocks making the biggest moves after hours
Check out the companies making headlines in extended trading.
Robinhood Markets — Shares jumped 9.5% after the trading platform posted a surprise earnings and revenue beat. Robinhood reported 3 cents in earnings per share, versus analysts’ expectations of a loss of 1 cent per share, according to LSEG, formerly known as Refinitiv. Revenue came in at $471 million, topping the $457 million expected by analysts.Â
Lyft — The ride-hailing operator saw its shares soar 18.5% in extended trading after it reported strong fourth-quarter results and gave better-than-expected guidance. The company posted adjusted earnings per share of 18 cents for the fourth quarter, topping analysts’ estimates of 8 cents, according to LSEG. Revenue of $1.22 billion was in line with analysts’ expectations.
The full list can be found here.
— Hakyung Kim
38 Mins Ago
Stock futures open flat Tuesday
U.S. stock futures opened little changed on Tuesday.
Dow Jones Industrial Average futures ticked down 19 points, or 0.05%. Futures tied to the S&P 500 traded near the flatline, while Nasdaq 100 futures gained 0.08%.
— Hakyung Kim
