Corporate America Is Making It Rain
All of them beat analysts' estimates on profits and revenues in the first quarter, and all of the stocks are trading higher in the pre-market session.
Goldman reported earnings of $4.29 per share (versus $3.86 expected) and revenues of $10.09 billion (versus $9.65 billion expected) on strong investment banking business in the first quarter. The stock is up 0.2%.
Coca-Cola said it made $0.46 per share (versus $0.44 expected) and brought in $11.04 billion in sales (versus $10.94 billion expected) on strong gains in Latin America. The stock is up 3.0%.
Johnson & Johnson's earnings came in at $1.44 per share (versus $1.39 expected) and revenues were $17.51 billion (versus $17.41 expected) on robust pharmaceutical sales. The stock is up 1.4%.
Blackrock reported earnings of $3.65 per share (versus $3.57 expected) and revenues of $2.45 billion (versus $2.44 billion expected) thanks to increased investor interest in ETFs in the first quarter. The stock is up 2.2%.
Regardless of what the results say about the economy, markets seem to like the news, and the stocks are being rewarded.