These four large caps announced first-quarter results for fiscal 2019 before the opening bell on Tuesday.
Twitter Inc. (TWTR, Financial) soared 7.5% to $36.97 per share in premarket trading on Tuesday after posting non-GAAP earnings of 37 cents per share, which was 131.3% higher year-over-year. Earnings beating expectations by 22 cents. GAAP earnings, which were impacted by $124 million tax benefit, increased 212.5% to 25 cents per share.
Revenue rose 18.3% to $787 million, beating consensus estimates by $11.84 million. Advertising segment revenue jumped 18% to $679 million and data licensing increased nearly 19% to $107 million.
Twitter recorded an 11.7% increase in average monetizable daily active users to 134 million with 105 million from international and 28 million from the U.S. The average monthly active users decreased 1.8% to 330 million in the quarter, with 262 million being international and 68 million from the U.S.
The company also posted a 23% increase in total ad engagements and a 4% drop in the cost per engagement.
For the second quarter, Twitter forecasted operating income of $35 million to $70 million and total revenue of $770 million to $830 million.
Over the past 52 weeks, shares of Twitter increased 13% to a closing price of $34.39 on Monday for a market capitalization of $26.41 billion. The share price is above the 200-, 100- and 50-day simple moving average lines. The closing price on Monday was 31.3% above the 52-week low of $26.19 and nearly 39% below the 52-week high of $47.79.
Shares of Coca-Cola Co. (KO, Financial) were up 1.75% to $48.23 in premarket trading on Tuesday after the company beat consensus estimates on non-GAAP earnings by 2 cents, having posted 48 cents or 2% growth from the prior-year quarter. GAAP earnings increased 24% to 38 cents per share.
Revenue increased 5% to $8 billion, beating consensus estimates by $110 million.
Helped by a 14% jump in the Europe, Middle East and Africa business and a 9% increase in the bottling business, organic sales improved 6%.
The company also reported a decline of 20 basis points in operating margin to 30.5%, a 14% increase in operating cash flow to $699 million and 1% decline in free cash flow to $335 million.
Looking ahead, Coca-Cola expects organic sales to grow approximately 4% and total sales to grow about 12.5% in 2019. Also, the company anticipates a change within the range of a 1% decline to 1% increase in earnings per share compared to 2018.
Shares of Coca-Cola Co. closed at $47.4 on Monday for a market capitalization of $202.64 billion. The stock climbed 10% over the 52 weeks through April 22 to above the 200-, 100- and 50-day simple moving average lines. The closing price on Monday was 14.4% above the 52-week low of $41.45 and 7.3% below the 52-week high of $50.84.
Verizon Communications Inc. (VZ, Financial) was down 1.01% to $57.78 per share in premarket trading Tuesday after the company released non-GAAP earnings of $1.20 per share, up 2.6%, and GAAP earnings of $1.22, up 9.9%, on revenue of $32.13 billion, up 1.1%.
Verizon Communications beat expectations on non-GAAP earnings by 4 cents and matched expectations on revenue.
The wireless revenue segment grew 3.7% to $22.7 billion as a result of significant service revenue growth, while the wireline segment decreased 3.9% to $7.3 billion.
For full fiscal 2019, Verizon expects low single-digit percentage growth in GAAP revenue and adjusted earnings per share. The company also anticipates an effective tax rate at around 25%, capital spending ranging between $17 billion and $18 billion, and higher cash taxes.
Over the past 52 weeks, shares of Verizon increased 18% to a closing price of $58.4 on Monday for a market capitalization of $241.07 billion. The share price is trading above the 200-, 100- and 50-day simple moving average lines. The closing price on Monday was 26.7% above the 52-week low of $46.09 and 5.4% below the 52-week high of $61.58.
Shares of Lockheed Martin Corp. (LMT, Financial) were up 3.7% to $326.93 in premarket trading on Tuesday after the company beat consensus estimates on GAAP earnings by $1.65, having posted $5.99 or 49% growth from the prior-year quarter.
At $14.3 billion, revenue increased nearly 23% year-over-year, beating expectations by $1.74 billion.
The aeronautics division increased 27% to $5.58 billion, the missiles and fire control division grew 40% to $2.35 billion, the rotary and mission systems division went up 17% to $3.76 billion and the space division jumped 13% to $2.64 billion.
The company also recorded a boost in its order backlog to a record $133.5 billion, and strong growth in the operating margin of three out of four divisions.
Lockheed said it expects full-year 2019 earnings per share of $20.05 to $20.35, up 4.7% from previous guidance, versus consensus estimates of $19.58, and forecasted revenues of $56.75 billion to $58.25 billion, up 1.8% from previous guidance, versus a $56.81 billion consensus.
Shares of Lockheed Martin Corp. closed at $315.3 on Monday for a market capitalization of $89.16 billion. The stock declined 6% over the 52 weeks through April 22; however, the closing price on Monday was above the 200-, 100- and 50-day simple moving average lines. The share price was also 30.7% above the 52-week low of $241.18 and 14.8% below the 52-week high of $361.99.
Disclosure: I have no positions in any security mentioned.
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