3 Stocks Rise on Friday

ManpowerGroup, Microsoft and Philip Morris jump on earnings

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Jul 19, 2019
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Shares of ManpowerGroup Inc. (MAN, Financial) rose more than 1% after the company posted second-quarter results on Friday. Revenue declined 5.1% from the prior-year quarter to $5.37 billion, falling $40 million short of expectations. The company posted earnings of $2.11 per share, beating analysts' estimates by 11 cents.

"We delivered solid results in the second quarter, reflecting the significant variations we are seeing across global labor markets," Chairman and CEO Jonas Prising said. "We are making operational and strategic progress and continue to invest in technology for every stage of the HR value chain as this remains core to everything we do today and in the future.” Â

Looking ahead to the third quarter, ManpowerGroup expects diluted earnings per share in the range of $1.88 to $1.96.

During the quarter ended March 31, Chuck Royce (Trades, Portfolio) reduced his holding by 6.63% to 534,746 shares.

Shares of Philip Morris International Inc. (PM, Financial) gained more than 1% on Friday after announcing second-quarter results. The company posted earnings of $1.46 per share on $7.7 billion in revenue, a 0.4% year-over-year decline. The company beat earnings estimates by 13 cents and revenue expectations by $280 million.

During the quarter, the earnings before interest and taxes margin inched up 170 basis points to 41.7% on the back of an increase in sales volumes of heated tobacco units.

The adjusted operating income margin, excluding currency, rose 2.4 points to 41.4% on a like-for-like basis.

During the quarter ended June 30, the T Rowe Price Equity Income Fund boosted its stake by 2.58% to 3,185,000 shares.

Shares of Microsoft Corp. (MSFT, Financial) swelled more than 1% on Friday after the company announced fourth-quarter results. Revenue grew 12.1% from the prior-year quarter to $33.72 billion, beating expectations by $920 million. Earnings of $1.37 per share also beat estimates by 50 cents.

During the quarter ended June 30, Steven Romick (Trades, Portfolio) trimmed his stake by 5.29% to 2,175,900 shares.

Disclosure:The author holds no positions in any stocks mentioned.

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