Today was a large earnings day in several sectors around the market. I will provide a quick summary of some of the more notable reports from the day.
Earnings Review October 30th
- Avon Products Inc. (NYSE:AVP) Avon issued an upbeat third quarter earnings report. It appears that the restructuring plan is now working at AVP.
- Chipotle Mexican Grill (NYSE:CMG) Chipotle beat earnings estimates by 9 cents per share as same-store restaraunt sales increased 12.4%.
- Masco Corporation (NYSE:MAS) Masco profits fell 19% because of the housing slump, but the company affirmed its profit outlook.
- The Proctor and Gamble Company (NYSE:PG) P&G profits grew, but did not meet investors high expectations today, causing the stock to lose 4% of its value.
- Under Armour Inc. (NYSE:UA) Under Armour beat analysts estimates by 6 cents and raised its guidance for the full year 2007 earnings. The stock gained 8.48% today on the heels of these results.
- Wynn Resorts Limited (Nasdaq:WYNN) Wynn reported profits of 67 cents per share versus estimates for 63 cents per share. Occupancy percentages were higher across the board for the company.
- Qwest Communications (NYSE:Q) A huge tax benefit propped up the 3rd quarter numbers here, but excluding the tax benefit results were below estimates. The stock hit a new 52 week low today.
Earnings will continue to be a major news story, but they will primarily take a back seat to the FOMC decision tommorrow, which GrowYourFunds will cover in full.
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