In the midst of the COVID-19 shut downs and negative economical impact, there are some highlights. There are a few stocks to keep an eye on as they are making movement on the market. Stocks that are impacted well by an onslaught of shoppers looking for essentials have shown unexpected increases. While, airlines and others have taken a hit in hopes of a late-year recovery.
As companies have reported their first quarter results, keep in mind that most are opting to withdraw the full year projections since the Coronavirus crisis has changed these forecasts drastically. For some, this has meant profit. For others, it means a downturn. Whether these downturns are temporary or permanent are yet to be determined. Companies like Lyft, LYFT, has withdrawn its 2020 estimates entirely. Macy’s will be working to raise as much as $5 Billion dollars in debt. Similarly, travel site Expedia is working to sell off shares as travel was hit hard with the pandemic.
The COVID-19 freeze on many businesses and consumers reflect on some stocks that otherwise were expected to do well. While others surprisingly did far better than originally expected. Here are some major stocks fared during the first quarter.
AT&T, traded as T on the market, has reported first quarter earnings of 84 cents per share. This comes in at just a penny lower than what was originally anticipated.
Delta Air Lines, traded as DAL, has been dipping with losses of more than fifty cents per share during the first quarter. Compared to a year ago, numbers have dipped 18%. However, Delta is expecting to put the CARES Act funds to good use by saving cash cutting it in half when considering daily cash-burn rates.
Kimberly-Clark, traded as KMB, came in earning $2.13 a share in the most recent quarter. This was above the $1.97 per share estimates. Revenue was also up by 11% in organic sales. These surprise increases are probably a direct result of panic buying as consumers stocked up on paper product goods.
Quest Diagnostics, traded as DGX, reported first quarter earnings of 94 cents per share which is 5 cents per share above original estimates. It is no surprise with these numbers that revenues are also up above what was originally thought they would be. Though, the amount of testing has dropped significantly in recent weeks. Also note that Quest started COVID-19 antibodies testing using tests that had been manufactured by Abbott Laboratories, ABT and PerkinElmer, PKI. Meanwhile, Biogen, traded as BIIB, has a first quarter earning of $9.14 per share, far above the anticipated $7.73.
Netflix, traded as NFLX, added an additional 16 million subscribers with people being ordered to stay at home. This was more than twice the amount anticipated but expects this to taper off as people go back to work. Still, the company had a $1.57 per share profit.
Chipotle Mexican Grill, traded as CMG, had a first-quarter $3.08 per share earnings which is 18 cents more per share than the original estimates. During the virus crisis, the restaurant chain saw an 80% increase in online sales.