FinancialBuzz.com: 'Earnings Recap' Week Ending March 8th, 2019

NEW YORK, March 8, 2019 /PRNewswire/ -- U.S. markets were swayed by the ongoing trade war negotiations this week once again. Markets began the week during Monday's pre-market hours stronger, however, stocks quickly began to plunge throughout the day followed by news regarding the U.S.-China trade wars. Equities were initially up following the news that the U.S. and China were nearing a deal. Despite the optimistic news, investor sentiment was focused elsewhere, causing markets to crash. The consensus regarding the news resulted in a major selloff, causing the Dow Jones Industrial Average to fall by 400 points intraday. Investors argued that the news had already been priced into indexes as the U.S. markets continued the bearish week with investors focused on the ongoing trade war negotiations on Wednesday. The Federal Reserve's Beige Book report also contributed to the weaker markets. The report noted that most central bank districts reported "slight-to-moderate" growth in late January and February. On Thursday, the Dow Jones plummeted by as much as 300 points after the European Central bank slashed its growth forecast and pledged monetary support for its economy. The ECB also announced new strategic measures to support the slowing economy, such as long-term loans as the U.S. markets were on track to close in the red for the fourth straight day on Thursday. The Dow Jones Industrial Average fell as much as 715 points or 2.7% this week while the S&P 500 fell by as much as 69 points or 2.5%, and the Nasdaq Composite edged lower by 216 points or 2.8%. NIO Inc. (NYSE: NIO), Dollar Tree, Inc. (NASDAQ: DLTR), Abercrombie & Fitch Co. (NYSE: ANF), The Kroger Co. (NYSE: KR), Costco Wholesale Corporation (NASDAQ: COST)

"It's not about what the ECB is doing," said Mike Loewengart, Chief Investment Officer for E*TRADE Capital Management in New York, "it's what they said about their expectations for growth and, really, it's the about-face from what they said a couple of months ago when they discussed ending their version of quantitative easing. So that's what's really going on. People are resetting their growth expectations and investors are responding accordingly." Loewengart said the ECB had announced that it was ending its stimulus "because they felt they were getting to a pretty good place from a growth perspective - That's not what we heard this morning," he continued "We heard the opposite. And that's why markets are down."

For our latest "Buzz on the Street" Show featuring "Earnings Recap" please visit: https://www.youtube.com/watch?v=h6U9xYvqYQ8

NIO Inc. (NYSE: NIO) a Chinese electric vehicle manufacturer, reported its fourth quarter financial results after market close on Tuesday. The Company topped revenue estimates, but reported wider-than-expected earnings loss, sending shares 16% lower on Wednesday morning. For the quarter, Nio reported an earnings loss of RMB 3.37 per share or USD 0.49 per share on revenue of RMB 3.43 Billion or USD 499.7 Million. Analysts polled an earnings loss of USD 32 cents per share on revenue of USD 493 Million. In the fourth quarter, Nio produced 8,069 ES8 vehicles, which increased by 91.8% compared to 4,206 in the third quarter. The Company delivered 7,980 in the quarter, increasing by 144.2% from 3,268 in the third quarter.

For our latest "Buzz on the Street" Show featuring "Earnings Recap" please visit: https://www.youtube.com/watch?v=h6U9xYvqYQ8

Dollar Tree, Inc. (NASDAQ: DLTR) reported its fourth quarter financial results before market open on Wednesday and surpassed estimates, sending shares higher by 5.7% throughout the day. The discount savings retailer reported earnings of USD 1.93 per share on revenue of USD 6.21 Billion. Analysts expected earnings of USD 1.89 per share on revenue of USD 6.2 Billion. Despite the beat, Dollar Tree saw declining sales in the quarter. The same quarter last year, the Company reported revenue of USD 6.36 Billion. However, same-store sales increased by 2.4% year-over-year and also beat estimates of 1.5%.

For our latest "Buzz on the Street" Show featuring "Earnings Recap" please visit: https://www.youtube.com/watch?v=h6U9xYvqYQ8

Abercrombie & Fitch Co. (NYSE: ANF) reported its fourth quarter financial results on Wednesday morning and surpassed estimates in both earnings and revenue. The better-than-expected results sent Abercrombie's shares surging by 17.7% shortly after the opening bell. For the fourth quarter, Abercrombie reported earnings of USD 1.35 on net sales of USD 1.15 Billion. Analysts expected earnings of USD 1.15 per share on revenue of USD 1.13 Billion.

For our latest "Buzz on the Street" Show featuring "Earnings Recap" please visit: https://www.youtube.com/watch?v=h6U9xYvqYQ8

The Kroger Co. (NYSE: KR) reported its fourth quarter financial results on Thursday during pre-market hours and missed estimates, which sent sharing plunging by as much as 12%. For the quarter, Kroger reported earnings of USD 48 cents per share on revenue of USD 28.09 Billion. Analysts projected earnings of USD 52 cents per share on revenue of USD 28.38 Billion. Despite the weaker-than-expected revenue, Kroger was more geared towards expanding its digital sales. Within the quarter, digital sales grew by 58% and also the Company expanded its pickup or delivery to reach 91%.

For our latest "Buzz on the Street" Show featuring "Earnings Recap" please visit: https://www.youtube.com/watch?v=h6U9xYvqYQ8 

Costco Wholesale Corporation (NASDAQ: COST) reported its second quarter financial results after market close on Thursday. The wholesaler reported better-than-expected earnings but missed revenue estimates. Despite the revenue miss, shares gained 4% during aftermarket hours. For the quarter, Costco reported earnings of USD 2.01 per share on revenue of USD 35.4 Billion. Analysts expected earnings of USD 1.30 per share on revenue of USD 36.55 Billion. Costco's revenue rose by 7.3% year-over-year, primarily driven by the adjusted 7.2% increase in comparable sales from the U.S.

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