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Friday, January 17, 2020

=Regions Financial (RF) reported earnings on Fri 17 Jan 20 (b/o)

Regions Fincl misses by $0.01, reports revs in-line
Reports Q4 (Dec) earnings of $0.38 per share, $0.01 worse than the S&P Capital IQ Consensus of $0.39; revenues rose 3.0% year/year to $1.48 bln vs the $1.48 bln S&P Capital IQ Consensus.

Thursday, January 16, 2020

=CSX (CSX) reported earnings on Thur 16 Jan 20 (a/h)

CSX beats by $0.01, misses on revs

  • Reports Q4 (Dec) earnings of $0.99 per share, $0.01 better than the S&P Capital IQ Consensus of $0.98; revenues fell 8.2% year/year to $2.88 bln vs the $2.94 bln S&P Capital IQ Consensus.
  • Revs were lower due to lower volumes and negative mix from coal market headwinds.
  • Merchandise Volume: Chemicals - Declined due to reduced natural gas liquids, fly ash and sand shipments. Agricultural and Food Products - Increased due to gains in ethanol as well as sweeteners and oils. Automotive - Declined due to lower North American vehicle production. Minerals - Increased due to higher shipments for highway construction and paving projects. Forest Products - Declined due to reduced pulpboard shipments. Fertilizers - Gains on short-haul phosphate shipments were offset by declines in long-haul fertilizer shipments. Metals and Equipment - Declined due to reduced metals shipments, primarily in the steel, construction and scrap markets.
  • =Tesla (TSLA) downgraded to Underweight from Equal-Weight at Morgan Stanley

    =3D Systems (DDD) : downgraded at Loop Capital

    • Jan-16-20  Downgrade Loop Capital  Hold → Sell  $9 

    3D Systems Corp. (NYSE: DDD) was downgraded to Sell from Hold with a $9 target price (versus an $11.90 close, after a 2.6% gain) at Loop Capital. 3D Systems had a consensus target price of $9.58, and its 52-week trading range is $6.47 to $14.50.

    =XPO Logistics (XPO) : CEO seeks to break up company

    Late Wednesday, XPO Logistics announced it's undertaking the review to enhance shareholder value. XPO stock continues to trade well below the sum-of-the-parts value and at a big discount to pure-play peers, CEO Bradley Jacobs noted in a statement.

    It has not set a timetable for completing the review process.

    But the company ruled out selling or spinning off its North American less-than-truckload unit, which is key to XPO Logistics' growth.

    In the first nine months of 2019, the segment contributed to 36% of total revenue, up from 34% in the year-ago period. In 2021, company expects it to generate $1 billion in EBIT from the less-than-truckload business.

    In February 2019, XPO Logistics warned that its largest customer was downsizing the amount of business it does with XPO. That customer was widely believed to be e-commerce giant Amazon, which is building out its own fleet of delivery vehicles and aircraft. The warning took XPO stock down to a two-month low.