Here are three key things to know about stocks
- The Dow Jones Industrial Average fell on Tuesday after earnings disappointed. The S & P 500 was down 14 times in 14 sessions.
- Caterpillar Inc. (CAT) lost 7.6% despite outperforming its third-quarter earnings and revenue projections.
- 3M Co. (MMM) lost 4.4% after # 3 Quarterly earnings missed expectations and the company lowered its full-year earnings guidance.
Wall Street Overview
Stock markets plummeted on Tuesday, October 23, as investors focused on slowing economic growth and smoldering geopolitical tensions and earnings from blue chips Caterpillar Inc. (CAT) and 3M Co. (c) MMM) disappointed
The Dow Jones Industrial Average fell 1
Caterpillar Inc. (CAT) declined 5.9% on Tuesday as increased demand caused some challenges in the supply chain, despite outperforming third-quarter earnings and revenue estimates.
The Deerfield, Illinois-based construction and mining equipment business achieved adjusted earnings of $ 2.86 per share on revenues of $ 13.5 billion. According to FactSet, the analysts had expected a profit of $ 2.85 on sales of $ 13.26 billion.
The company reiterated full-year earnings per share of $ 11 and $ 12 per share, compared with $ 11.64 per share
3M Co. (MMM) fell 4, 4% after third-quarter earnings failed to meet expectations and the company lowered its full-year earnings guidance.
The Post-its manufacturer posted a profit of $ 2.58 per share in the third quarter, missing estimates of $ 2.70. Sales of $ 8.15 billion also missed expectations of $ 8.41 billion, according to FactSet.
3M lowered its full-year adjusted earnings estimate to $ 9.90 per share, which is below the $ 10.28 consensus estimate of a stake in Jim Cramer's Action Alerts PLUS member club. Would you like to be warned before Jim Cramer buys or sells MMM? Learn more now.
The Win of McDonald's Corp. (MCD) third quarter of $ 2.10 per share, Wall Street expectations exceeded $ 1.98. Sales of $ 5.37 billion also exceeded the forecasts. Same-restaurant sales in the quarter increased by 4.2%. The share rose by 6.3%.
Verizon Communications Inc. (VZ) posted adjusted earnings of $ 1.22 per share for the third quarter, 3 cents more than expected. Revenues of $ 32.61 billion exceeded $ 32.5 billion. Wireless revenue increased 6.5% in the quarter to $ 23 billion. Shares rose 4.1%.
Adjusted earnings of United Technologies Corp. (UTX) in the third quarter of $ 1.93 exceeded analyst estimates by 11 cents. Revenues of $ 3.44 billion surpassed $ 3.33 billion. The company also increased its earnings and revenue forecast for 2018. Equities rose 2.9%.
More videos on TheStreets Youtube Channel – Would you rather hear Jim Cramer? His new podcast "Cramer Live" on Soundcloud . Biogen Inc. (BIIB) returned $ 7.40 per share in the third quarter, higher than $ 6.78 per share. The share eased slightly.
Harley-Davidson Inc. (HOG) posted stronger profits than expected in the third quarter, confirming its full-year shipping and profit forecast as the legendary motorcycle maker continued to spat out of its trade war with Donald Trump. Harley-Davidson fell 2%.
The board of aluminum product maker Arconic Inc. (ARNC) is considering a $ 11 billion takeover bid received on Friday, October 19, from the buyout company Apollo Global Management LLC (APO). , Reuters reports, citing people who are familiar with the matter.
Apollo's offer estimates Arconic at between $ 23 and $ 24 per share, according to one source. Arconic Shares Drop 3.1% to $ 20.80 on Tuesday
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