US stock futures fell Friday morning. Carnival, Nike, Winnebago, FedEx, and BlackBerry released earnings. Nike and FedEx exceeded expectations, while others showed mixed results. Market volatility and earnings season are key themes impacting investor sentiment.
Micron Technology reported mixed Q1 earnings, exceeding EPS expectations but falling short on revenue. Q2 guidance was significantly below estimates, leading to a sharp 17.7% drop in share price. Analysts lowered price targets, though some maintain a positive outlook. The company anticipates a return to growth in the second half of the fiscal year, driven by AI.
Paychex reported strong Q2 results, exceeding analyst expectations with 5% sales growth and an adjusted EPS of $1.14. Revenue growth was seen across key segments, driven by client growth and product penetration. The company maintains a positive outlook for fiscal 2025, forecasting further revenue and EPS growth.
Accenture exceeded Q1 fiscal 2025 expectations, reporting $17.69 billion in sales, exceeding the $17.12 billion consensus. Growth was seen across consulting and managed services, with strong new bookings, including $1.2 billion in generative AI. The company raised its full-year revenue growth outlook.
U.S. stock futures rose, but several stocks fell sharply in pre-market trading. Lamb Weston’s earnings miss and lowered outlook caused an 18.6% drop in its shares. Micron Technology also underperformed, while other companies like Abacus Life and Lennar experienced significant declines. The market shows volatility, highlighting the need for careful investment strategies.
CarMax (KMX) is set to report its Q3 earnings on December 19th. Analysts project earnings of 61 cents per share and $6.05 billion in revenue. Analyst ratings are mixed, ranging from Underweight to Outperform, reflecting uncertainty about the company’s prospects. Investors should consider the diverse opinions and macroeconomic factors before making investment decisions.
Several major companies, including Accenture, Micron, Nike, and FedEx, are set to release their quarterly earnings, potentially impacting the US stock market. Micron’s results were mixed, while others showed positive sentiment. Investors await updates on the semiconductor, sportswear, housing, and logistics industries.
Nike is set to release its second-quarter financial results, where new CEO Elliot Hill will outline his vision. Analysts predict lower revenue but expect earnings per share to exceed expectations. The report will focus on product innovation, brand strategy, and the company’s path to growth. While some analysts maintain positive ratings, most have lowered their price targets due to recent underperformance and uncertainty around a full turnaround. The market awaits Hill’s strategic direction.
ABM Industries reported Q4 FY24 earnings, exceeding sales expectations but falling short on profitability. Revenue grew 4% YoY to $2.18B, driven by Technical Solutions and Aviation, while operating profit plummeted 81.9%. Adjusted EPS beat estimates but was down 11% YoY. ABM anticipates revenue, margin, and earnings growth in FY25 but its stock dropped 8.58% following the announcement.
Toro Company (TTC) reported lower-than-expected fourth-quarter 2024 sales and earnings, resulting in a stock price decline. While sales increased 9% year-over-year to $1.076 billion, missing the consensus of $1.09 billion, and adjusted EPS reached $0.95, missing the consensus of $0.96. Despite challenges, Toro expects 0-1% net sales growth in FY25.
