A New Jobs Report and Record Earnings: Afternoon Buzzers
The market is a busy place this Friday. To start, the ADP reported that the United States economy added 158,000 private sector jobs in October, above the six-month average of 116,000.
Starbucks (NASDAQ:SBUX) shot up as much as 10.62 percent Friday after posting fourth-quarter earnings that came in at $0.46 per share, $0.01 above estimates. Revenue grew 11 percent year over year to a record $3.4 billion. Highlights include 7 percent comparable-store growth, and a 1,200-store expansion plan for 2013.
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Chevron (NYSE:CVX) posted third-quarter earnings that came in at $2.69 per share, missing estimates by $0.20. Revenue shrank 9.1 percent year over year to $58 billion. Chevron said its quarterly numbers were hurt by oil prices and unfavorable foreign currency exchange.
Hess Corp. (NYSE:HES) is trekking as much as 1.48 percent higher this afternoon on third-quarter earnings that came in at $1.64 per share, beating estimates by $0.45. Revenue grew 6 percent year over year to $9.1 billion.
Alpha Natural Resources (NYSE:ANR) posts third-quarter earnings of -$0.16 per share, beating estimates by $0.28. Revenue shrank 29 percent year over year to $1.63 billion. Shares climbed as much as 4.74 percent Friday. Energy is building around coal stocks as the election grows closer.
American solar manufacturer First Solar (NASDAQ:FSLR) dropped as much as 7.87 percent in Friday’s afternoon. Third-quarter earnings came in at $1.27 per share, beating estimates by $0.23 per share. However, revenue shrank 17 percent year over year to $839.1 million, missing by estimates by $127.4 million.
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