More earnings reports are due Wednesday morning before opening bell. The Clorox Company (NYSE:CLX), Chesapeake Energy Corporation (NYSE:CHK), Devon Energy Corp (NYSE:DVN), CVS Caremark Corporation (NYSE:CVS) and Comcast Corporation (NASDAQ:CMCSA) are all scheduled to report.
The Clorox Company (NYSE:CLX) is expected to report earnings of $1.06 per share on revenue of $1.4 billion, according to a consensus of analysts polled by Bloomberg Businessweek. That would be a 1.9 percent increase in earnings over the same quarter a year ago. The company has posted positive earnings surprises in three of the last four quarters.
The Electron Global Fund was up 2% for September, bringing its third-quarter return to -1.7% and its year-to-date return to 8.5%. Meanwhile, the MSCI World Utilities Index was down 7.2% for September, 1.7% for the third quarter and 3.3% year to date. The S&P 500 was down 4.8% for September, up 0.2% for the third Read More
Analysts predict that Chesapeake Energy Corporation (NYSE:CHK) will report first-quarter earnings of 25 cents on revenue of $3.2 billion. The company’s last two earnings reports have been positive surprises, although during the first two quarters of last year, its earnings were negative surprises.
The energy company has struggled in recent quarters as its now former CEO Aubrey McClendon has been under fire for some questionable and unethical financial decisions which presented conflicts of interest for him and the company. Shares of the company’s stock jumped immediately after news of McClendon’s departure, signaling investors’ unhappiness with the decisions he has made.
Devon Energy Corp (NYSE:DVN) is expected to report earnings of 57 cents on revenue of $2.4 billion, according to a consensus of analysts polled by Bloomberg Businessweek. According to Forbes, within the last three months, the consensus estimate has dropped from 91 cents per share, indicating signs of concern about the company on Wall Street.
Analysts predict that CVS Caremark Corporation (NYSE:CVS) will report a 1.4 percent decline in revenue year over year to $30.36 billion. The company has had double-digit revenue growth year over year, and its profits have increased in the last three quarters.
Comcast Corporation (NASDAQ:CMCSA) is expected to report earnings of 50 cents per share on revenue of $15.4 billion, according to a consensus of analysts polled by Bloomberg Businessweek. The company posted positive surprises in the first two quarters of last year. It just completed its acquisition of NBC Universal Holdings in March after buying the 49 percent stake from General Electric Company (NYSE:GE).