Happy Hump Day!
Jim Cramer is out this morning, so Jeff Marks--senior portfolio analyst with Cramer's Action Alerts PLUS--has some big shoes to fill.
And while I'm still carefully watching the moves happening in GameStop (GME) - Get GameStop Corporation Report and AMC (AMC) - Get AMC Entertainment Holdings Inc. Class A Report (and I still see you there, BlackBerry), there was an earnings bonanza last night.
We heard from Starbucks (SBUX) - Get Starbucks Corporation Report, Microsoft (MSFT) - Get Microsoft Corporation Report and then we received Boeing's (BA) - Get The Boeing Company Report earnings this morning.
Let's start with Starbucks. The company reported first-quarter revenue of $6.75 billion with earnings of 61 cents per share. Analysts were expecting Starbucks to report revenue of $6.93 billion with earnings of 55 cents per share.
Then there's Microsoft. The company reported profits for the three months ending in December, the company's fiscal second quarter, came in at $2.03 per share, a 34% increase from the same period last year and well ahead of the Street consensus forecast of $1.64 per share. Group revenues, Microsoft said, rose 17% to $43.1 billion, again topping analysts' estimates of $40.2 billion tally.
And, finally, Boeing. The company posted adjusted core loss for the three months ending in December was pegged at $15.25 per share, down from a profit of $2.33 per share over the same period last year and sharply lower than the Street consensus forecast of a loss of $1.80 per share. Boeing booked charges of more than $8 billion over the quarter including $6.5 billion linked to delays in the 777X wide-body jet, which won't be pushed into service until late 2023.
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