What a day for stock market! Finally the stock market has a positive move with the earnings to back it up. Caterpillar (CAT) starting out the day destroying analyst estimates! Destroying! Destroying! Destroying! Man I’m excited. Yeah Buddy!!! CAT is a solid indicator for the future of the economy. They proved today that business and other countries are loosening their pocket books and putting money to work. CAT reported earning of $1.09 a share topping estimates of $0.85 a share and beating revenue estimates of $9.8 Billion coming in at $10.41 Billion. Another positive is they raised their full year estimates to $3.15 to $3.85 a share on sales between $39 to $42 Billion up from $2.50 to $3.25 a share with sales of $38 to $42 Billion according to http://finance.yahoo.com/ reported by Reuters. Although CAT is still cautious about the future of the economy their numbers were definitely something to smile about compared to last years earnings. Now that I’m done ranting about the Peoria Powerhouse better known as Caterpillar lets move onto the rest of the week’s earnings.
Weatherford International (WFT)-Beat Estimates $0.11 vs. $0.07 predicted by analysts. Upside surprise is always good for a beaten down stock like WFT. You should see higher prices in the future. I believe the bad news has finally run its course with WFT. This is still undervalued to its peers. If you want to make some quick bucks this is your huckleberry!
Apple (AAPL)-Beat Estimates $3.51 vs. $3.12 predicted by analysts. This also was 160% higher than last year’s earnings of a $1.35 a share. These are great numbers! Great iPhone and iPad sales. This will continue to be a strong stock.
Goldman Sachs (GS)-Beat Estimates $2.75 vs. $2.08 a share. Although earnings were less than last years 2nd quarter results this stock has been crushed and beaten down behind belief by the government. With the SEC settlement behind them I expect Goldman to come back strong. This is a turnaround, but you should never bet against Goldman Sachs because in the end they will win!
Also, on a good note for the oil service companies the 2nd largest player Halliburton (HAL) had a phenomenal quarter and beat estimates by a long shot $0.52 vs. $0.37 a share predicted by analyst that’s over 40% higher than expected. It definitely looks like oil production is starting to pick up and the recent earnings by the oil service companies brings a smile to my face since I truly am an oil man! With Schlumberger (SLB) reporting tomorrow I believe you will here a positive spin with SLB. They are the largest oil service company and the industry leader. I would expect nothing less than an earnings estimate beat by SLB. They are the leader for a reason. They are the linchpin of the oil service companies!
As you may notice the earnings for the stocks that I have selected for the prediction game are starting to come alive. I still would continue to invest in all my picks. (WFT, AAPL, GS, INTC, CAT) Although these companies have been quite volatile (even to my liking) they have the tendency to come back faster and harder then other stocks in the market. Don’t forget about my other stock I suggested Westport Innovations (WPRT) up 5.59% today. Still yet to be profitable WPRT has a bright future ahead of them.
Well that wraps it up for today. What a great day! I will definitely sleep well tonight! LOL! Watch SLB tomorrow morning. It should be a good one!
(All research was done @ http://finance.yahoo.com/)
Clay-
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