Following a sluggish Monday, the stock market posted meager gains thanks in part to the energy sector’s continuing slow-ooze upward. The S&P 500 reversed yesterday’s trend by crawling 0.2% higher, while the Dow Jones Industrial Average improved by 0.1% Tuesday.
The wave of spring earnings reports continued last night, with eBay Inc (NASDAQ:EBAY), Buffalo Wild Wings (NASDAQ:BWLD) and AT&T Inc. (NYSE:T) all reporting earnings.
Here are the details that will have them moving at the opening bell today:
AT&T Inc. (T)
AT&T shares look likely to open Wednesday a little lower despite some better-than-expected earnings.
When adjusted for one-time expenses, the telecommunications giant earned 72 cents for the quarter, besting expectations by 3 cents. Revenues of $40.5 billion were in line with Wall Street estimates.
Perhaps the pessimism is coming on the fact that AT&T lost 54,000 net video subscribers, adding 328,000 subscriptions on the DirecTV side, but shedding 382,000 through U-Verse.
Net wireless additions also slowed, from 441,000 in the year-ago period to just 129,000 in the most recent quarter.
AT&T was off by about 1% before Wednesday’s open.
Buffalo Wild Wings (BWLD)
Buffalo Wild Wings were set for a big Wednesday plunge amid a roundly disappointing first-quarter earnings report.
BWLD reported Q1 earnings of $1.73 per share, missing Wall Street estimates by 4 cents, and sales of $508.3 million fell well short of the consensus expectation for $529.9 million.
Outlook disappointed too, with Buffalo Wild Wings projecting profits of $5.65 to $5.85 per share for the full year, vs. Wall Street estimates for $6.10 per share.
BWLD is mired in a downtrend stretching back to its September highs. Shares were off some 30% from that point before Tuesday night’s results and subsequent selloff. Now, Buffalo Wild Wings stock is threatening to plunge below its previous low-price mark of around $135 set in February.
eBay Inc (EBAY)
At least for right now, EBAY gets to enjoy a little positivity following its spinoff of PayPal Holdings Inc (NASDAQ:PYPL). The e-commerce and auction website’s stock looks to benefit from the reaction to its fiscal first-quarter results.
EBAY posted quarterly profits of 47 cents per share, topping estimates by 2 cents, and revenues also beat the Street, coming in at $2.14 billion vs. a bar of $2.08 billion. Those ales were up 3.7% year-over-year.
Pushing results higher were eBay’s classified ads business, as well as its ticket subsidiary, Stubhub — the latter of which grew sales 34% year-over-year.
Earnings projections did come up a bit shy, though, with a stated range of 40 to 42 cents per share coming in shy of the analysts’ mark for 44 cents.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
