Oil prices fell 2.4% on Monday, playing a role in the energy industry’s early week decline. It was a rough day for the stock market as the S&P 500 lost 0.3%, while the Dow Jones Industrial Average fell 0.4%.
A few companies posted their quarterly earnings results, including Express Scripts Holding Company (NASDAQ:ESRX), Las Vegas Sands Corp. (NYSE:LVS) and Gilead Sciences, Inc. (NASDAQ:GILD).
Here’s what you need to know:
Express Scripts Holding Company (ESRX)
Express Scripts’ second-quarter earnings were in line with estimates yesterday.
The pharmacy benefit manager reported profit of $1.57 per share, excluding certain items. Additionally, the company’s revenue totaled $25.22 billion, missing analysts’ expectations by $200 million.
Express Scripts expects earnings of $1.72 to $1.76 a share for the current period, while analysts expect $1.72 a share.
The company’s adjusted prescription claims dipped 1.8% to 315.3 million.
ESRX shares fell 0.4% after the bell Monday, though they were climbing again this morning.
Las Vegas Sands Corp. (LVS)
Las Vegas Sands’ stock rose despite the company’s earnings miss.
Over the course of its second quarter, the casino corporation reported earned 52 cents a share on an adjusted basis. Thomson Reuters-polled analysts had predicted earnings of 56 cents a share.
Additionally, Las Vegas Sands revealed that revenue amounted to $2.65 billion, while analysts polled by the mass media company expected revenue of $2.76 billion.
However, there is reason to be optimistic for those who have a stake on the company, as June 2016 mass gaming revenues was better compared to the year-ago period — the last time this happened was almost two years ago.
LVS stock popped 4.8% in after-hours trading yesterday.
Gilead Sciences, Inc. (GILD)
Gilead Sciences said sales of its hepatitis C drugs slipped 19% in its most recent period.
Earnings for the biopharmaceutical company’s second quarter beat the Wall Street projection of $3.02 a share by six cents.
Revenue was slightly lower than the consensus estimate for Gilead at $7.78 billion, versus the $7.79 billion that analysts had called for.
Sovaldi — one of the company’s hepatitis C drug — was a bright spot on Gilead’s quarter as sales rose 5.2%.
GILD shares fell 4.2% after the bell.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
