3 Stocks to Watch on Thursday: Facebook Inc (FB), Metlife Inc (MET) and Symantec Corporation (SYMC)

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Wednesday proved to be a turnaround day for U.S. stocks as all major indices posted gains, while oil surged 0.2%. The S&P 500 Index was higher by a fraction of a percentage, the Dow Jones Industrial Average grew 0.1% and the Nasdaq Composite crawled 0.5% higher.

3 Stocks to Watch on Wednesday: Facebook Inc (FB), Metlife Inc (MET) and Symantec Corporation (SYMC)Several companies reported their quarterly results, including Facebook Inc (NASDAQ:FB), Metlife Inc (NYSE:MET) and Symantec Corporation (NASDAQ:SYMC).

Here’s what you should know:

Facebook Inc (FB)

Facebook posted its most recently financial data yesterday.

The company revealed that it ended fiscal 2016 with a bang as fourth-quarter revenue was well ahead of estimates. The site raked in $8.83 billion, higher than the $8.52 billion that analysts expected. Earnings came in at a stellar $1.41 per share, which was well ahead of the $1.31 per share that analysts polled by Thomson Reuters were calling for over the three months.

One of the most important milestones that Facebook reached to end the year came in the form of its active monthly users around the globe, which rose to 1.86 billion. The figure was slightly ahead of the 1.84 billion that was projected. Active daily users amounted to 1.23 billion by the end of the month, about 40 million higher than estimates.

FB grew 0.7% after hours Wednesday, but Facebook stock is down 1.2% today.

Metlife Inc (MET)

Metlife’s quarterly figures missed the mark Wednesday afternoon. The insurance company announced that it earned $1.28 per share, which was weaker than the $1.35 per share that Wall Street was expecting, according to analysts surveyed by Bloomberg. Operating profit for the period came in at $1.42 billion, which was $40 million higher than what Metlife posted the prior year in the same quarter. Overall, the company posted a net loss of $2.09 billion.

The disappointing results can be partially attributed to the company’s decision to increase interest rates, which reduced the carrying value of its derivatives book. Investment income was a bright spot, enjoying a 2.5% boost to $5.04 billion. Operating earnings in Europe and Asia were also strong, wafting up 33.3% and 22%, respectively.

MET stock fell 1.6% after the bell yesterday, and is down 5.2% in early morning trading.

Symantec Corporation (SYMC)

Symantec Operation had mixed results for its fiscal third quarter of 2016.

Earnings minus items came in at 32 cents per share, rising 23% compared to the third quarter of 2015. The figure topped analysts’ non-GAAP profit of 28 cents per share. Revenue was slightly higher than projections at $1.09 billion, beating the consensus estimate by $10 million.

The security software company raked in some profit from its 2016 acquisition of Blue Coat Systems for $4.65 billion. The company also bought LifeLock for $2.3 billion, improving the its identity-theft protection services segment.

For the current quarter, Symantec expects to bring in earnings of 28 cents per share. Meanwhile, revenue will be similar at around $1.08 billion.

SYMC shares dipped 0.1% after Tuesday’s market close, and is currently down 1.1% Thursday. The decline may be caused by the lack of growth from its third quarter to the current fourth quarter.


Article printed from InvestorPlace Media, https://investorplace.com/2017/02/3-stocks-watch-thursday-facebook-inc-fb-metlife-inc-met-symantec-corporation-symc/.

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