3 Stocks to Watch on Thursday: Nokia Oyj (ADR) (NOK), Amgen, Inc. (AMGN) and PayPal Holdings Inc (PYPL)

NOK and PYPL both jumped out of their chairs over Q1 earnings, but AMGN is struggling on a disappointing quarter

PayPal Holdings, Inc. (PYPL)

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U.S. equities took an unexpected hit on Wednesday despite the unveiling of a tax plan from President Donald Trump that would seem to benefit corporations and individuals alike. The S&P 500 dipped 0.1%, the Dow Jones Industrial Average fell 0.1% and the Nasdaq Composite lost a fraction of a percentage.

3 Stocks to Watch on Thursday: Nokia Corporation, Amgen Inc. and PayPal Holdings, Inc.This morning, a couple of stocks are pushing higher on their most Thursday earnings announcements, including Nokia Oyj (ADR) (NYSE:NOK) and PayPal Holdings Inc (NASDAQ:PYPL). Amgen, Inc. (NASDAQ:AMGN), however, is having a rough go of things in early morning trade.

Here’s what you need to know heading into Thursday’s action.

Nokia Oyj (ADR) (NOK)

NOK shares jumped amid a clear sign of an improving business and a revenue beat for its latest quarter.

The company earned 3 cents per share for the quarter, matching estimates. That came on a 3.8% decrease in revenues that topped estimates of $5.33 billion — and while the figure was lower year-over-year, it was a much slower decline than the year-ago period’s 14% dip.

Said CEO Rajeev Suri: “We slowed the rate of topline decline and generated healthy orders in what is typically a seasonally weak quarter for us.”

The acquisition of Alcatel-Lucent did ding the company’s pre-tax loss, which expanded in Q1.

Nokia reiterated its full-year outlook of 1.2 billion euros in cost savings, as well as 250 million euros in non-IFRS financial income and expenses.

NOK stock was shooting 7% higher ahead of Thursday’s bell.

Amgen, Inc. (AMGN)

AMGN stock is on its way down after the company’s first-quarter earnings report, which included big disappointments from some of its key drugs.

The biotechnology firm did score an earnings beat, bringing in $3.15 per share versus expectations for $3.01 per share.

However, sales slipped by 1% to $5.5 billion, coming short of the mark for $5.6 billion. That was thanks in large part to a steep decline in sales of its arthritis drug, Enbrel, off 15% year-over-year and shy of analyst estimates.

The company also underwhelmed with its newest treatment, the cholesterol drug Repatha. Repatha garnered just $49 million in sales for Q1, against analyst estimates of $71.6 million.

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Article printed from InvestorPlace Media, http://investorplace.com/2017/04/3-stocks-to-watch-on-thursday-nokia-oyj-adr-nok-amgen-inc-amgn-and-paypal-holdings-inc-pypl/.

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