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

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

The company did keep its revenue guidance intact, however, reaffirming its outlook of $22.3 billion to $23.1 billion. Moreover, it raised earnings guidance to a range of $12-$12.60 per share, up from $11.80-$12.60.

But the revenue miss was enough to spook investors, who sold AMGN stock off by about 3% in Thursday’s early trade.

PayPal Holdings Inc (PYPL)

PYPL shares were moving steadily higher on Thursday after the company reported a first-quarter earnings beat.

The payment services provider earned 44 cents per share on an adjusted basis, compared to the 41 cents per share that the Wall Street outlook called for. That number was also 19% better than the year-ago quarter. Revenue was also strong at at $2.975 billion, coming in 17% higher year-over-year topping projections for $2.94 billion.

There were other positives, too, such as a 50-basis-point improvement in operating margins, and 6 million new accounts added over the quarter, bringing its total to 203 million.

“With another quarter of strong financial results, we continue to deliver on our vision to democratize financial services for our consumers and drive the global transition from cash to digital payments,” said Dan Schulman, president and CEO of PayPal, in a statement.

The company also announced a $5 billion share repurchase program.

PYPL shares were up 4% in Thursday’s premarket action.


Article printed from InvestorPlace Media, https://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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