Monday was a down day for U.S. equities, with energy stocks suffering the most, posting a 1.8% loss. The S&P 500 Index lost 0.6%, the Dow Jones Industrial Average fell 0.6% and the Nasdaq Composite was 0.8% lower than it was Friday by day’s end.
Here’s what you should know ahead of today’s action:
Advanced Energy (AEIS)
Advanced Energy Industries shares were booming on an earnings report that thrilled investors.
In its fourth quarter, the company — which is responsible for the manufacturing of power and control products used in semiconductors — earned $40.4 million, or $1.06 per diluted share.
In the third quarter, Advanced Energy posted earnings of $29 million, or 73 cents per share. Meanwhile, revenue came in at $135.3 million, topping the year-ago figure of $86.9 million.
Semiconductor and service revenues were strong over the period, which helped bolster earnings despite a weaker industrial application segments to close out the year.
For fiscal 2016, Advanced Energy raked in $483.7 million, marking $68.9 million rise year-over-year. For the year, the company’s profit was $116.9 million, or $2.92 per share, which is 89 cents per share higher than in 2015.
The semiconductor services provider expects to earn between $141 million and $151 million in the first quarter of 2017.
AEIS stock grew enjoyed a 7% surge after hours Monday, and is now up 1.9% in early morning trading.
GGP Inc (GGP)
General Growth Properties revealed its quarterly earnings in the afternoon. The company’s financial results were in line with expectations, with funds from operations clocking in at $412.2 million, or 43 cents per share. Wall Street had anticipated earnings of the same amount in its fourth quarter.
The real estate investment trust (REIT) had net income of $232.5 million after depreciation and amortization. This total amounts to a positive 24 cents per diluted share.
Net sales for the three-month period that took place in the fall and winter amounted to $610.3 million. Four analysts surveyed by Zacks were calling for revenue of $606.7 million. Over the course of its fiscal year, General Growth Properties raked in $1.47 billion in funds from operations, tallying up to $1.53 per share. Revenue was $2.35 billion.
In the first quarter of fiscal 2017, the REIT predicts that FFO somewhere between 35 cents to 37 cents per share. For the full year, this statistic will be around $1.56 to $1.61 per share, slightly higher than 2016.
GGP stock eked 0.6% higher after the bell yesterday and is trading up 3.4% as of this writing.
Sanmina Corp (SANM)
Sanmina also had earnings data to report as we wrap up the first month of the new year. The contract electronics manufacturer reported earnings of $44.9 million, or 58 cents. Adjusted for one-time gains and costs, the company brought in a profit of 75 cents per share.
The Wall Street consensus estimate was calling for earnings in the range of 67 cents to 72 cents per share on a non-GAAP basis. Additionally, Sanmina announced revenue of $1.72 billion over the three months that made up the company’s first quarter of fiscal 2017.
The figure also topped analysts’ projections of $1.69 billion by a narrow margin. For its fiscal second quarter, the company expects to bring in between $1.68 billion and $1.73 billion.
Additionally, earnings will likely be in the range of 67 cents to 72 cents per share on a non-GAAP basis, according to company projections. Analysts expect Sanmina to earn 66 cents per share in the quarter, or revenue of $1.65 billion.
SANM shares skyrocketed 10.9% after Monday’s market close, but has since tempered its rally to a gain of 2%.