3 Stocks to Watch on Friday: Baidu Inc (ADR) (BIDU), Gilead Sciences, Inc. (GILD) and Mattel, Inc. (MAT)

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Most major U.S. indices bounced back on Thursday after several major tech companies posted their quarterly results, impressing markets. The S&P 500 Index gained 0.1%, the Dow Jones Industrial Average surged 0.3% and the Nasdaq Composite fell 0.1%.

3 Stocks to Watch on Friday: Baidu Inc (ADR) (BIDU), Gilead Sciences, Inc. (GILD) and Mattel, Inc. (MAT)Several companies reported on their latest quarters, including Baidu Inc (ADR) (NASDAQ:BIDU), Gilead Sciences, Inc. (NASDAQ:GILD) and Mattel, Inc. (NASDAQ:MAT).

Here’s how they did:

Baidu Inc (ADR) (BIDU)

Baidu shares plummeted after the company unveiled its quarterly earnings results.

For its third quarter, the company posted revenue that came in at RMB 23.5 billion (approximately $3.53 billion), compared to analysts’ projections of RMB 23.6 billion ($3.56 billion), according to Thomson Reuters. The figure was up 29% year-over-year.

Non-GAAP diluted earnings came in at RMB 26 (approximately $3.89) per share for the period, compared to the consensus estimate of RMB 13.55 ($2.04), according to Thomson Reuters.

“In the third quarter, we made good progress in our strategic pillars to strengthen our mobile foundation and lead in AI,” Baidu co-founder and CEO Robin Li said in a press release.

For its fourth quarter, Baidu predicts it will bring in 22.2 billion ($3.35 billion), which is well below the Thomson Reuters consensus estimate of RMB 24.8 billion ($3.73 billion).

BIDU stock fell 10.2% after the bell.

Gilead Sciences, Inc. (GILD)

Gilead Sciences had a rough quarter as well.

During the company’s third quarter, it posted adjusted earnings of $2.7 billion, amounting to roughly $2.06 per share, which was weaker than its year-ago earnings of $3.3 billion, or $2.49 per share.

Adjusted for one-time items, Gilead Sciences earned $3 billion, or $2.27 per share, which was below the year-ago figure of $3.7 billion, or $2.75 per share. Analysts were calling for adjusted earnings of $2.13 per share, according to FactSet.

Revenue was also dim, falling $1 billion year-over-year to $6.5 billion. The figure did beat the Wall Street consensus estimate of $6.4 billion in sales, according to FactSet.

For the year, Gilead Sciences posted an outlook of $24.5 billion to $25.5 billion in revenue, compared to its previous forecast of $24 billion to $25.5 billion.

GILD shares fell 4.1% after hours.

Mattel, Inc. (MAT)

Mattel earnings also missed the mark, sending the toy maker’s shares down.

Global sales fell 13% compared to last year during the company’s third quarter. Revenue disappointed at $1.56 billion, while analysts were calling for net sales of $1.81 billion.

Sales were below expectations in most toy brands and categories, including American Girl, which fell 30%. Monster High, DC Super Hero Girls, and Thomas & Friends also underwhelmed.

Mattel reported a loss of $603.3 million, or $1.75 per share during the period. A year ago, the toy maker unveiled earnings of $236.3 million, or 68 cents per share.

A non-cash charge related to a valuation allowance on U.S. deferred tax assets of $561.9 million hurt the company. On an adjusted basis, Mattel earned nine cents per share.

MAT stock was sinking 19% after the bell Thursday.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/10/stocks-to-watch-on-friday-baidu-inc-adr-bidu-gilead-sciences-inc-gild-and-mattel-inc-mat/.

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