U.S. equities posted slight losses on an uneventful Columbus Day that saw energy stocks surging 0.3% and healthcare stocks fall 0.7%. The S&P 500 Index lost 0.2%, the Dow Jones Industrial Average fell 0.1% and the Nasdaq Composite declined 0.2%.
LVMH Moet Hennessy Louis Vuitton SE(ADR) (OTCMKTS:LVMUY), PS Business Parks Inc (NYSE:PSB) and Summit Hotel Properties Inc (NYSE:INN) all either posted earnings recently or are expected to report soon.
Here’s what you should know:
LVMH Moet Hennessy Louis Vuitton SE(ADR) (LVMUY)
LVMH posted its earnings results yesterday.
The company unveiled revenue of €10.4 billion ($12.21 billion), topping analysts’ expectations of €10.2 billion ($11.98 billion). The figure rose 4% year-over-year despite being held back by supply constraints.
Fashion and leather goods made up a large portion of the company’s business at €3.9 billion, ($4.58 billion) which marked a 13% surge compared to the year-ago revenue figures.
Earnings were 12 cents higher per share than they were a year ago, while sales in perfumes and cosmetics surged 17 cents.
For the first nine months of the year, revenue has been €30.1 billion ($35.34 billion).
LVMUY stock traded flat after hours.
PS Business Parks Inc (PSB)
PS Business Parks is slated to report earnings at the end of the month.
The company is expected to unveil profit of $1.53 per share, according to analysts covering the stock as listed at Earnings Whisper. The figure would mark a 7% improvement compared to the year-ago figure of $1.43 per share.
The report will come on Oct. 24. The previous quarter saw PS Business Parks post earnings of about $1.55 per share.
The stock has outperformed the S&P 500 Index by 9%
PSB shares were trading flat after hours.
Summit Hotel Properties Inc (INN)
Summit Hotel Properties will also report at the end of the month.
The earnings call will be on Oct. 31. Analysts predict that the company will post earnings of 33 cents per share on the quarter on a consensus basis.
The previous estimate saw analysts giving the company earnings of 36 cents per share, which declined by 8.3% with the new outlook.
INN stock was flat after hours.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
