3 Stocks to Watch on Friday: Canadian Pacific Railway Limited (USA) (CP), Mellanox Technologies, Ltd. (MLNX) and Atlassian Corporation PLC (TEAM)

CP beats earnings estimates, MLNX revenue tops expectations, TEAM adjusted EPS ahead of the mark

U.S. equities fell on Thursday as crude oil weakened, treasury bonds were mixed and the U.S. dollar was weak. The S&P 500 Index lost 0.2%, the Dow Jones Industrial Average fell 0.4% and the Nasdaq Composite lost a fraction.

3 Stocks to Watch on Friday: Canadian Pacific Railway Limited (USA) (CP), Mellanox Technologies, Ltd. (MLNX) and Atlassian Corporation PLC (TEAM)Several companies reported on their quarterly earnings results after hours, including Canadian Pacific Railway Limited (USA) (NYSE:CP), Mellanox Technologies, Ltd. (NASDAQ:MLNX) and Atlassian Corporation PLC (NASDAQ:TEAM).

Here’s how they did:

Canadian Pacific Railway Limited (USA) (CP)

Canadian Pacific Railway reported on its fourth quarter yesterday.

The company’s adjusted earnings came in at Canadian $3.22 per share for the period, ahead of the C$3.20 per share that analysts were calling for. Net income was $792 million, more than doubling the year-ago mark.

Revenue for Canadian Pacific Railway’s period was C$1.71 billion. The figure also rose 4% compared to the year-ago mark.

For the fiscal year 2018, the company sees its earnings as being around $11.39 per share, ahead of the consensus estimate of $10.53 per share.

“I have never been more excited about the potential for CP as we write the next chapter in our compelling story, one focused on sustainable, profitable growth,” said CEO Keith Creel.

CP stock gained a fraction of a percentage after hours Thursday.

Mellanox Technologies, Ltd (MLNX)

Mellanox Technologies had a strong quarter that sent shares soaring late in the day.

The company posted a fourth-quarter loss of $2.6 million, which was below the profit it posted in the year-ago period. Earnings came in at a loss of five cents per share, or at an adjusted profit of 82 cents per share.

Analysts polled by Zacks Investment Research were calling for earnings of 68 cents per share on an adjusted basis. Revenue came in at $237.6 million for the quarter, ahead of the $253.3 million that Zacks expected.

For the fiscal year 2017, Mellanox Technologies posted a loss of $19.4 million, or 39 cents per share, while revenue amounted to roughly $863.9 million.

For the current quarter, it projects revenue to be in the range of $222 million to $232 million, ahead of the Zacks estimate of $221.1 million. Revenue for the full year is slated to be between $970 million and $990 million.

MLNX stock surged 7.5% after the bell Thursday.

Atlassian Corporation PLC (TEAM)

Atlassian shares fell despite the company’s revenue beat.

For its second quarter of fiscal 2018, the IT and software holding company reported revenue of $212.6 million, which was better than the $204 million that Wall Street predicted, per FactSet.

Adjusted earnings were also ahead of the mark for Atlassian, coming in at 13 cents per share. Data compiled by FactSet had predicted adjusted earnings of 12 cents per share.

Revenue was 43% better than it was in the same quarter of last year. Atlassian’s operating loss widened to $15.3 million from $2.6 million due to a 50% jump in operating expenses.

The company also suffered a $65.2 million net loss due to a non-cash charge of $47.3 million caused by the U.S. tax reform.

TEAM stock slid 4.9% after the bell.

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/2018/01/3-stocks-watch-friday-canadian-pacific-railway-limited-usa-cp-mellanox-technologies-ltd-mlnx-atlassian-corporation-plc-team/.

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