3 Stocks to Watch on Thursday: Booking Holdings Inc (BKNG), Microsoft Corporation (MSFT) and Qualcomm, Inc. (QCOM)

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U.S. equities posted healthy gains Wednesday as financial, tech and energy stocks were on the rise. The S&P 500 Index gained nearly 1% yesterday, while the Dow Jones Industrial Average surged 0.8% and the Nasdaq Composite increased 1% by day’s end.

3 Stocks to Watch on Thursday: Booking Holdings Inc (BKNG), Microsoft Corporation (MSFT) and QUALCOMM, Inc. (QCOM)Several companies made headlines after the bell Wednesday, including Booking Holdings Inc (NASDAQ:BKNG), Microsoft Corporation (NASDAQ:MSFT) and Qualcomm, Inc. (NASDAQ:QCOM).

Here’s how they did ahead of Wednesday’s action:

Booking Holdings Inc (BKNG)

Booking Holdings had a strong quarter that helped lift its stock slightly, according to its late Wednesday report.

The company announced that for its first quarter, it brought in earnings of $607.2 million, or $12.34 per share, which was a considerable improvement from its year-ago earnings of $456 million, or $9.11 per share.

On an adjusted basis, Booking Holdings amassed earnings of $590 million, or $12 per share, ahead of its year-ago adjusted earnings of $494 million, or $9.88 per share. The Wall Street consensus estimate projected adjusted earnings of $10.70 per share, according to data compiled by FactSet.

The company also raked in revenue of $2.93 billion during its first quarter of fiscal 2018, improving upon the $2.34 billion it tallied up in the year-ago quarter. Analysts were calling for Booking Holdings to garner revenue of $2.87 billion in their outlook, per FactSet.

Net bookings were up to $25 billion, a 21% increase year-over-year and beating the Wall Street projection of $24.5 billion. For its second quarter, the company sees adjusted earnings as being in the range of $16.35 to $17 per share, while the FactSet guidance predicts second-quarter adjusted profit of $16.78 per share.

BKNG stock was up a fraction of a percentage after the bell yesterday.

Microsoft Corporation (MSFT)

Microsoft announced that its Windows 10 subscriptions have reached a milestone.

The tech giant said late Tuesday that it now has more than 200 million enterprise workers running Windows 10 as the company has been pushing companies to upgrade from Windows 7. Microsoft said that updates for the older operating system will no longer be supported in about 20 months.

Joe Belfiore, a company corporate vice president who’s at the helm of the Windows 10 team, made the announcement at Microsoft’s Build developers conference. “We’ve seen that [Windows 10] adoption rate increase now at 79% year-over-year growth.”

On Monday, the company added that roughly 700 million devices are now running Windows 10 across the world, with enterprises accounting for slightly less than 30% of all Windows 10 copies.

MSFT stock was also up a fraction of a percentage after Wednesday’s market close.

QUALCOMM, Inc. (QCOM)

Qualcomm recently announced a new stock repurchase plan.

The chipmaker said late on Wednesday that it is rolling out a $10 billion share-repurchase program, adding that the repurchase plan will have no expiration date. The move will replace a $15 billion repurchase authority that the company established in 2015 and has $1.2 billion remaining.

Qualcomm also recently said that it will be reducing its workforce in order to cut down costs.

QCOM shares surged 2% after hours yesterday.

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/2018/05/3-stocks-watch-thursday-booking-holdings-inc-bkng-microsoft-corporation-msft-qualcomm-inc-qcom/.

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