Pedestrians pass in front of the GAP store in New York.
Scott Mill CNBC
Check out the leading companies in Friday’s lunch business.
American Express – Shares of the payment company fell 1.1%, although American Express exceeded expectations for earnings for the first quarter. American Express reported earnings of $ 2.73 per share, compared to Refinitiv’s consensus estimate of $ 2.44 per share. Profits have increased from the costs of millennials and Gen-X users, the company said.
Verizon Communications – Shares of Verizon fell 6.1% after the company reported a loss of 36,000 monthly phone subscribers in the first quarter, compared to FactSet’s estimate of 49,300 losses. Verizon also posted quarterly earnings and earnings in line with Wall Street forecasts.
HCA Healthcare, Universal Healthcare, Intuitive Surgical – The healthcare sector was under pressure on Friday, with HCA Healthcare lagging the most after reporting disappointing year-over-year earnings and revenue guidelines. HCA fell 19 percent, Universal Health Services fell 13 percent, and Intuitive Surgical fell about 13 percent.
SVB Financial Group – Shares of the regional bank jumped more than 11% after the company reported strong profits. SVB Financial Group earned an adjusted $ 6.22 per share, compared to the consensus estimate of $ 5.60 from FactSet. The company’s net interest income also exceeded expectations.
Kimberly-Clark Corporation – Shares of the consumer goods company jumped nearly 9% after Kimberly-Clark exceeded earnings expectations. The company earned $ 1.35 per share in its last quarter, compared to consensus estimates of $ 1.23 per share by Refinitiv. Kimberly-Clark also raised its full-year organic sales forecast.
Schlumberger – Shares jumped more than 3% after the oil producer exceeded earnings expectations. Schlumberger won 34 cents a share, compared to analysts’ expectations of 33 cents a share. Schlumberger also increased his dividend by 40%.
Gap – The retailer’s shares fell about 20% after Gap announced that the chief executive of its Old Navy business, Nancy Green, was leaving the company this week. Gap also reduced its outlook for net sales growth this fiscal year.
– CNBC’s Tanya Machel contributed to the report.
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