S&P 500 Posts Largest Loss in a Month -- Netflix and United Parcel Service Fall Due to Weak Outlook
Five Star Equities Provides Stock Research on Netflix and United Parcel Service
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 07/26/12 -- After posting two weeks of consecutive gains the S&P 500 saw its biggest loss in about a month as concerns regarding Europe's debt crisis continue to mount. On Tuesday Moody's Investor Services citing "rising uncertainty" slashed the credit ratings of Germany, the Netherlands and Luxembourg to "negative" from "stable." Five Star Equities examines the outlook for companies in the S&P 500 and provides equity research on Netflix, Inc. (NASDAQ: NFLX) and United Parcel Service, Inc. (NYSE: UPS).
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"It's far from over," said Paul Zemsky, head of asset allocation for ING Investment Management which oversees $160 billion. "There's renewed euro crisis concern. As for earnings, it's not much what the numbers are printing. There's fear of what to expect going forward."
Data collected by Bloomberg showed sales increased at an average of 2.9 percent from the 147 companies of the S&P 500 companies that have reported earnings so far. Approximately 40 percent of companies have beat analysts' sales estimates, and 73 percent of companies have topped profit estimates.
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For the second quarter of 2012 Netflix reported earnings of 11 cents per share on revenue of $889.2 million. The results came in ahead of analysts' estimates of 5 cents a share and revenues of $888.9 million. The company issued a weak third quarter outlook as it projected results to range between a loss of 10 cents a share to a profit of 14 cents a share.
UPS on Tuesday reduced their full-year profit outlook to $4.50 to $4.70 a share from $4.75 to $5 after the company's second quarter results fell short of analysts' estimates. "Increasing uncertainty in the United States, continuing weakness in Asia exports and the debt crisis in Europe are impacting projections of economic expansion," said Scott Davis, UPS chairman and CEO.
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Datum: 26.07.2012 - 06:20 Uhr
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