Honeywell International (HON) shares had a buzz Friday morning following the release of the tech and manufacturing company's latest quarterly earnings results. The Morris Plains, NJ-based company reported bottom-line results of $1.67 per share, topping analyst estimates of $1.60 per share. Revenue for the period rose 2% to $9.8 billion, matching the company's own projected revenue. For the year, the company projected earnings between $6.60 and $6.40 per share on revenue between $39.4 billion and $39.6 billion.
Microsoft (MSFT) shares continued to rise premarket Friday after the release of the tech company's latest quarterly report. Shares were up almost 6% before the opening bell after the company reported better-than-expected first quarter top- and bottom-line results thanks mostly to the company's burgeoning cloud services business. Sales from its cloud product doubled during the quarter, leading the stock to jump as much as 6% in after-hours trading Thursday and hit an all-time high before settling back down.
Shares of shoe brand Skechers (SKX) were tripped up out of the gate Friday, falling nearly 16% premarket following the release of its third quarter earnings results after the closing bell Thursday. Friday's dip follows a 14% decline after-hours yesterday. The company reported earnings of $0.42 per share, missing analysts' expectations of $0.48 per share. Even though revenue for the period rose 10% year over year to $942 million, those results also fell short of Wall Street's $954 million expectations. Skechers also provided fourth quarter top-line guidance between $710 million and $735 million vs FactSet's $800 million estimate.
Action Alerts PLUS holding General Electric (GE) shares were down slightly premarket Friday despite the company topping analysts third quarter earnings estimates as revenue missed expectations. GE reported a 10% increase in profits to $0.32 per share, ahead of the Street's consensus of $0.30 per share. Total revenue of $29.27 billion was a 4.4% increase over the previous year, just missing analysts' consensus $29.6 billion estimates. General Electric is in the midst of a shift in business strategy as the company looks to get back to its industrial roots and exit financial services. GE has returned $25 billion to shareholders through dividend payouts and an $18.1 billion stock buyback.
