>>> General Electric beats by $0.05, reports revs in-line; reaffirms FY19 guidan

General Electric beats by $0.05, reports revs in-line; reaffirms FY19 guidance (9.73)
  • Reports Q1 (Mar) earnings of $0.14 per share, excluding non-recurring items, $0.05 better than the S&P Capital IQ Consensus of $0.09; revenues fell 1.8% year/year to $27.29 bln vs the $27.31 bln S&P Capital IQ Consensus. Orders +1 (+9% organic); GE Industrial rev -2%, +5% organic, Industrial profit -12% organic to $2.2 bln; GE Capital rev +2%
  • Adjusted Industrial free cash flows (FCF) better than planned, largely due to timing, but also included some improved execution in our Industrial businesses
  • Co reaffirms guidance for FY19, sees EPS of $0.50-0.60, excluding non-recurring items, vs. $0.58 S&P Capital IQ Consensus. LSD-MSD Industrial segment organic revenue growth; adjusted Industrial FCF ($2)-0 bln; Adjusted GE Industrial margin ~flat to up ~100bps. Managing uncertainty in several areas... Renewables execution, Power variability... Boeing 737 MAX a new risk.
  • Expect Adjusted Industrial FCF to return to positive territory in 2020 & accelerate thereafter in 2021
  • "We delivered strong industrial orders in the quarter, up 9 percent organically, with backlog closing at $374 billion, up 6 percent year over year. Our quarterly results were better than our expectations, largely driven by timing of certain items, which should balance out over the course of the year. Therefore, we expect our performance for the year to be in line with our previous commentary.

>>> Eaton beats by $0.01, misses on revs; guides Q2 EPS in-line; slightly raises

Eaton beats by $0.01, misses on revs; guides Q2 EPS in-line; slightly raises FY19 EPS guidance (still in-line) to reflect accretion from Ulusoy acquisition (83.99)
  • Reports Q1 (Mar) earnings of $1.26 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $1.25; revenues rose 1.0% year/year to $5.3 bln vs the $5.38 bln S&P Capital IQ Consensus. Orders in the first quarter were up 4 percent over the first quarter of 2018, driven by continued growth in both industrial and residential markets in the Americas.
  • Co sees Q2 EPS of $1.45-1.55, excluding non-recurring items, vs. $1.50 S&P Capital IQ Consensus.
  • Co now sees FY19 EPS of $5.72-6.02, prior $5.00-6.00, excluding non-recurring items, vs. $5.86 S&P Capital IQ Consensus

>>> Nielsen beats by $0.03, reports revs in-line; reaffirms FY19 guidance; say

Nielsen beats by $0.03, reports revs in-line; reaffirms FY19 guidance; says focused on completing strategic review in a timely manner
  • Reports Q1 (Mar) earnings of $0.35 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.32; revenues fell 2.9% year/year to $1.56 bln vs the $1.57 bln S&P Capital IQ Consensus.
  • Co reaffirms guidance for FY19, sees EPS of $1.63-1.77, excluding non-recurring items, vs. $1.69 S&P Capital IQ Consensus; continues to see revenue growth on a constant currency basis of flat to +1.5%
  • "The strategic review is ongoing and the Board is focused on completing the process in as timely a manner as possible. We remain focused on executing on our growth strategy, and we're taking the right steps to position the company for both near and long-term success in order to maximize value for all of our shareholders.

>>> Intelsat misses by $0.24, reports revs in-line; lowers FY19 revs below conse

Intelsat misses by $0.24, reports revs in-line; lowers FY19 revs below consensus (20.39)
  • Reports Q1 (Mar) loss of $0.87 per share, $0.24 worse than the S&P Capital IQ Consensus of ($0.63); revenues fell 2.8% year/year to $528.4 mln vs the $523.74 mln S&P Capital IQ Consensus.
  • Co issues downside guidance for FY19, sees FY19 revs of $2.00-2.06 bln vs. $2.09 bln S&P Capital IQ Consensus, down from prior guidance of $2.06-2.12 bln
  • Adjusted EBITDA Guidance: Intelsat forecasts Adjusted EBITDA performance for the full-year 2019 to be in a range of $1.430 billion to $1.480 billion.

>>> US Early premarket gappers


Early premarket gappers

Gapping up:

  • WAGE +24.8%, PI +22.6%, GTHX +21.6%, SANM +10.4%, CURO +10.3%, GDI +7.5%, WWD +7.4%, YUMC +6.9%, MEDP +6.4%, NPTN +5.4%, AMRC +5%, BRX +4.8%, NXPI +4.2%, THC +3.4%, AKS +3.3%, CLR +3.1%, MOH +2.7%, SBAC +2.3%, MUSA +2.2%, TNET +2%, LDOS +1.7%, ARNC +1.4%, PNNT +1.3%, APTS +1.3%, BP +1.3%, ARCC +1.2%, AUDC +1%

Gapping down:

  • CGNX -13.7%, MBIO -11.4%, IIN -10.9%, HLIT -10.5%, TREX -9%, PRGO -8.8%, TXRH -7.8%, GHL -7.5%, GOOG -7.5%, MGTA -7.1%, CHE -4.7%, WDC -4.3%, CHGG -4.3%, HQY -4%, LOGI -3.9%, SXI -3.4%, MGM -3%, ORAN -2.8%, RGEN -2.7%, PCH -2.7%, NBIX -2.3%, ETH -2.3%, LEG -1.7%, ADC -1.4%, THO -1.4%, CRSP -1.4%, HSII -1.1%, ELVT -0.9%, VRNS -0.9%

>>> Medidata Solutions beats by $0.10, reports revs in-line (90.99) Reports Q1

Medidata Solutions beats by $0.10, reports revs in-line
  • Reports Q1 (Mar) earnings of $0.45 per share, $0.10 better than the S&P Capital IQ Consensus of $0.35; revenues rose 16.3% year/year to $173.5 mln vs the $172.12 mln S&P Capital IQ Consensus.
  • Subscription revenue was $146.9 million, an increase of 16% compared with the first quarter of 2018. Professional services revenue was $26.6 million, an increase of 19% compared with the first quarter of 2018

>>> Eli Lilly reports EPS in-line, revs in-line; updates FY19 guidance to reflec

Eli Lilly reports EPS in-line, revs in-line; updates FY19 guidance to reflect disposition of Elanco Animal (ELAN)
  • Reports Q1 (Mar) earnings of $1.33 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $1.33; revenues rose 2.6% year/year to $5.09 bln vs the $5.12 bln S&P Capital IQ Consensus.
    • The increase in revenue was driven by a 7 percent increase due to volume, partially offset by a 3 percent decrease due to lower realized prices, and a 2 percent decrease due to the unfavorable impact of foreign exchange rates.
    • Revenue in the U.S. increased 3 percent, to $2.891 billion, driven by increased volume of 6 percent, partially offset by lower realized prices. U.S. volume growth was driven by key growth products, primarily Trulicity®, Taltz, Verzenio®, and Basaglar®, partially offset by significant volume declines for products that have lost exclusivity, including Cialis® and Strattera®.
  • Co issues in-line guidance for FY19, sees EPS of $5.60-5.70, excluding non-recurring items, vs. $5.61 S&P Capital IQ Consensus; sees FY19 revs of $22-22.5 bln, excluding non-recurring items, vs. $22.22 bln S&P Capital IQ Consensus.
    • Revenue growth is expected to be driven by volume from key growth products including Trulicity, Taltz, Basaglar, Jardiance, Verzenio, Cyramza and Olumiant. Revenue growth is also expected to benefit from the recent launch of Emgality and could benefit from the potential approval and launch of other medicines in 2019. Revenue growth is expected to be partially offset by lower revenue for Cialis and other products that have lost patent exclusivity. Revenue growth is also expected to be partially offset by the negative impact of foreign exchange rates, continued low- to mid-single digit price declines in the U.S. driven primarily by patient affordability programs, rebates and legislated increases to Medicare Part D cost sharing, price declines in some international markets and the impact of the planned Lartruvo withdrawal