>>> Baxter beats by $0.05, reports revs in-line; guides Q1 EPS below consensus,

Baxter beats by $0.05, reports revs in-line; guides Q1 EPS below consensus, revs in-line; guides FY18 EPS above consensus, revs above consensus (72.03)

Reports Q4 (Dec) earnings of $0.64 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of $0.59; revenues rose 4.9% year/year to $2.77 bln vs the $2.77 bln Capital IQ Consensus.
Co issues guidance for Q1, sees EPS of $0.60-0.62, excluding non-recurring items, vs. $0.63 Capital IQ Consensus Estimate; sees Q1 revs of +5-6% (Approx $2.598-2.623 bln) vs. $2.61 bln Capital IQ Consensus Estimate.
Co issues upside guidance for FY18, sees EPS of $2.72-2.80, excluding non-recurring items, vs. $2.72 Capital IQ Consensus Estimate; sees FY18 revs of +6-7% (Approx $11.2-11.3 bln) vs. $11.1 bln Capital IQ Consensus Estimate.

>>> US Early premarket gappers

Early premarket gappers
Gapping up: ZN +23.2%, QNST +15.2%, QRVO +12.2%, EBAY +12.1%, OTEX +11.5%, NOK +9.4%, ST +6.7%, VRTX +6.4%, VRTX +6.4%, QGEN +5.2%, GEO +4.2%, T +3.6%, CDNS +3.4%, MKSI +3.4%, P +3.1%, ESIO +2.5%, MPC +2.4%, ALGT +2%, MDLZ +2%, GPRO +1.6%, X +1.6%, DGX +1.6%, VLO +1.6%, FB +1.3%, BLCM +1.2%, MCK +0.7%, UN +0.6%, BBVA +0.6%

Gapping down: EGOV -18.7%, ONCS -14.4%, ASX -14.4%, OMI -10.7%, RIOT -8.3%, PYPL -8.3%, NVO -5%, MUR -4.7%, NVTR -4.6%, BABA -3.9%, DPW -3.5%, VOD -3.5%, HSY -3%, GNBC -2.7%, SYMC -2.3%, APTV -2.2%, UPS -2.2%, NOW -1.9%, TSCO -1.8%, NVDA -1.7%, BOOT -1.5%, RDS.A -1.3%, QCOM -1.1%, BSX -0.9%, COP -0.9%, MSFT -0.8%, CTXS -0.8%, DWDP -0.8%

>>> Parker-Hannifin beats by $0.08, beats on revs; raises FY18 EPS guidance

Parker-Hannifin beats by $0.08, beats on revs; raises FY18 EPS guidance
  • Reports Q2 (Dec) earnings of $2.15 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $2.07; revenues rose 26.2% year/year to $3.37 bln vs the $3.33 bln Capital IQ Consensus.
  • Co increases FY18 non-GAAP EPS guidance to $9.65-10.05 from $9.10-9.70; this compares to $9.79 Capital IQ Consensus Estimate.
  • "Improved market conditions together with the ongoing benefits of implementing the new Win Strategy continue to deliver widespread improvements across our company...Sales were a second quarter record and increased 10% organically, while order rates increased 13% year-over-year. Solid margin performance continued."
  • Outlook: "We see strong market conditions continuing into the second half of our fiscal year. We remain committed to driving operational improvements through our execution of the Win Strategy, progressing toward our stated long-term financial goals and delivering a record year."

>>> Alibaba misses by $0.03, beats on revs; Takes a stake in Ant Financial; Rais

Alibaba misses by $0.03, beats on revs; Takes a stake in Ant Financial; Raises FY18 revenue guidance (204.29)
  • Reports Q3 (Dec) earnings of $1.63 per share, $0.03 worse than the Capital IQ Consensus of $1.66; revs +56% y/y to $12.76 bln compared to $12.36 bln Capital IQ consensus; revs +56% y/y to $12.76 bln compared to $12.36 bln Capital IQ consensus.
  • Given clear visibility on the full year results for fiscal year 2018, BABA is adjusting revenue guidance to 55% to 56% (previously 49% to 53%).
  • Revs by Segment
    • Revenue from core commerce increased 57% y/y to $11,257 million.
    • Revenue from cloud computing increased 104% y/y to $553 million.
    • Revenue from digital media and entertainment increased 33% y/y to $832 million.
    • Revenue from innovation initiatives and others decreased 9% y/y to $119 million.
  • Key Metrics
    • Annual active consumers on China retail marketplaces reached 515 million (+16% y/y, +6% q/q)
    • Mobile MAUs on our China retail marketplaces reached 580 million (+18% y/y, +6% q/q)
    • Net income was $3,586 million), income from operations was $3,996 million and adjusted EBITDA was US$5,561 million. Operating margin was 31%, adjusted EBITDA margin was 44% and adjusted EBITA margin for core commerce was 53%.
  • Ant Financial Stake
    • BABA has agreed to a 33% equity stake in Ant Financial that will strengthen it's strategic relationship pursuant to the series of agreements reached with Ant Financial in 2014. BABA believes deepening relationship through an equity stake in Ant Financial would bring key strategic benefits, including advancing New Retail strategy with mobile payments, increasing user acquisition and retention through collaboration with the Alipay digital wallet, and enhancing the execution of international expansion. In addition, the equity stake in Ant Financial enables Alibaba and shareholders to participate in the future growth of the financial technology sector.
    • During Q4, Ant Financial successfully executed an aggressive user growth plan that resulted in substantial new user additions and increased user engagement. As a result of the user growth initiatives, in December 2017, Alipay Wallet's daily active users more than doubled on a year-over-year basis.
    • Under the terms of the amended agreements, Alibaba will acquire newly-issued equity from Ant Financial in exchange for certain intellectual property rights owned by Alibaba exclusively related to Ant Financial. There will be no cash impact to Alibaba following completion of the transaction. Upon closing, the companies will terminate the current profit-sharing arrangement under which Ant Financial pays royalty and technology service fees in an amount equal to 37.5% of its pre-tax profits to Alibaba.

>>> ConocoPhillips beats by $0.01; provides FY18 production guidance (58.81)

ConocoPhillips beats by $0.01; provides FY18 production guidance (58.81)
  • Reports Q4 (Dec) earnings of $0.45 per share, $0.01 better than the Capital IQ Consensus of $0.44.
  • Preliminary 2017 year-end proved reserves are 5.0 billion barrels of oil equivalent. The total reserve replacement ratio, including a reduction of 1.9 billion BOE from dispositions, is expected to be a negative 168 percent. Excluding disposition impacts, the organic reserve replacement ratio is expected to be a positive 200 percent. Excluding disposition impacts and market factors, replacement from net additions is expected to be a positive 117 percent.
  • Full-year 2018 production is expected to be 1,195 to 1,235 MBOED. This results in approximately 5 percent growth compared with full-year 2017 underlying production, which excludes disposition impacts of 191 MBOED. First-quarter 2018 production is expected to be 1,180 to 1,220 MBOED. Production guidance for 2018 excludes Libya

>>> Altria beats by $0.11, misses on revs; guides FY18 EPS above consensus; CEO

Altria beats by $0.11, misses on revs; guides FY18 EPS above consensus; CEO Marty Barrington to retire in May, promotes current COO Howard Willard to CEO and Chairman (70.34)
  • Reports Q4 (Dec) earnings of $0.91 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus of $0.80; revenues fell 0.4% year/year to $4.71 bln vs the $4.8 bln Capital IQ Consensus.
  • Co issues upside guidance for FY18, sees EPS of $3.90-4.03, excluding non-recurring items, vs. $3.79 Capital IQ Consensus Estimate. Altria's 2018 guidance reflects investments in focus areas for long-term growth, including innovative product development and launches, regulatory science, brand equity, retail fixtures and future retail concepts. Altria expects its 2018 full-year adjusted effective tax rate will be in a range of ~23% to 24%.
  • Altria's Chairman and Chief Executive Officer Marty Barrington announces his decision to retire at the conclusion of the May 17, 2018 Annual Shareholder Meeting; Altria's Board of Directors (Board) has elected Howard Willard, 54, to serve as Chairman and Chief Executive Officer and Billy Gifford, 47, to serve as Vice Chairman and Chief Financial Officer.

>>> Blackstone beats by $0.04, beats on revs

Blackstone beats by $0.04, beats on revs (36.55)
  • Reports Q4 (Dec) earnings of $0.71 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.67; revenues rose 19.9% year/year to $1.88 bln vs the $1.73 bln Capital IQ Consensus.
  • Economic Net Income was $850 million ($0.71/unit) in the quarter, up 5% year-over-year, on $1.8 billion of Total Segment Revenues. Total Assets Under Management grew to a record $434.1 billion through a combination of continued fundraising, fund appreciation, and strategic platform expansion.
  • Inflows were $62.2 billion in the quarter, including $22 billion from Fidelity & Guaranty Life and $11 billion from the acquisition of Harvest, bringing full year inflows to a record $108.0 billion.
  • Total AUM increased 18% year-over-year and Fee-Earning AUM was up 21% to $335.3 billion.
  • Blackstone declared a fourth quarter distribution of $0.85 per common unit payable on February 20, 2018.

>>> UPS beats by $0.01, beats on revs; guides FY18 EPS in-line

UPS beats by $0.01, beats on revs; guides FY18 EPS in-line (127.32)

Reports Q4 (Dec) earnings of $1.67 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $1.66; revenues rose 11.2% year/year to $18.83 bln vs the $18.2 bln Capital IQ Consensus.
Demand for UPS Ground rose in the fourth quarter with volume growth of 5.7% and revenue of 9.3%.
Co issues in-line guidance for FY18, sees EPS of $7.03-7.37, excluding non-recurring items, vs. $7.16 Capital IQ Consensus Estimate. Guidance includes about $200 million of additional pre-tax pension expense due to lower discount rates.
"Our guidance includes TCJA benefits that will increase net income and cash flow. Capital expenditures planned between $6.5 billion to $7.0 billion, mostly dedicated to investments in new technology, aircraft and automated capacity."

>>> MSCI beats by $0.15, reports revs in-line; provides adj. EBITDA guidance

MSCI beats by $0.15, reports revs in-line; provides adj. EBITDA guidance (139.23)

Reports Q4 (Dec) earnings of $1.15 per share, excluding non-recurring items, $0.15 better than the Capital IQ Consensus of $1.00; revenues rose 14.3% year/year to $334.8 mln vs the $333.68 mln Capital IQ Consensus.
14.3% increase in operating revenues to $334.8 million for fourth quarter 2017.
FY18 Guidance:
Adjusted EBITDA expenses are expected to be in the range of $645 million to $665 million
Net cash provided by operating activities and free cash flow is expected to be in the range of $490 million to $540 million and $440 million to $500 million, respectively.
The effective tax rate is expected to be in the range of 21% to 24%.

>>> Hershey Foods misses by $0.04, reports revs in-line; guides FY18 EPS above c

Hershey Foods misses by $0.04, reports revs in-line; guides FY18 EPS above consensus (110.33)
  • Reports Q4 (Dec) earnings of $1.03 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus of $1.07; revenues fell 1.5% year/year to $1.94 bln vs the $1.96 bln Capital IQ Consensus.
  • Co issues upside guidance for FY18, sees EPS of $5.33-5.43, excluding non-recurring items, vs. $5.27 Capital IQ Consensus Estimate.
  • Reported gross margin of 43.0% represented an increase of 530 basis points versus the fourth quarter of 2016, while reported operating profit of $328.3 million in the fourth quarter of 2017 resulted in operating margin of 16.9%.
  • Hershey's North America net sales were $1,674.6 million in the fourth quarter of 2017, a decline of 0.9% versus the same period last year, including a 0.4 point benefit from foreign currency translation.
  • Co states, "In 2018, the company estimates net sales to increase 5% to 7%. Organic net sales are expected to increase in the range of slightly up to around 2% versus last year. This is lower than our long-term target primarily due to a shorter Easter season versus 2017 and the previously mentioned SKU optimization initiative. Additionally, the acquisition of Amplify will be about a 5 point benefit and foreign currency exchange is expected to be negligible.
    In 2018, we estimate adjusted gross margin will be about the same as last year... The anticipated impacts of the lower tax rate and brand building reinvestment are included in the 2018 outlook. As a result, the company estimates the 2018 full year increase in adjusted earnings per share-diluted to be in the $5.33 to $5.43 range, or an increase of 12% to 14%."