Twitter, Cigna, Dunkin’ Brands, Tapestry & more

Markets are putting pressure on the Federal Reserve for at least one rate cut

Twitter (TWTR) – Twitter earned an adjusted 25 cents per share for the fourth quarter, 4 cents a share below estimates. Revenue came in above forecasts, however, and monetizable active daily users jumped 21% from a year ago to a record.

Cigna (CI) – The insurance company reported quarterly profit of $4.31 per share, 11 cents a share above estimates. Revenue also exceeded analysts’ projections, helped by growth in its pharmacy benefits unit as well as expense controls.

Dunkin’ Brands (DNKN) – The company’s fourth-quarter earnings came in at 73 cents per share, 3 cents a share above estimates. Revenue was below forecasts, however, as is its full-year adjusted earnings forecast of $3.16 to $3.21 per share. The restaurant operator also announced a 7% dividend increase to 40.25 cents per share.

Estee Lauder (EL) – The cosmetics company beat estimates by 21 cents a share, with quarterly earnings of 2.11 per share. Revenue also beat Wall Street forecasts. Estee Lauder said it will see a negative impact from the coronavirus, most especially in tourist destination markets and localities most impacted by the outbreak.

Bristol-Myers Squibb (BMY) – The drugmaker earned $1.22 per share for the fourth quarter. Revenue came in well above consensus, helped by the acquisition of Celgene. The deal closed in November.

Tapestry (TPR) – The fashion accessories company earned an adjusted $1.10 per share for its fiscal second quarter, 11 cents a share above estimates. Revenue also came in above forecasts. Tapestry warned of a potential sales and earnings impact from the coronavirus outbreak. Separately, Tapestry named new leaders for its Kate Spade and Stuart Weitzman brands.

Becton Dickinson (BDX) – The maker of medical products beat estimates on the top and bottom lines, but the stock is under pressure on lower-than-expected earnings guidance. The forecast reflects an anticipated loss of sales for its Alaris infusion system, which was the subject of a recall last July on concerns that the system might deliver medication faster than expected or unintentionally. Becton Dickinson is continuing to work with the Food and Drug Administration to address concerns and said it stands behind the safety of the system.

Cardinal Health (CAH) – The drug distributor beat consensus by 30 cents a share, with adjusted quarterly earnings of $1.52 per share. Revenue also came in above estimates and Cardinal Health raised its full-year earnings forecast amid strength across its pharmaceutical segment.

Yum Brands (YUM) – The parent of KFC, Taco Bell, and Pizza Hut missed estimates by 13 cents a share, with quarterly earnings of $1.00 per share. Revenue came in above forecasts. Same-store sales growth was slightly short of consensus, hurt by the performance of Pizza Hut.

Yum China (YUMC) – Yum China reported quarterly earnings of 25 cents per share, 6 cents a share above estimates. The restaurant operator’s revenue matched forecasts, however the company warned of a significant hit to sales due to the coronavirus outbreak.

GrubHub (GRUB) – GrubHub lost 5 cents per share for its latest quarter, a penny a share more than analysts had been expecting. The food delivery service’s revenue came in above estimates. GrubHub is spending more to recruit new customers, a strategy it said is paying off.

Peloton (PTON) – Peloton reported a quarterly loss of 20 cents per share, smaller than the consensus estimate of a 36 cents a share loss. The exercise bike maker’s revenue also beat forecasts, but the company gave a smaller-than-expected current-quarter sales outlook.

Qualcomm (QCOM) – Qualcomm beat estimates by 14 cents a share, with quarterly profit of 99 cents per share, with the chipmaker’s revenue also above analyst forecasts. Qualcomm did say that the coronavirus outbreak could impact manufacturing and sales for the entire mobile phone industry. Qualcomm is the world’s biggest supplier of chips that connect devices to wireless data networks.

Fox Corp. (FOXA) – Fox reported a quarterly profit of 10 cents per share, compared to a consensus estimate of a 2 cents per share loss. The media company’s revenue also came in above forecasts, thanks in large part to a surge in ad sales.

Toyota Motor (TM) – Toyota raised its annual profit forecast by 4.2%, helped by better-than-expected vehicle sales and favorable currency rates. The automaker warned, however, it had not yet factored in any potential impact from the coronavirus outbreak.

Casper Sleep (CSPR) – Casper priced its initial public offering at $12 per share, at the bottom end of the already-slashed range of $12 to $13 per share. The mattress retailer’s shares will begin trading today on the New York Stock Exchange.

PPD (PPD) – PPD priced its initial public offering at $27 per share, at the top of the expected range of $24-$27 per share. The drug research firm’s offering is the biggest of 2020 so far, and its shares will begin trading today on the Nasdaq.

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