Market 2018-04-24 (GOOG, LMT, CAT, and more)

Another scary selloff today following some big earnings: Google, CAT, LMT, MMM... all posted big loss today despite ER beats. Beaten down Finance and Semiconductor Sectors are relatively better today, XLF -0.7%, SOXX -0.8%.

Treasury: 30-year -0.31%. 10-yr -0.03%. 5-yr +0.02%. TLT -0.45%. 10-year Treasury reaches 3% ... so what now?

Crude -1.24% to $67.79. Gold +0.73% to $1,333.70. UUP -0.12%.

Winners

FITB +4.1%. So far, almost all the banks have ER beats. However, the big banks are traded down and small banks are treated more fairly.

WHR +3.8% reaffirms profit guidance, despite ER misses.

VZ +2.4% as unlimited plans hold customers in Q1 beat.

PHM +2.9% after ER beats.

HOG +2.4% after positive international sales growth (ER beats although rev only grows 2.3% Y/Y).

BIIB +1.1%, jumped from a big loss to gain. Q1 +11%; non-GAAP EPS +16%.

LLY -0.1%, quiet after ER beats. Q1 revenues +9%; non-GAAP EPS +37%; raises 2018 guidance.

BIIB and LLY set the tone for biotech companies, more promising earnings to come.

Losers

FCX -14.5% after ER misses, and warning of more problems in Indonesia.

MMM -6.8% after reporting mixed ER and lowering 2018 EPS to be in the range of $10.20-$10.55 per share (vs. $10.20-$10.70).

CAT -6.2% despite ER beats and guidance boost. Q1 EPS of $2.82 beats by $0.75. Revenue of $12.9B (+31.4% Y/Y) beats by $970M. Raised adjusted 2018 EPS by $2 to a range of $10.25 ~ 11.25. During ER call, the company says Q1 would be the company's "high water mark for the year." DE -5.4%.

LMT -6.2% despite ER beats and bumping up guidance.

KO -2.1% despite ER beats.

GOOG -4.4% despite ER beats. Pivotal Research lowers PT from $1040 to $970; Moffett Nathanson lowers PT from $1275 to $1225 citing a strong but “sloppy” quarter.  FB -3.7% (ER tomorrow AH).

SQ -8.6% on no news.

Earnings in AH

Texas Instruments (TXN +0.3%): Q1 EPS of $1.21 beats by $0.10. Revenue of $3.79B (+11.5% Y/Y) beats by $140M. Shares +4% in AH.

iRobot (IRBT -1.5%): Q1 EPS of $0.71 beats by $0.19. Revenue of $217.1M (+28.9% Y/Y) beats by $4.3M. Shares +0.9%.

Chubb (CB -1.6%): Q1 EPS of $2.34 in-line. Revenue of $6.55B (+5.8% Y/Y) beats by $120M.

Capital One Financial (COF -0.1%): Q1 EPS of $2.65 beats by $0.32. Revenue of $6.91B (+5.7% Y/Y) misses by $30M. Shares +0.6%.

Amgen (AMGN -1.6%): Q1 EPS of $3.47 beats by $0.22. Revenue of $5.6B (+2.6% Y/Y) beats by $160M. Shares +1.4% in AH.

Illumina (ILMN -3%): EPS of $1.45 beats by $0.44. Revenue of $782M (+30.8% Y/Y) beats by $38.65M. Shares +2% in AH.

Edwards Lifesciences (EW -1.8%): Q1 EPS of $1.22 beats by $0.10. Revenue of $937.5M (+9.3% Y/Y) beats by $5.35M. Shares -8% in AH.

Wynn Resorts (WYNN -1.7%): Q1 EPS of $2.30 beats by $0.37. Revenue of $1.72B (+21.1% Y/Y) misses by $20M. Shares -0.9% in AH.

My Trades Today

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