The Zacks Analyst Blog Highlights: Coca-Cola, Exxon Mobil, Microsoft, Visa and Boeing
CHICAGO, Feb. 24, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Coca-Cola Company (NYSE:KO-Free Report), Exxon Mobil Corp. (NYSE:XOM-Free Report), Microsoft Corp. (Nasdaq:MSFT-Free Report), Visa Inc. (NYSE:V-Free Report) and Boeing Co. (NYSE:BA-Free Report).
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Here are highlights from Friday's Analyst Blog:
Dow 30 Stock Roundup
The blue chip index slipped marginally on Tuesday, by 0.05% as benchmarks finished mixed. A pharma acquisition boosted investor confidence while dismal economic data was overlooked as an outcome of the bitter winter season.
The Dow frittered away the morning's gains to settle 0.6% lower on Wednesday. Investors were discouraged after the US Federal Reserve's latest policy meeting minutes showed that the tapering process would continue. They also revealed that the central bank was debating on when it should begin raising short term rates.
The Dow finally gained 0.6% on Thursday following a better-than-expected reading of Markit's preliminary US Manufacturing Purchasing Managers Index. Markets ignored dismal foreign data and a decline in the Philadelphia Fed's gauge of manufacturing activity
Components Which Moved the Index
The Coca-Cola Company (NYSE:KO-Free Report) reported adjusted earnings of 46 cents per share, in line with the Zacks Consensus Estimate. This was also 2% higher than the year-ago figure. However, revenues missed the Zacks Consensus Estimate and markets reacted negatively. Shares of Coca-Cola closed the day 3.8% lower and pulled down the Dow.
Currency hurt earnings growth by 5% as a strong dollar lowered the value of the company's ex-U.S. sales. Earnings grew 7% year over year on a constant currency basis as strong gross margins and lower taxes made up for soft revenues and margins.
Exxon Mobil Corp. (NYSE:XOM-Free Report) produced first gas from its Damar field, off the east coast of Peninsular Malaysia. With a forecasted peak capacity of 200 million cubic feet per day, the project is expected to help Malaysia meet its rising natural gas demand.
In particular, the startup of Damar – in which Exxon Mobil holds a 50% operated interest – is another important step towards the company's global production growth in the coming years.
Microsoft Corp. (Nasdaq:MSFT-Free Report) made its personal cloud storage service OneDrive globally available. Known earlier as SkyDrive, OneDrive provides users 7GB of free storage space. Users can also increase their storage space by 50 GB, 100 GB and 200 GB at a time. SkyDrive customers can use their existing credentials to access files on OneDrive.
Visa Inc. (NYSE:V-Free Report) said its clients will now be able to make secure mobile payments globally. This will be made possible by hosting payWave accounts in a virtual cloud, secure from infringement. It will also provide financial institutions wider choice in giving customers the freedom to make secure payments using their smartphones.
Boeing 787 Order Flow Continues
The Boeing Co. (NYSE:BA-Free Report) has won a sizable firm order form a joint venture between Lufthansa and Turkish Airlines – SunExpress – for a total of 40 Boeing jets, worth $3.8 billion at list prices.
The contract includes the delivery of 25 Next Generation 737-800 and 15 737 MAX 8 jets, with SunExpress having an option to buy additional 10 737 MAX 8 aircraft. The jets – slated for delivery between 2015 and 2021 – are essential to perk up route services from Germany to several destinations in Turkey.
SunExpress operates an all-Boeing fleet of over 60 Next-Generation 737-700s and 737-800s. It serves more than 90 destinations across Europe, the Middle East and North Africa.
The fourth generation of the 737 family – the 737 Max – is a premier aircraft from Boeing's stable and sees brisk demand in the single-aisle market for its fuel efficiency and low carbon dioxide emissions. Powered by the Commercial Fan Motor (CFM) International LEAP-1B engines, the Advanced Technology winglet of this airplane also enhances performance.
Additionally, the pivoting overhead stowage bins increase cabin space. The bins give passengers more room to keep a carry-on roll-aboard near their own seat besides providing extra leg space. This aircraft is 13% more fuel efficient than its closest peer in the single-aisle aircraft market.
Again, the Next Generation 737-800 version comes in with the new Boeing Sky Interior which is the latest in a series of enhancements for both airlines and passengers. This variant has been Boeing's bestseller in the single-aisle market. The single-aisle fleet's share in the global market is expected to increase from 14% to 20% by 2032. This will certainly keep Boeing's cash register ringing in the future.
Recently, Boeing received an order to supply 16 737 MAX airplanes to IcelandAir. The initial order for 12 aircraft received in Dec 2012 has been increased to 16. The agreement also includes purchase rights for eight more 737 MAXs. The total value of the 16 airplanes will be $1.6 billion at list prices.
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