Diamonds and Dogs
Boring is beautiful. Beauty and family care product maker, P&G is leading the Dow higher today, best day for the major averages this year (that's not saying much). Procter & Gamble (PG) is jumping 2.5% today following better than expected earnings of $1.04 easily beating estimates of 98 cents a share. Net sales declined by 9% due in part to International sales and the strong dollar. The company didn't raise guidance, but in this market as long as you don't lower guidance investors should be happy.
We can't personally travel to Mars yet, but with the help of today's dog we might be able to the moon again. Lockheed Martin (LMT) is one of the few stocks trading lower by midday following earnings. The actually fourth quarter earnings were better than expected coming in at $3.01 per share, up from earnings of $2.82 per share for the year-ago quarter. Revenue advanced as well to $12.92 billion from $12.53 billion year-over-year, but the 2016 guidance was below estimates. This may become a common theme this quarter and future quarters.