With the
earnings season now in full force, valuable data to gauge the
broader economy will be rolling in.
Below, I will
share three stocks that posted earnings beats this morning, and that
I think may be appealing additions to many investors’ portfolios.
General Electric – Rebounding with Impressive Gains
In 2023,
General Electric
GE stock recorded one of its best performances in modern history
gaining 60% in the year. General Electric also enjoys a
Zacks Rank #2 (Buy) rating reflecting upward trending earnings revisions. Following the
high marks and impressive stock performance GE posted a strong
quarter and full year of earnings.
General Electric reported Q4 earnings that exceeded expectations,
with a 9% decrease in EPS to $1.13, surpassing the anticipated 28%
drop. Revenue climbed 15% to $19.4 billion, beating expectations of a
drop to $17.18 billion. Despite the positive results, GE stock opened
lower after reaching a six-year high the previous day. However, by
mid-day the stock rallied to unchanged, indicating strong buying
pressure.
Johnson & Johnson – Resilient Performance
Johnson and Johnson
JNJ currently has a Zacks Rank #3 (Hold) rating, but was able to beat earnings estimates, nonetheless.
Johnson & Johnson reported Q4 earnings and revenue that slightly
exceeded expectations. The pharmaceutical and medical devices
businesses experienced a surge in sales, contributing to a total of
$21.40 billion in sales for the quarter, marking a 7.3% increase from
the same period in 2022.
Verizon Communications – Aiming High Despite Challenges
Verizon Communications
VZ too has a Zacks Rank #3 (Hold) rating but is surging higher following earnings. VZ stock is up
nearly 6% following the meeting.
Verizon Communications reported Q4 earnings that met Wall Street
estimates, with earnings per share of $1.08 on an adjusted basis, a 9%
decrease from the previous year, and revenue of $35.1 billion, dipping
0.3%. Despite this, VZ stock rose to an 11-month high.
