Existing home sales in the U.S. increased by more than anticipated in the month of September, according to a report released by the National Association of Realtors on Tuesday, with sales bouncing back to their highest level in a year.
Canada's second-largest railroad operator Canadian Pacific Railway Ltd. on Tuesday reported a 23 percent increase in profit for the third quarter from last year, reflecting growth in freight revenue on higher grain and crude oil shipments. However, revenue for the quarter missed analysts' expectations.
Stocks have moved mostly higher in early trading on Tuesday, extending the upward trend seen over the past few sessions. The major averages have all climbed firmly into positive territory, bouncing further off last week's lows.
Telecom giant Verizon Communications Inc. Tuesday reported a rise in the third-quarter profit, as revenues grew more than 4 percent, with strong customer additions. Earnings per share missed analysts' estimates, while revenues came slightly above view.
Fast food giant McDonald's Corp. on Tuesday reported a 30 percent decline in profit for the third quarter from last year, reflecting lower revenues amid negative guest traffic in all major segments and the impact of a supplier issue in China. Both revenue and earnings per share for the quarter missed analysts' estimates.
Beverages giant Coca-Cola Co. reported Tuesday a profit for the third quarter that decreased 14 percent from last year, despite higher worldwide volumes, reflecting a revenue drop. Adjusted earnings per share matched analysts' expectations, even as quarterly revenues missed their estimates. Following the announcement, the company's shares are trading more than five percent lower in early deals.
Healthcare products maker Kimberly-Clark Corp. (KMB) Tuesday reported third-quarter results that topped estimates. Further, the company reduced its earnings outlook for the year, assuming the spin-off of its health care business occurs at the end of October.
After ending the previous session notably higher, stocks are likely to see some further upside in early trading on Tuesday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 60 points.
Defense contractor Lockheed Martin Corp. on Tuesday reported a 2 percent increase in profit for the third quarter from last year, reflecting lower pension costs and improved operating margins that helped offset a decline in sales. Earnings per share beat analysts' expectations, while revenues missed their estimates.
Tobacco company Reynolds American, which agreed to acquire smaller rival Lorillard, reported Tuesday a profit for the third quarter that increased two percent from last year, despite lower cigarette volumes, reflecting higher cigarette and moist-snuff pricing, and improved operating margins. The company reported earnings and margin growth across its reportable business segments.
Property casualty insurer Travelers Companies, Inc. Tuesday reported higher third-quarter profit, reflecting a decline in catastrophe losses and rise in investment income. Earnings per share topped analysts' expectations. The company said its result also benefited from net realized investment gains.
Diversified conglomerate United Technologies Corp. (UTX) Tuesday said third-quarter profit increased from the prior year as sales improved and topped estimates, driven by organic growth. Further, the company backed its full year expectations.
South African "Blade Runner" Oscar Pistorius has been sentenced to five years in prison over the killing of his girlfriend and model Reeva Steenkamp. Judge Thokozile Masipa, who found Pistorius guilty of culpable homicide last month, delivered the verdict at the High Court in Pretoria on Tuesday.
Trading in the index futures suggests that Wall Street stocks may open notably higher on Tuesday after staying afloat yesterday. Positive earnings from blue chips such as Apple and better than expected Chinese GDP data could provide some reason for traders to pick up stocks.
Consumer goods giant Reckitt Benckiser Group Plc Tuesday reported 7 percent decline in the third-quarter revenue amid tough market conditions. At constant exchange rates, sales increased 2 percent. Looking ahead, the company said it expects to deliver full-year revenue growth at the lower end of its target range.