Earnings Update & Tesla

Abiomed ABMD 306.03 -6.15 -1.97% reported before the bell and investors aren’t happy. Although they matched $1.07 per share, revenue fell short $207.1 M vs $216.4 M. The whisper number was $1.10. They also put out lower expectations than consensus, $900-945 M vs $981.6 M estimate.

The other big loser today is Fluor FLR 21.24 +0.58 +2.81%. They reported a loss of $0.14 per share on revenue of $4.1 B. Big miss, consensus estimates were for $0.54 per share on revenue of $4.8 B. They also lowered guidance, expecting 2019 to come in at $1.50-$2.00 per share, previous guidance was $2.50-$3.00, estimates were for $2.77… way out of reach.

Under Armour UAA 14.81 -0.96 -6.09% had a great quarter(for them) and is expecting a rosy future. They reported $0.05 per share on revenue of $1.2 B. Estimate was for break-even on $1.2 B. Revenue grew 1.6% year over year. They raised guidance slightly from $0.31-0.33 to $0.33-$0.34. I guess the expectations for this company are pretty low and any light causes a decent jump in the stock. To put it in perspective, Nike earned $0.68 per share on revenue of $9.5 B, and a growth of 7%. Adidas has yet to report for current quarter, but last quarter revenue was $6.1 B, earning $0.27 per share, revenue growth 2.2% YoY. UAA is far behind it’s competitors, and doesn’t appear to be making up any ground.

Good ol Tesla TSLA 1,022.37 +35.42 +3.59% is going back to the bank. Although Elon Musk had previously said they wouldn’t need to raise additional cash, they are doing just that. The company’s cash reserve has fallen to just over $2 B and they reported a big loss last quarter… $702 M. Tesla plans to sell about $650 M in stock and $1.35 B in convertible debt.