Why 3M, Xilinx and the Altria Group collapsed today



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<p class = "canvas-atom-text-canvas Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Thursday was another mixed day on Wall Street, with a balanced list of good and bad results published by the dozens of companies that have announced their latest results.Investors note the largest quarterly reporting flow so far for this earnings season, and the performance of the leading indices of Today's benchmark is largely dependent on certain leading stocks have recorded considerable losses as a result of disappointing earnings news, and 3M (NYSE: MMM), Xilinx (NASDAQ: XLNX), and Altria Group (NYSE: MO) were among the worst performers. Here's why they hurt so badly. "Data-reactid =" 11 "> Thursday was another mixed day on Wall Street, with a balanced presentation of good and bad results among the dozens of companies that have announced their latest results.The largest number of quarterly reports recorded up to now during this season's results and the performance level of the current major benchmarks largely depend on the parts of the market on which each index is stressed. 3M (NYSE: MMM), Xilinx (NASDAQ: XLNX), and Altria Group (NYSE: MO) were among the worst performers. Here's why they hurt so badly.

3M disappoints investors

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "3M shares plunged 13% after the manufacturer of Post-it notes presented a financial report for the first quarter, which resulted in the biggest loss of the stock since the stock market crash of 1987. 3M's revenues decreased by 5% from their level of the the previous year, which resulted in an 11% decrease in adjusted earnings per share.) Mike Roman, Chief Executive Officer, described the results as "a disappointing start to the year for 3M", attributing this shortfall to poor end-market conditions and poor operational execution.In response, the conglomerate will restructure in order to improve productivity, reduce spending and However, many investors do not seem convinced that these changes will be enough to create a significant change at 3M, and poor performance in several key segments indicates that the situation could be more painful in the short term before things improve for society. "data-reactid =" 13 "> 3M shares plunged 13% after the Post-it maker reported a financial report for the first quarter This resulted in the largest loss of action since the 1987 stock market crash. 3M's revenues were down 5% year-over-year, resulting in an 11% decline in adjusted earnings per share. CEO Mike Roman described the results as "disappointing start of the year." "Year for 3M," attributing the shortfall to the bad conditions of the key end markets and poor operational execution. In response, the conglomerate will restructure in order to improve productivity, reduce expenses and increase cash flow. Still, many investors do not seem convinced that the changes will be enough to create significant changes at 3M and that the poor performance in several key segments suggests that the situation could be more painful in the short term before things happen. improve for society.

Several people in front of display boards with a wide assortment of Post-it Notes.

Source of the image: 3M.

Xilinx falls short

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Xilinx saw its stock fall by 17% following the release of its fourth quarter financial results. The chip maker said that revenue was up 30 percent for the quarter from the previous year, resulting in a 34 percent jump in adjusted earnings per share over the same period. President and CEO Victor Peng celebrated the end of a successful year for the company, highlighting the particularly strong success of its advanced products business. Growth rates were highest in the Asia-Pacific region and in the final communications market. Investors, however, wanted to see signs of faster growth, especially in light of the even better performance of some of his peers. Xilinx hopes to tap the growth potential of 5G, but shareholders are worried that competition will be fierce. "Data-reactid =" 27 "> Xilinx saw its share fall 17% after the release of its fourth quarter financial results.The chip maker said revenue was up 30% for the quarter from the previous quarter. The previous year, resulting in a 34% increase in adjusted earnings per share over the same period.The CEO, Victor Peng, celebrated the end of a successful fiscal year for the growth rates were the in the Asia-Pacific region and in the final communications market, but investors wanted to see signs of faster growth, particularly in light of the even better performance of some companies, which Xilinx hopes to exploit the growth potential of 5G, but shareholders fear that competition is fierce.

Altria gets a smoke

<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Finally, the actions of Altria Group down 6%. The cigarette giant said that adjusted earnings per share in the first quarter of 2019 had dropped 5% over the same period of the previous year, due to a decline of nearly 8% revenues. The volume of domestic cigarette shipments dropped by 14% due to a decline of more than 3 billion units in shipments of Altria's flagship Marlboro brand. The rise in gasoline prices weighed on consumer purchases, which led Altria to forecast a larger annual volume decrease than expected. Tobacco Titan plans to implement cost-cutting measures to improve its profits, but investors do not seem confident that Altria will be able to meet its 2019 targets – nor that recent investments in Electronic cigarettes company Juul or a cannabis producer Cronos Group "data-reactid =" 29 "> Finally, the Altria group's shares fell by 6% .The cigarette giant said that the adjusted earnings per share in the first quarter of 2019 fell by 5% compared to the same previous year period, thanks to The volume of domestic cigarette shipments fell by 14%, driven by a decline of more than 3 billion units in shipments of Altria's Marlboro flagship brand The rise in gasoline prices has weighed on consumers' purchases, which has led Altria to project a price tag. investors do not seem convinced that Altria will be able to meet its targets of 2019 – nor that recent investments in the sector of the cigarette maker Juul or cannabis producer Cronos Group will pay.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " More from The Motley Fool "data-reactid =" 30 "> More from The Motley Fool

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Dan Caplinger has no position in any of the actions mentioned. The Motley Fool recommends 3M and Xilinx. The Motley Fool has a disclosure policy."data-reactid =" 38 ">Dan Caplinger has no position in the mentioned actions. The Motley Fool recommends 3M and Xilinx. Motley Fool has a disclosure policy.

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