NEW YORK, November 10, 2017 /PRNewswire/ --
The U.S. stocks are up more than 20 percent since the U.S. election in 2016. The major three major indexes continue to set record highs in 2017. According to Reuters, The Dow Jones Industrial Average has closed at record highs for more than 70 times since November 8, 2016. While S&P 500 has closed at all-time highs for 52 days. Ryan Detrick, Senior Market Strategist at LPL Financial, in a post: "Although no one at the time would have believed it, the 12 months since Election Day have been among the least volatile ever for equity markets. Not to mention the solid 21% gain the S&P 500 Index racked up along the way that has the bulls smiling." Priceline Group Inc (NASDAQ: PCLN), Tripadvisor Inc (NASDAQ: TRIP), Weight Watchers International, Inc. (NYSE: WTW), Walt Disney Co (NYSE: DIS), NVIDIA Corporation (NASDAQ: NVDA).
The strong performance in the U.S. stock market are boosted by better-than-expected corporate earnings, improving economic data as well as investors' optimism in the tax reform plan. According to FactSet, 73 percent of S&P 500 companies reported better-than-expected earnings in the second quarter. Technology is one of the best-performing sectors this year. The tech-heavy Nasdaq Composite Index is up nearly 25 percent year-to-date, outperforming 18.44 percent increase in Dow and 15.12 percent gain in S&P 500.
Priceline Group Inc (NASDAQ: PCLN) reported Monday its 3rd quarter 2017 financial results. Third quarter the company's gross profit for the 3rd quarter was $4.4 billion, a 22% increase from the prior year (approximately 19% on a constant-currency basis). International operations contributed gross profit in the 3rd quarter of $4.0 billion, a 23% increase versus a year ago (approximately 20% on a constant-currency basis). Net income in the 3rd quarter was $1.7 billion, a 240% increase versus the prior year, which included a $941 million goodwill impairment charge. Net income was $34.43 per diluted share, a 240% increase as compared to the prior year.
Tripadvisor Inc (NASDAQ: TRIP) announced earlier this week its financial results for the third quarter ended September 30, 2017. Total Revenue was $439 million, an increase of $18 million, or 4% year-over-year. Non-Hotel Revenue grew 26% year-over-year, led by growth in Attractions and Restaurants, and Non-Hotel Adjusted EBITDA was $44 million for a 35% Adjusted EBITDA margin. Average monthly unique hotel shoppers reached 163 million, up 7% year-over-year. "We are making progress on our 2017 initiatives," said Chief Executive Officer Steve Kaufer. "In Hotels, we are pursuing profitable long-term revenue growth through an improved shopper experience and a marketing shift to brand-building channels. In Non-Hotels, we are investing to increase our lead, particularly in Attractions, as we broaden our marketplace and further deepen traveler engagement in more moments on their trip."
Weight Watchers International, Inc. (NYSE: WTW) announced its results for the third quarter of fiscal 2017 and raised its full year fiscal 2017 earnings guidance. Revenues in Q3 2017 of $324 million, up 15%, or 14% on a constant currency basis, year-over-year. FY 2017 EPS guidance raised to a range of $1.77 to $1.83 versus prior guidance of $1.57 to $1.67. Total Paid Weeks in Q3 2017 up 20% year-over-year "Weight Watchers delivered strong performance across all major geographies in the third quarter, which resulted in high-quality earnings results," said Mindy Grossman, the Company's President and CEO. "We are excited about the upcoming winter season and the launch of our new program, which has received highly positive and enthusiastic feedback in consumer trials. We have a tremendous opportunity to continue to evolve Weight Watchers into a global, healthy living brand."
Walt Disney Co (NYSE: DIS) reported earnings for its fourth quarter and fiscal year ended September 30, 2017. Diluted earnings per share (EPS) for the fourth quarter increased 3% from $1.10 in the prior-year quarter to $1.13 in the current quarter. "No other entertainment company is better equipped to navigate the ever-evolving media landscape, thanks to our unparalleled collection of brands and franchises and our ability to leverage IP across our entire company," said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. "We look forward to launching our first direct-to-consumer streaming service in the new year, and we will continue to invest for the future and take the smart risks required to deliver shareholder value."
NVIDIA Corporation (NASDAQ: NVDA) reported yesterday record revenue for the third quarter ended October 29, 2017, of $2.64 billion, up 32 percent from $2.00 billion a year earlier, and up 18 percent from $2.23 billion in the previous quarter, with growth across all its platforms. "We had a great quarter across all of our growth drivers," said Jensen Huang, founder and chief executive officer of NVIDIA. "Industries across the world are accelerating their adoption of AI. GAAP earnings per diluted share for the quarter were a record $1.33, up 60 percent from $0.83 a year ago and up 45 percent from $0.92 in the previous quarter. Non-GAAP earnings per diluted share were $1.33, also a record, up 41 percent from $0.94 a year earlier and up 32 percent from $1.01 in the previous quarter.
Follow us on Twitter for real time Financial News Updates: https://twitter.com/FinInsiders
Follow and talk to us on Instagram: https://www.instagram.com/financialinsiders/
Facebook Like Us to receive live feeds: https://www.facebook.com/financialinsiders/
Financialinsiders.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially-driven digital space, video production and integration of social media, FinancialInsiders.com creates 100% unique original content. FinancialInsiders.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
For further information:
These press releases may also interest you