EconoTicker

Ford Motor (F) posted strong Q3 2024 earnings with an EPS of $0.49, exceeding the forecast of $0.47. Revenue reached $46.2 billion, surpassing the expected $45.32 billion, while Ford's market cap is valued at $44.01 billion. This better-than-expected report highlights Ford's solid quarterly performance, as both earnings and revenue outpaced projections.

McDonald’s U.S. head implemented new safety measures Wednesday in response to an E. coli outbreak linked to Quarter Pounder burgers, Reuters reported. The outbreak has led to at least one fatality and nearly 50 illnesses, prompting the company to remove the burger from locations across 12 states. According to the CDC, 10 people have been hospitalized with serious complications. McDonald’s emphasized that the outbreak is confined to the U.S., and the company’s head assured, “it will never happen again.”

In September 2024, U.S. Durable Goods Orders presented mixed results, with Core Durable Goods Orders rising by 0.4%, above expectations of -0.1%, suggesting steady demand in key sectors excluding transportation. Although overall Durable Goods Orders fell by 0.8%, in line with forecasts, this decline was better than the 1.1% expected fall and reflects broader economic pressures. Excluding defense, orders decreased by 1.1%, a slight improvement over the previous month’s -1.3%, while non-defense capital goods orders excluding aircraft rose by 0.5%, indicating sustained business investment. This resilience in core sectors hints at underlying confidence in the economy, despite moderating overall durable goods demand.

In September 2024, New Home Sales rose by 4.1%, reaching 738K, compared to the previous month's 719K and exceeding expectations of 709K. However, Building Permits experienced a decline of 3.1%, falling to 1.425 million from 1.428 million in August, which was slightly below the forecast of 1.470 million. The drop in building permits indicates potential challenges in future housing starts despite the positive momentum in new home sales.

In October 2024, the United States S&P Global Services PMI came in at 55.3, surpassing the forecast of 55, indicating continued expansion in the services sector. The S&P Global Manufacturing PMI also exceeded expectations, reaching 47.8 against a forecast of 47.5, though it still reflects contraction in the manufacturing sector. Meanwhile, the S&P Global Composite PMI rose slightly from 54 to 54.3, signaling modest growth in overall business activity, driven primarily by the strong performance of the services sector.

The latest US Initial Jobless Claims report showed an increase to 227K for the week ending October 18, down from the previous week's 242K (revised from 241K), coming in below expectations. The Continuing Jobless Claims also rose, reaching 1.897 million for the week ending October 11, an increase of 28K. Additionally, the four-week moving average of jobless claims climbed to 238.5K, reflecting a 2K rise from the previous week's revised average. The insured unemployment rate remained steady at 1.3%, indicating a gradual increase in unemployment claims over recent weeks.

In its Q3 2024 earnings report, Dow (DOW) reported an earnings per share (EPS) of $0.47, meeting expectations. The company’s revenue totaled $10.9 billion, surpassing the forecasted $10.68 billion. Dow's market capitalization currently stands at $35.79 billion. The results reflect a stable performance, with revenue slightly exceeding projections while maintaining expected earnings.

In its Q3 2024 earnings report, Nasdaq Inc (NDAQ) reported an earnings per share (EPS) of $0.74, beating the expected $0.69. However, the company's revenue totaled $1.15 billion, slightly below the forecasted $1.17 billion. Nasdaq's market capitalization is currently $43.13 billion. While the revenue fell short of expectations, the stronger-than-anticipated earnings highlight the company's resilience in a competitive market.

In its Q3 2024 earnings report, Honeywell (HON) posted an earnings per share (EPS) of $2.58, surpassing expectations of $2.50. However, the company’s revenue came in at $9.7 billion, slightly below the forecasted $9.91 billion. Honeywell’s market capitalization currently stands at $137.81 billion. Despite the revenue miss, the stronger-than-expected earnings reflect solid performance across its key segments.

In its Q3 2024 earnings report, Union Pacific (UNP) reported an earnings per share (EPS) of $2.75, slightly missing expectations of $2.78. The company’s revenue totaled $6.09 billion, also falling short of the forecasted $6.14 billion. Union Pacific's market capitalization currently stands at $140.14 billion. Despite the slight miss on both earnings and revenue, the company remains a key player in the transportation sector.

• Composite PMI decreased to 51.7, down from the expected 52.6, indicating slower overall economic growth.
• Manufacturing PMI dropped to 50.3, below the forecasted 51.5, but still above the 50 mark, signaling marginal expansion in the manufacturing sector.
• Services PMI came in at 51.8, slightly lower than the 52.3 estimate and previous 52.4, showing continued but weaker growth in the service sector.
• Labour Productivity increased by 0.1%, indicating modest improvements in workforce efficiency.

Overall, the UK economy continues to expand, though at a slower pace compared to previous months.

IBM (IBM) reported its Q3 2024 earnings with an earnings per share (EPS) of $2.30, surpassing expectations of $2.22. The company's revenue came in at $15 billion, slightly below the forecasted $15.04 billion. IBM's market capitalization stands at $214.4 billion, and this report reflects a solid earnings performance despite a marginal revenue miss.