— provided financial updates on Tuesday that fell short of what investors and analysts were expecting.
As of last Friday, with 15% of the companies in the S&P 500 reporting results, 84% had posted positive earnings surprises and 64% had reported positive sales surprises, according to FactSet. On Sept. 30, the estimated earnings decline for Q3 2019 was 4%Attempts by the Golden Arches to lure customers in with promotions failed to gain market share from competitors like Burger King's parent company and Wendy's. McDonald'sversus $2.
Investors were unnerved, however, when management said they expect 2020 revenues to grow just 5% to $62 billion. Analysts had forecast Lockheed to guide 2020 sales up north of 6%. The stock fell 0.6% in afternoon trading.Shares of the insurer sank more than 6% after posting a profit of $1.43 per share, a big miss versus analysts' expectations of $2.35 earnings per share, according to Refinitiv. The miss was driven by a sharp increase in reserves during the quarter.
that topped analyst expectations. Procter & Gamble reported earnings per share of $1.37 versus expectations of $1.24, driven by its beauty, health care and fabric and home care lines, the company said.
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