Further, the company’s net revenues (excluding excise taxes) dipped 0.3% to $6,064 million, and also came below the Zacks Consensus Estimate of $6,427 million.
However, Philip Morris International Inc. PM came out with first-quarter 2017 results, wherein adjusted earnings of $0.98 a share missed the Zacks Consensus Estimate of $1.03.
Moreover, the company recorded revenues of $2,869 million beating the Zacks Consensus Estimate of $2,729.7 million and improved 10% year over year.
The company posted revenues of $7.9 billion surpassing the Zacks Consensus Estimate of $7.7 billion.
He said the Trump administration would unveil a tax bill in near future.
as declared in
U.S. Stock Market and Gold, Post Tomahawks and MOAB
It is still an intact uptrend in stocks, possibly aided by a sentiment reset due to the recent geopolitical events, and a forward potential (?that word is important) for big changes in gold, gold stocks and silver.
Going the other way is gold, which never fails to get the terror, war or pestilence bid du jour.
The rest of the precious metals sector however, has not done so and is still a negative divergence.
Stocks are big-picture bullish until the larger trends change, gold has begun a trend change to the upside and the precious metals sector is still in non-confirmation mode.
To this point we’ve been in ‘bounce only’ mode until silver and the miners make a confirmation for gold, which got the war bid.
as declared in
“Markets have also taken in their stride another terror attack in the French capital just days before Sunday’s first round of the presidential election,” market strategists added.
However, anxieties centered on the first round of France’s closely watched presidential election offset optimism around the promises of potentially market-boosting tax cuts.
Trump announced he’d be releasing a “massive tax cut” package (http://www.marketwatch.com/story/trump-says-he-plans-to-release-massive-tax-cut-proposal-next-week-2017-04-21) in the coming week, he told the Associated Press in a Friday interview.
European stocks (http://www.marketwatch.com/story/french-stocks-slide-after-paris-attack-fuels-election-uncertainty-2017-04-21) were mixed with the Stoxx Europe 600 finishing fractionally higher and France’s CAC 40 index closing down 0.4%.
After the market closed on Thursday, Visa Inc.(V) reported better-than-expected revenue (http://www.marketwatch.com/story/visa-results-better-than-expected-but-profit-falls-2017-04-20), sending shares 0.5% higher.