Notable Earnings: ArcelorMittal (MT), Gogo Inc. (GOGO), Cognizant (CTSH), Weyerhaeuser (WY)

ArcelorMittal (MT) shares are down $0.14, or 2.64%, to $5.17 in pre-market trading Friday after the company reported first quarter 2016 earnings results.

The world’s biggest steelmaker posted earnings loss of ($0.23) per share on revenues of $13.40 billion, down 21.70% from a year ago. Analysts were expecting EPS of ($0.20) on revenues of $14.25 billion.

“Our results for the first quarter reflect the very tough operating conditions in the second half of 2015,” Chief Executive Officer Lakshmi Mittal said in a statement. ”Since that time, we have seen a recovery in spreads in our core markets to more sustainable levels, which is expected to result in improved results in the coming quarters.”

In terms of net debt, the company said that as of March 31, 2016 the figure was at $17.3 billion , as compared to $15.7 billion as of Dec. 31, 2015.

mt stock

Gogo Inc. (GOGO) is down 0.19% to $10.28 in pre-market trading after it reported fiscal-first quarter earnings.

The in-flight Internet provider handed in earnings of ($0.31) per share on revenue of $141.7 million, beating Wall Street estimates of ($0.40) per share on revenue of $137.36 million.

For full fiscal-year 2016, Gogo Inc provided revenue guidance of $575-$595 million, compared to the consensus revenue estimate of $586.00 million.

GOGO stock currently prints a one year loss of about 51% and a year-to-date loss of around 42%.

The chart below shows where the equity has traded over the last 52 weeks.

gogo stock

Cognizant Technology Solutions Corporation (CTSH) dropped $0.59 to $57.00 in pre-market trading after it reported fiscal results for the first quarter.

In its quarterly report, the IT consulting and outsourcing firm said it earned $0.80 per share, one penny above analysts were expecting. Revenue rose 7.0% year over year to $3.20 billion, below views for $3.23 billion.

For the current quarter ending in July, Cognizant expects its EPS to range from $0.80 to $0.82 versus consensus of $0.84 per share.
The company said it expects revenue in the range of $3.34 billion to $3.4 billion, as compared to analysts’ expectations of $3.41 billion.

ctsh stock

Weyerhaeuser Co. (WY) reported first quarter non-GAAP EPS of $0.24 before the opening bell Friday, compared to the consensus estimate of $0.20. Revenues increased 0.8% from last year to $1.74 billion. Analysts expected revenues of $1.97 billion. The stock is currently flat at $31.54 a share. Weyerhaeuser shares have risen 5.57% percent year-over-year and 6.41 percent since the beginning of the year.

The chart below shows where the equity has traded over the last 52 weeks.

wy stock

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