Stock News- Where Others Did Better, QUALCOMM Incorporation (NASDAQ:QCOM) Missed All the Estimates

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By David Scouts on November 7, 2014 Company

The average of Dow Jones Industrial increased by 0.4 percent today and closed at a total of 17,554.47 points. The tech composite of Nasdaq and Standard & Poor 500 (S&P 500) also rose by 0.4 percent and reached to 4,638.47 and 2,031.21 respectively. As far as the CBOE Index is concerned, the figures dropped by 3.5 percent and came down to 13.67.

Market traders exchanged a total of 6 billion stocks on the last trading day, November 06, 2014. It is important to note here that this trading volume was much lower than the market average of 7.3 billion.

Draghi, on November 06, said that the members of ECB are in a process of drafting new policy tools in order to beat the inflation that is prevailing in the market these days.

On the other hand, the Department of Labor in U.S. reported that the claims made by jobless people dropped by 10,000 when compared with the claims of last week. Last week, the total tally was 278,000. It is pertinent to note here that it has been the 8^th week in a row when the claims stayed below the figures of 300,000.

Meanwhile, the Bureau of Labor Statistics released a report, which stated that the productivity of laborers increased by 2 percent on annual basis during the third quarter of the year 2014. Where this rate was higher than the consensus estimate of 1.3 percent, it was still lower than the rate of second quarter.

Coming to the earnings news, the stocks of Whole Foods Market, Inc. (NASDAQ:WFM) spiked up by 12.2 percent when the company posted its 4^th quarter’s earnings report, beating the consensus of 32 cents by 3 extra cents. The supermarket chain reported a yearly increase of 9.4 percent in its total sales, with figures as high as $3,256 million. The largest gainer of Standard & Poor 500 for Thursday was Whole Foods Market.

Tesla Motors Inc. (NASDAQ:TSLA) reported an increase of almost 55 percent in its third fiscal quarter’s revenues, with figures as high as $932.3 million. The company reported total revenues of $602.6 million for the same time period a year back. These revenue figures of Tesla were way ahead of Zacks estimate of $868 million. The stocks of the company rose by 4.4 percent.

Stocks of Hospira, Inc. (NYSE:HSP) increased by 6.7 percent when the company announced its adjusted earnings for the third quarter. Hospira posted earnings of 74 cents, which were way higher than the market estimates of 53 cents.

The stocks of QUALCOMM Incorporation (NASDAQ:QCOM), on the other hand, saw a decline of 8.6 percent after the company posted its fourth fiscal quarter’s adjusted earnings. The consensus estimate for the company’s adjusted earnings was $1.20: however, it reported EPS of $1.14. The company also missed market estimates in its revenues segment. Market researchers were expecting total revenues of $7,005 million, but the company only managed to report revenues of $6,692 million. QUALCOMM also predicted the EPS for its first quarter of 2015. The range provided by the company was from $1.04 to $1.16, whereas the market estimates were as high as $1.28.