Stocks Recoup Fraction Of Friday’s Losses (HAL, HAS, DAL, PETS, IMAX)

Stocks recovered some of Friday’s losses, but it wasn’t exactly an inspiring rally. There’ll be a lot of earnings news to chew on this week, which should help drive the direction of the market.

The Photographic Equipment Stocks Index was the top performing tickerspy Index on the day, led by IMAX (IMAX) with a 6% gain.

Stocks rose on the day, with the Dow up 57 points to 10,154. The S&P rose 6 points to 1,071, while the Nasdaq climbed 19 points to 2,198. Oil edge 53 cents higher to $76.54 a barrel, while gold slipped -$6.30 to $1,181.70 an ounce.

On the economic front, the NAHB/Wells Fargo Housing Market index, which measures homebuilders’ confidence, fell -2 points to 14 in July, its lowest level since April 2009. Economists were expecting a reading of 16.

In earnings news, shares of Halliburton (HAL) advanced 6.0% after the oil service company’s second-quarter profit surged 83%. For the quarter ended June 27th, Halliburton earned $480 million, or 53 cents a share, up from $262 million, or 29 cents a share, the same time last year. Revenue rose 26% to $4.39 billion. Analysts were looking for EPS of 37 cents on revenue of $4.09 billion. Looking forward, the company said it expects the ban on deepwater drilling hurt EPS by -5 to -8 cents per quarter in the second half of the year. A total of 58 pro investors counted the stock among their holdings at the start of Q2, while 700 tickerspy members included the stock in their portfolios.

Toymaker Hasbro (HAS) posted a Q2 profit of $43.6 million, or 29 cents per share, up 11% from $39.3 million, or 26 cents per share, a year ago. Sales dropped -7% to $737.8 million. The consensus was for EPS of 24 cents on revenue of $748.3 million. Royalty payments and several key costs dropped during the quarter counteracting the revenue decline. “We continue to expect our revenues to be more heavily weighted to the second half of the year as our major initiatives are beginning to launch,” CEO Brian Goldner said. The stock inched down -0.4%.

Shares of Delta Air Lines (DAL) slipped -2.9% after the airline operator missed Q2 revenue estimates. For Q2, the company recorded a profit of $467 million, or 55 cents per share, compared to a loss of -$257 million, or -31 cents per share, a year earlier. Excluding one-time items, adjusted EPS was 65 cents, beating the consensus projection of 63 cents per share. Revenue climbed 17% to $8.17 billion from $7.00 billion last year, but fell just short of the $8.25 billion consensus. A total of 15 pro investors counted the stock in their holdings at the start of Q2, while 238 tickerspy members hold shares in their portfolios

Shares of online pet pharmacy PetMed Express (PETS) fell -5.5% after missing fiscal Q1 estimates. For the quarter, the company reported net income of $7.2 million, or 32 cents per share, down -11% from $8.1 million, or 36 cents per share, last year. Sales fell -4% to $74.4 million. Analysts were looking for EPS of 38 cents on sales of $81.1 million.

Tags: DAL, HAL, HAS, IMAX, PETS