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Earnings reports are going to drive the markets again today with over 350 companies reporting. Reports have already started to come in this morning, causing some stocks to move over 9% before the opening bell. Earnings reports will also be the biggest factors moving the three stocks on today's watch list.
Now that we know what's moving markets, here are the three top stocks to watch today…
Top Stocks to Watch Today: Chesapeake Energy Corp. (NYSE: CHK)
Chesapeake Energy stock is up 1.8% in early morning trading after posting a better than expected earnings report.
The oil and natural gas producer announced earnings per share (EPS) of $0.08, beating last year's loss of $1.66 per share. Adjusted EPS was $0.23, which is above analysts' expectations of $0.18.
Revenue grew from $1.95 billion for the same quarter last year to $2.75 billion this quarter.
The company also expects oil production to grow in the second half of 2017, citing more of its wells increasing productivity.
CHK stock is currently trading at $5.54 for a loss of 21.1% so far this year.
Top Stocks to Watch Today: Avon Products Inc. (NYSE: AVP)
Avon stock is down 7.5% in early morning trading after announcing disappointing earnings.
The cosmetics company announced a loss of $0.10 per share. This is an improvement from the loss of $0.38 per share for the same quarter a year earlier. However, the adjusted EPS of -$0.07 was below the expected EPS of $0.01.
Revenue rose 2% this quarter, coming in at $1.33 billion. Avon expects revenue to grow less than 10% this year.
AVP stock is trading at $4.65 for a loss of 7.7% year to date (YTD).
Top Stocks to Watch Today: Fitbit Inc. (NYSE: FIT)
Fitbit stock is up 9.2% in early morning trading after posting its earnings report.
The health and fitness device company reported a loss of $0.27 per share, down from a net income of $0.05 per share for the same quarter a year ago. Adjusted losses were $0.15 per share, which beat the expectations of a loss of $0.18 per share.
However, revenue has taken a large hit. Last year, revenue was $505.4 million. This quarter, it was only $289.9 million. That does beat the $279 million expectation for revenue, though.
FIT is currently trading at $5.68 for a loss of 22.4% YTD.
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