Viacom B (VIAB), which is an American multinational media conglomerate, was the S&P 500’s second-best performer on Thursday. After a pullback last week, Viacom started this week on a weaker note but regained stability as the week progressed. Following a decline to four-week low price levels on Wednesday, Viacom opened higher on February 8 and rebounded from multi-week lows.
The buying pressure in Viacom increased on Thursday following the release of its stronger-than-expected earnings report. According to management, the EPS (earnings per share) in 1Q18 was $1.03—higher than analysts’ forecast of $0.95. The first quarter revenues declined 8% to $3.07 billion. According to management, improved distributor relationships helped Viacom’s progress.
On February 8, Viacom gained 7.2% and closed the day at $32.71. Viacom is part of the S&P 500 Consumer Discretionary sector, which declined 4.0% on Thursday.
Fiserv (FISV), which is a US provider of financial services technology, was the S&P 500’s third-best performer on February 8. Fiserv started this week on a weaker note but traded with mixed sentiment for two days and opened higher on Thursday. The buying pressure in Fiserv increased amid the release of the stronger-than-expected fourth-quarter earnings report.
According to management, the EPS (earnings per share) in 4Q17 was $1.41—higher than analysts’ forecast of $1.37 and an increase of 21.6%—compared to the EPS in the same period last year. The fiscal 2017 EPS was $5.12—16% growth YoY (year-over-year). The fourth quarter revenues improved 5.9% YoY and recorded $1.52 billion. A strong segmental performance and an increase in the client base supported Fiserv in the fourth quarter.
On February 8, Fiserv gained 3% and closed the day at $133.05. Fiserv is part of the S&P 500 Information Technology sector, which declined 4.2% on Thursday.
In the next part, we’ll discuss how Kellogg (K) performed on February 8.