Union Pacific Corporation (NYSE:UNP) stock was full steam ahead after the company posted a first quarter earnings beat early Thursday and announced a strategy to streamline operations. The railroad company saw earnings of $1.93 per share, topping Street expectations of $1.89 EPS. The beat came despite struggles with severe winter weather and flooding. The Omaha-based company also announced it was halting construction of a $550 million operation in Texas and closing two train-sorting facilities the Wall Street Journal reported.
Shares chugged up 4.4% to finish at $176.66.
Pinterest Inc (NYSE:PINS) surged on its first day of trading. The digital pinboard opened at $23.75, easily topping its IPO price of $19. That price gave the San Francisco company a valuation of $12.7 billion. Launched in 2010, the company booked $756 million in sales over the last 12 months.
Investors pinned this ticker to their stock boards, raising the price more than 28% to $24.43.
American Express Company (NYSE:AXP) recovered after a pre-market dip after reporting first quarter results early Thursday that didn’t deliver on revenue. The credit company saw revenue rise 7% over the previous year's quarter to $10.4 billion, just below Street expectations of $10.5 billion. On top of that, expenses rose 11% to $7.6 billion and net income dropped 5% to $1.5 billion. Adjusted earnings, however, rose 8% to $2.01 per share, topping estimates of $1.98 EPS.
The stock was up 1.7% to close at $113.69.
Honeywell International Inc (NYSE:HON) rallied, thanks to strong quarterly results and increased guidance. The aerospace and manufacturing company saw sales drop 15% year-over-year to $8.8 billion, but still beat expectations of $8.6 billion. EPS jumped 13% to $1.92, comfortably ahead of an expected $1.83. Looking ahead, the New Jersey company boosted its full-year projected EPS to between $7.90 and $8.15 and sales to between $36.5 billion and $37.2 billion. Analysts expect an EPS of $7.98 on revenue of $36.8 billion.
Shares were up 3.8% to $169.04.
Shares of The Blackstone Group LP (NYSE:BX) took a leap Thursday after announcing it would transition into a corporation from a partnership, allowing mutual funds and index trackers to buy its stock. The asset manager also posted first quarter results before the bell. The New York company posted $0.44 EPS on $2 billion, compared to Street estimates of $0.52 EPS on revenue of $1.98 billion.
Investors liked the switch, boosting the share price 7.7% to $38.68.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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