Emerson Electric and Aflac broke out on earnings Wednesday while Bunge also popped in a down day for the markets.
Technology and engineering company Emerson Electric reported earnings per share of $1.18 on revenue of $3.946 billion, an overall beat, according to FactSet. But both earnings and sales fell double digits, year over year, declining for a third straight quarter.
Aflac, which offers supplemental insurance, posted EPS of $1.58, up 2% year on year, on revenue of $5.172 billion, down 4%. The company beat on both the top and bottom lines.
Bunge was another earnings winner. EPS jumped 25% to $3.72, crushing views. Sales slumped 16% to $15.049 billion, well below estimates. Bunge engages in the supply, processing and transportation of agricultural commodities.
Emerson, Aflac Earnings Breakouts, Bunge Pops
Emerson stock popped 3.8% to 95.14 in Wednesday's stock market action. EMR stock cleared a 93.04 buy point, the IBD MarketSmith chart shows. EMR stock came off intraday highs of 98.54.
Aflac stock rose 5.7% to 76.24. AFL stock topped a 74.02 buy point with an early entry at 73.26.
Bunge stock climbed 4.1% to 112.89. BG stock, which had been in range of a 106.99 cup-base buy point, is now extended.
The major indexes all closed lower Wednesday after Fitch downgraded the long-term rating for the U.S., weighing on investor sentiment.
