Amgen (AMGN) Stabilized, Electronic Arts (EA) Surged While Ferrari (RACE) Fell Following Quarterly Reports

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The U.S. pharmaceutical giant Amgen Inc. (AMGN) unveiled a cautious outlook for the 2021 fiscal year. In contrast to consensus above $17, the group estimates adjusted earnings per share to range from $16 to $17 over the period. Annual sales, relative to a forecast of $26.4 billion, are projected to be between $25.8 billion and $26.6 billion. The company expects the sale rates of its drugs to fall further, as the pandemic is already impacting sales. Amgen posted adjusted earnings per share of $3.81 in the fourth quarter alone, which was well beyond consensus. Net earnings fell 3% to $2.76. Revenue rose to $6.6 billion, up 7 percent.

Adjusted earnings per share for the third quarter of $3.09 were posted by Electronic Arts Inc. (EA), compared to a forecast of $2.94 and an EPS of $2.79 for the same time last year. In the quarter ended December 2020, the U.S. video game publisher created $2.4 billion in booking sales, 1 percent above consensus. Compared to $1.59 billion a year ago, quarterly sales were $1.67 billion. Compared to $346 million and $1.18 per share a year ago, adjusted net income was $211 million and 72 cents per share. According to FactSet, the net consensus EPS was 77 cents. The company expects a loss per share of 7 cents and sales of $1.32 billion for the fiscal fourth year. The annual EPS, with sales of $5.6 billion, is forecast to grow to $2.54.

Revenues and earnings of Ferrari N.V. (RACE) grew for the fourth quarter of 2020, with the firm reporting its goals for 2021. The quarter’s net profit stood at EUR 262 million ($314.4 million), relative to EUR 167 million a year before, the Italian sports car industry reported. EBITDA amounted to EUR 372 million, relative to EUR 333 million, while earnings before taxes and interest climbed from EUR 219 million to EUR 251 million. For the year, sales rose by 15 percent to EUR 1.07 billion, with revenue for the year remaining at EUR 3.46 billion. Analysts had predicted EUR 1.03 billion in quarterly sales. The firm has met the 2020 goals. For 2021, the organization expects EUR 4.3 billion in total sales and EUR 1.45-1.50 billion in adjusted EBITDA.

In regular session on Tuesday, Amgen Inc. (AMGN) stock remained stable by +0.02% to $240.49 and that of Electronic Arts Inc. (EA) grew +2.13% to $148.97 while Ferrari N.V. (RACE) dropped -4.24% to $207.79.

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