PG - 4 stocks to watch on Friday: Procter & Gamble HCA Healthcare and more

2023-04-21 08:19:20 ET

Following a decline the previous day, stocks look poised for another dip at the start of Friday's trading. Another influx of earnings reports will influence trading. Here are some stocks to watch on Friday:

• Procter & Gamble ( NYSE: PG ) edged up in premarket trading after beating expectations with its Q3 results. Organic sales rose 7% from last year and gross margin expanded, as the consumer products maker increased prices by 10%. This offset a 3% dip in volume.
• Clorox ( CLX ) announced a cost-cutting effort that includes cutting about 200 positions. This represents approximately 4% of its nonproduction workforce. The cleaning products maker said the move was part of its IGNITE program, an initiative aimed at streamlining its business.
• HCA Healthcare ( HCA ) climbed 6% in premarket trading, boosted by better-than-expected quarterly results . The hospital operator reported Q1 non-GAAP EPS of $4.93, exceeding consensus by more than 25%. Revenue advanced 4% to $15.59B and beat projections by $330M.
• Schlumberger ( SLB ) exceeded projections with its earnings and revenue figures. The top-line total rose 30% from last year to $7.7B, while adjusted EBITDA climbed 43%. "Looking at the macro, we maintain our very constructive multiyear outlook as the upcycle attributes and key activity drivers continue to evolve very positively," the company's CEO said.

For more on the overall market, Seeking Alpha contributor Tomasz Zaton has a bearish view of stocks, arguing that the "free money environment is gone and the Everything Bubble is in the process of bursting ."

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