MCO Q1 earnings climb

What happened: Moody's Corporation (MCO) and Waste Management Inc (WM) reported strong Q1 earnings. MCO's earnings climbed to $661 million, or $3.73 per share, up from $625 million, or $3.46 per share, last year. WM's earnings reached $723 million, or $1.79 per share, compared to $637 million, or $1.58 per share, in 2021. Wolfe Research lifted MCO's price target to $535, reflecting an increase of ~2%.

Market impact: These earnings reports positively impacted the financial and waste management sectors. MCO's strong performance, driven by record first-quarter rated issuance, boosted investor confidence in the financial sector. WM's earnings growth, driven by increased volumes and higher prices, positively affected the waste management industry. The bullish sentiment led analysts to upgrade MCO's stock and recommend it as a top pick.

What to watch next: Investors should closely monitor MCO's and WM's upcoming earnings calls, scheduled for May 4 and May 5, respectively. Additionally, they should keep an eye on the broader market trends, as any significant shifts could impact these companies' stock performance.