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Reliance Trading Co. Limited – US Markets, the Day Ahead – Earnings in Focus
The earnings extravaganza continues on Wednesday with reports from heavyweights Boeing before the opening bell and Facebook, Microsoft and Tesla after the closing bell.
By: Reliance Trading Co. Limited
Despite the bad news for Boeing, shares of the Dow component are up more than 16% so far in 2019 and have been outperforming the broader market. Analysts polled by Bloomberg are expecting Boeing to report earnings of $3.25 per share on $22.90 billion per revenue.
Then after the market close, tech giants Facebook and Microsoft and electric car maker Tesla will release financial results.
Despite its lingering data privacy woes, Facebook has been able to quell investor concerns by posting better-than-
Active users, a key metric for social media companies, will remain in focus. "In Q1:19, we are estimating (year-over-year monthly active user) growth of 9% to 2.39B," analyst Alison Wang of Reliance Trading predicted. Growth within the Stories part of the business will also be critical.
Analysts are expecting Facebook to report earnings of $1.94 per share on $14.97 billion in revenue during the quarter.
Microsoft will also be reporting earnings after the market close on Wednesday. The stock has been on a tear, hitting record highs on Tuesday and jumping 24% in 2019. Microsoft is expected to report earnings of $1.00 per share on $29.86 billion in revenue.
Finally, Tesla will report after the bell. Despite stocks hitting record highs, Tesla has been sitting out of the rally. Shares have tumbled nearly 21% this year. CEO Elon Musk previously warned that Tesla wouldn't be posting a profitable quarter. Tesla is expected to post an earnings loss of $1.30 per share on $4.84 billion in revenue.
Other notable earnings reports scheduled for Wednesday include Anthem, AT&T, Biogen, Caterpillar, Domino's, Norfolk Southern, Northrop Grumman, Novartis before market close. Boston Beer, Chipotle, O'Reilly Auto, PayPal and Visa after market close.
About Reliance Trading Co. Limited
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Reliance Trading Co. Limited