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Altrice Investment Co. Limited – Busy Day for Earnings Reports in the US
Embattled industrial giant Boeing takes center stage Wednesday morning, while social media company Facebook and electric automaker Tesla grab investors' attention after the closing bell.
Boeing will be releasing updated full-year guidance, as well as more updates on the impact of the 737 MAX groundings, on the earnings conference call, which kicks off at 10:30 a.m. ET.
After the bell, investors will shift their focus to Facebook and Tesla.
Facebook's second-quarter results will be pivotal for the company. After being forced to take a defensive stance, 2019 is the start of Facebook's shift back to offense, according to James Hendricks, US Strategist at Altrice Investments said.
Updates on Facebook's cryptocurrency project Calibra are also expected on the company's earnings conference call.
Facebook is expected to report adjusted earnings of $2.24 per share on $16.5 billion of revenue, according to data compiled by Bloomberg.
Finally, Tesla takes the hot seat.
With profitability and deliveries very closely scrutinized, analysts and investors will be paying attention to are the average selling price (ASP), gross margins, and full-year delivery target guidance when Tesla reports.
Earlier this month, Tesla reported better-than-
Analysts surveyed by Bloomberg expect Tesla to report an adjusted earnings loss of 31 cents per share on $6.44 billion in revenue.
Other notable earnings reports scheduled for Wednesday include Anthem, AT&T, Caterpillar, Freeport-McMoran, Norfolk Southern, Northrop Grumman, UPS, V.F. Corp before market open. Deutsche Bank, Ford, GlaxoSmithKline, O'Reilly, PayPal, Spirit Airlines, Xilinx will report after the market close.
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