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.
CENTRAL, Hong Kong - July 23, 2019 - PRLog -- Boeing kicks things off, as it faces its moment of truth ahead of the market open, and all of the attention will be on the troubled 737 MAX jets and Boeing's full-year outlook. Analysts polled by Bloomberg expect Boeing to report adjusted earnings of $1.96 per share on $20.45 billion in revenue for the second quarter.

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-expected second-quarter vehicle deliveries. The company delivered a record 95,200 vehicles in the three months ended June 30. The previous record was in the first quarter of 2018, when Tesla delivered 907,000 cars.

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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