Follow on Google News News By Tag Industry News News By Location Country(s) Industry News
Follow on Google News | Reliance Trading Co. Limited – US Markets – Earnings Reports Continue – CAT, MSFT and TSLAEarnings season continues to rage on with industrial heavyweights Caterpillar and Boeing reporting quarterly results ahead of the opening bell, and tech behemoth Microsoft and electric carmaker Tesla rounding things out after the close Wednesday.
By: Reliance Trading Co. Limited Meanwhile, Microsoft and Tesla will garner attention when they report financial results after the market close. Analysts are expecting another quarter of strong cloud demand when Microsoft reports fiscal first-quarter results. Growth in its core offering, Azure, is expected to fuel Microsoft's Intelligent Cloud segment, though there could be a bit of deceleration. Microsoft and Apple have been neck and neck when it comes to being the world's most valuable company. Both tech giants have a market cap over the key $1 trillion level. Shares of the tech behemoth have been on a tear and rose 35% this year. Microsoft is expected to report adjusted earnings of $1.24 per share on $32.22 billion in revenue during its fiscal first quarter. The options market is implying a 4.3% move in either direction on its report. Electric carmaker Tesla is expected to report an adjusted earnings loss of 24 cents per share on $6.45 billion in revenue during its third quarter. Tesla recently reported 97,000 vehicle deliveries in its third quarter and missed expectations for 100,000 deliveries. Analysts expect that there could be two reasons for the weak deliveries. First, Tesla could be facing a supply constraint due to having a single plant or just a lack of overall demand for vehicles. In addition, Tesla's planned expansion oversees could potentially face hurdles due to the ongoing trade war. The company has seen declining revenue per unit, and those issues are expected to have continued during the third quarter. Other notable earnings reports scheduled for Wednesday include Anthem, Eli Lilly, Vertex Pharma, Thermo Fisher, Freeport-McMoran, Waste Management before market open; Ford, O'Reilly, eBay, Xilinx, PayPal, Las Vegas Sands after market close. Visit www.reliancetradingco.com to view our products and services, or contact us at info@reliancetradingco.com to discuss your wealth management future. End
Account Phone Number Disclaimer Report Abuse
|
|