We’re previous the midway mark of the June quarter reporting season, going by the variety of S&P 500 corporations which have reported their earnings.
Q2 Reporting Season Thus Far: About 56% of S&P 500 corporations have launched their monetary outcomes, with 73% reporting earnings beats and 66% income beats, FactSet mentioned in its weekly Earnings Perception report. The second-quarter blended earnings progress charge for S&P 500 corporations is 6%, the bottom for the reason that 4% progress for the fourth quarter of 2020, the agency mentioned.
Among the many high-profile beats of the previous week had been Apple, Inc. AAPL and Amazon, Inc. AMZN. Alternatively, Meta Platforms, Inc. META and Intel Company INTC turned in disappointing outcomes.
One other Busy Week Forward: The unfolding week will see earnings releases from 152 S&P 500 corporations, together with 2 Dow parts, Factset mentioned. Notable corporations scheduled for the week are:
Caterpillar, Inc. CAT
Earnings Schedule: Tuesday, earlier than the market open
EPS Estimate: $3.01 Vs. $2.06 a 12 months in the past
Income Estimate: $14.35 billion Vs. $12.89 billion a 12 months in the past
Caterpillar warned in April that the COVID lockdowns in China could damage its June quarter outcomes as a consequence of weak mining demand within the nation. Sturdy efficiency elsewhere may assist offset this negativity
PayPal, Inc. PYPL
Earnings Schedule: Tuesday, earlier than the market open
EPS Estimate: $0.86 Vs. $1.15 a 12 months in the past
Income Estimate: $6.78 billion Vs. $12.89 billion a 12 months in the past
PayPal has seen its shares pull again sharply amid the tech downturn, as its former guardian eBay continues to maneuver fee processing away from its platform. The corporate can be dealing with stress from shoppers taking to offline purchases submit the pandemic.
Superior Micro Gadgets, Inc. AMD
Earnings Schedule: Tuesday, after the shut
EPS Estimate: $1.03 Vs. $0.63 a 12 months in the past
Income Estimate: $6.53 billion Vs. $3.85 billion a 12 months in the past
After peer Intel’s underwhelming second-quarter report final week, traders are more likely to be eager to take a look at AMD’s outcomes to see whether or not the weak spot is across-the-board or company-specific.
Rosenblatt’s Hans Mosesmann expects AMD to beat estimates, due to sturdy share beneficial properties in CPUs and GPUs. The concentrate on the earnings name will seemingly be on commentary on next-generation CPU Zen 4-based Ryzen 7000 and EPYC 4, next-generation RDNA/CDNA GPU roadmaps, and early synergies that Xilinx FPGAs deliver to broader finish markets comparable to communications, knowledge heart, automotive, and industrial, he added.
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Starbucks Company SBUX
Earnings Schedule: Tuesday, after the shut
EPS Estimate: $0.75 Vs. $1.01 a 12 months in the past
Income Estimate: $8.1 billion Vs. $8.65 billion a 12 months in the past
The espresso chain retailer had a disappointing first quarter as larger prices ate into earnings. The corporate additionally minimize its earnings forecast for the total 12 months. The second-quarter outcomes may take a success from the COVID lockdowns in China, its second-biggest market.
Uber Applied sciences, Inc. UBER
Earnings Schedule: Tuesday, after the shut
EPS Estimate: (-$0.26) Vs. $0.58 a 12 months in the past
Income Estimate: $7.39 billion Vs. $3.9 billion a 12 months in the past
Needham analysts famous that the corporate has been outperforming peer Lyft, Inc. LYFT within the wait interval and subsequently see scope for share beneficial properties. The analysts count on the corporate to information to a sequential enhance in third-quarter mobility and supply bookings.
CVS Well being Corp. CVS
Earnings Schedule: Wednesday, earlier than the market open
EPS Estimate: $2.17 Vs. $2.42 a 12 months in the past
Income Estimate: $76.37 billion Vs. $72.62 billion a 12 months in the past
CVS, a drug-store chain and medical insurance firm, reported better-than-expected outcomes for the primary quarter and raised its steering for the 12 months.
Moderna, Inc. MRNA
Earnings Schedule: Wednesday, earlier than the market open
EPS Estimate: $4.55 Vs. $6.46 a 12 months in the past
Income Estimate: $4.07 billion Vs. $4.35 billion a 12 months in the past
COVID vaccine producer Moderna will probably be up in opposition to a harder comparability with the year-ago interval, which noticed a spike in vaccine gross sales. With the pandemic abating and competitors from efficient COVID remedies intensifying, the corporate must diversify its income base sooner or later to ship constantly.
eBay, Inc. EBAY
Earnings Schedule: Wednesday, after the shut
EPS Estimate: $0.89 Vs. $0.99 a 12 months in the past
Income Estimate: $2.37 billion Vs. $3 billion a 12 months in the past
Credit score Suisse analyst Stephen Ju minimize the worth goal for eBay shares from $62 to $59 forward of the outcomes, citing lower-than-expected gross merchandise quantity outlook, marking-to-market of fairness stakes, and foreign exchange influence. The analyst expects a ten% adverse influence because of the forex impact.
Paramount World PARA
Earnings Schedule: Thursday, earlier than the market open
EPS Estimate: $0.57 Vs. $0.97 a 12 months in the past
Income Estimate: $7.52 billion Vs. $6.56 billion a 12 months in the past
Tender advert income and subscriber losses may have impacted the media conglomerate’s quarterly efficiency. Nevertheless, success with theatrical releases comparable to “High Gun: Maverick” ought to mitigate a few of the weaknesses.
Alibaba Group Holding, Inc. BABA
Earnings Schedule: Thursday, earlier than the market open
EPS Estimate: $1.52 Vs. $2.57 a 12 months in the past
Income Estimate: $30.05 billion Vs. $32.27 billion a 12 months in the past
Alibaba’s inventory turned the nook not too long ago amid hopes that the Chinese language regulatory clampdown may ease. The corporate is broadly anticipated to see income and earnings per share declines for the quarter, damage by the COVID breakout in China through the quarter.
The SPDR S&P 500 ETF Belief SPY closed Friday’s session 1.46% larger at $411.99, in response to Benzinga Professional knowledge.
Photograph: Courtesy of RosieTulips on flickr
