Two members of the US 'magnificent seven', Tesla and Netflix, are the headliners this week as earnings season kicks into high gear.
Monday, October 16
Charles Schwab (NYSE:SCHW) (Charles Schwab (NYSE:SCHW)) is expected to post lower revenue and a decline in earnings when it reports third-quarter earnings before the opening bell.
Net income and deposits are expected to have continued to come under pressure, the same as in the second quarter, which it attributed at the time to significant near-term headwinds ...read the preview.
Meanwhile, Philadelphia Fed President Patrick Harker is scheduled to speak.
Tuesday, October 17
Goldman Sachs (NYSE:GS) is expected to report another big decline in earnings when it releases its third-quarter results after the market close.
The bank has been affected by a decline in corporate activity, which has whittled away at the fees it earns from investment banking ...read the preview.
Johnson & Johnson (NYSE:JNJ) is slated to report earnings before the market opens in what will be the company’s first report since spinning off its consumer health division, Kenvue.
For its third quarter, J&J is expected to post revenue of $21.04 billion and earnings of $2.51 per share, compared to revenue of $23.79 billion and earnings of $1.68 per share a year earlier ...read the preview.
United Airlines Holdings Inc (NASDAQ:UAL) has been affected by rising jet fuel prices, leading to an increase to its third-quarter fuel price outlook in September.
The air carrier now expects fuel costs of $2.95 to $3.05 a gallon for the three months to September 30, 2023, up from previous guidance of $2.50 to $2.80 a gallon ...read the preview.
Others due to report:
Earnings: Bank of America, Lockheed Martin (NYSE:LMT), Hasbro (NASDAQ:HAS), Interactive Brokers, Bank of New York Melton, Prologis
Economic announcements: Retail sales, Industrial production, Home builder confidence
Wednesday, October 18
As Tesla Inc (NASDAQ:TSLA) reports its third-quarter results, investors will be hoping for better news than they got earlier this month when the electric vehicle (EV) maker published its production and delivery numbers ...read the preview.
Netflix Inc (NASDAQ:NFLX) is expected to report growth on both the top and bottom lines when it hands down its third-quarter financial results ...read the preview.
Others due to report:
Earnings: Morgan Stanley (NYSE:MS), Proctor & Gamble Co, Abbott Labs, Equifax (NYSE:EFX), Alcoa (NYSE:AA)
Economic announcements: MBA mortgage applications, Building permits, Housing starts, Crude oil inventories
Thursday, October 19
AT&T and Philip Morris International Inc (NYSE:PM) lead another busy day of earnings reports, while investors will also be watching for initial jobless claims.
Others due to report:
Earnings: Blackstone, Taiwan Semiconductor Manufacturing, Intuitive Surgical
Economic announcements: Continuing jobless claims, Existing home sales, Philadelphia Fed Index
Friday, October 20
American Express closes out the earnings week, and Cleveland Fed President Loretta Mester is expected to speak.
Others due to report:
Earnings: Schlumberger NV