It’s the busiest week of first-quarter earnings season. A whopping 165 S&P 500 companies are scheduled to report their results for the first three months of 2022.
Big tech giants will be among the headliners: Alphabet and Microsoft report on Tuesday, Meta Platforms on Wednesday, and Amazon.com and Apple on Thursday.
Monday’s highlights will include Coca-Cola and Activision Blizzard,
followed by General Electric,
United Parcel Service,
3M, Chipotle Mexican Grill,
and Warner Bros. Discovery all on Tuesday. Wednesday will bring results from Boeing,
and T-Mobile US,
and McDonald’s report on Thursday, then Chevron and Exxon Mobil close the week on Friday.
Notable economic data out this week includes Tuesday’s Consumer Confidence Index for April from the Conference Board and the Bureau of Economic Analysis’ advance estimate for first-quarter gross domestic product on Thursday. The latter is expected to come in around 1.7%, versus the 6.9% pace of economic expansion seen in the fourth quarter.
On Friday, the BEA reports personal income and expenditures for March. Income is seen rising 0.4% month over month while spending is seen increasing 0.6%.
Activision Blizzard, Ameriprise Financial, Coca-Cola, Cadence Design Systems, and SBA Communications report quarterly results.
More than a third of S&P 500 companies report earnings this week, led by Big Tech. Alphabet and Microsoft release results on Tuesday, Meta Platforms on Wednesday, and Amazon.com and Apple on Thursday.
Capital One Financial,
Chipotle Mexican Grill, Chubb,
Ecolab, General Electric, General Motors, Mondelez International,
MSCI, PepsiCo, Raytheon Technologies,
United Parcel Service, Visa, and Waste Management announce earnings.
The Conference Board releases its Consumer Confidence Index for April. Consensus estimate is for a 108 reading, about one point more than the March figure.
The Census Bureau releases the durable goods report for March. Economists forecast new orders for durable manufactured goods to rise 1% month over month to $274 billion.
The Census Bureau reports residential-sales statistics for March. Expectations are for a seasonally adjusted annual rate of 767,500 new single-family homes sold, roughly even with February’s data.
American Tower, Amgen,
Automatic Data Processing,
Boeing, CME Group,
Ford Motor, General Dynamics,
Hess, Kraft Heinz, Norfolk Southern,
Old Dominion Freight Line,
PayPal Holdings, Qualcomm, ServiceNow,
and T-Mobile US release quarterly results.
Caterpillar, Comcast, Eli Lilly,
Intel, Hershey, International Paper, Mastercard, McDonald’s, Merck, Northrop Grumman,
Thermo Fisher Scientific,
and Twitter hold conference calls to discuss earnings.
The Bureau of Economics Analysis releases the advance estimate for first-quarter gross domestic product. Consensus estimate is for a 1.7% seasonally adjusted annual growth rate, a sharp deceleration from the fourth quarter’s 6.9%.
Bristol Myers Squibb,
Cboe Global Markets,
Exxon Mobil, Honeywell International, and Weyerhaeuser report quarterly results.
The Institute for Supply Management releases its Chicago Purchasing Managers’ Index for April. Economists forecast a 62.2 reading, slightly lower than March’s 62.8 figure.
The BEA reports personal income and expenditures for March. Income is expected to rise 0.4% month over month while spending is seen increasing 0.6%. This compares with rises of 0.5% and 0.2%, respectively, in February.
Write to Nicholas Jasinski at [email protected]
Credit: www.marketwatch.com /