pwshub.com

Stock market news today: US futures waver amid earnings flood, with Big Tech on deck

1 month ago

  • Quick take: Coca-Cola

    Similar to my prior post comparing FedEx (FDX) to UPS (UPS), you have to do the same thing always with Coca-Cola (KO) and PepsiCo (PEP).

    Coca-Cola easily wins the battle of the second quarters. The two things that stood to me from the results this morning were a 15% organic sales increase and a nice pop in operating margins year-over-year. PepsiCo pretty much delivered the opposite.

    Coke also lifted guidance, PepsiCo no go.

  • Tue, July 23, 2024 at 11:30 AM GMT+1

    Quick take: GM's earnings

    In what is becoming a recurring theme dating back to the middle of last year, General Motors (GM) once again hiked its annual profit forecast after a sizable quarterly beat.

    GM sees full-year adjusted earnings of $9.50 to $10.50 a share. Previously, it had modeled for $9.00 to $10 a share. The company beat second quarter earnings estimates by 31 cents.

    For the year, it reiterated a recently lowered goal of producing 200,000 to 250,000 EVs.

    I am talking to GM CFO Paul Jacobson around 8am ET today. Keep an eye out for that interview airing in the 9am ET live on Yahoo Finance.

    All in all, GM continues to regain its cred with investors.

  • Tue, July 23, 2024 at 11:26 AM GMT+1

    Another tough quarter for UPS

    The sentiment around FedEx (FDX) and UPS (UPS) has really shifted, with the former seen as a solid play on tons of cost-cutting while the latter is out of favor because of bad quarters.

    To that end, Another tough quarter for UPS this morning. I don't think the full year operating margin cut is going to be well-received by investors.

    • Source: finance.yahoo.com

    Related stories
    1 month ago - A marquee earnings day brings Big Tech results, in focus as investors assess the future of this year's rally.
    1 month ago - The rouble weakened to its lowest level since late May after Kyiv launched its biggest incursion into Russian territory since the start of the war in 2022.
    5 days ago - Investors are gearing up for a consumer inflation print seen as crucial to determining the size of the first US interest-rate cut in years.
    1 month ago - Microsoft shares have fallen heavily as the software giant reported disappointing results that deepened investors’ fears about the artificial intelligence boom.
    1 week ago - Volkswagen is considering closing factories in Germany for the first time in its 87-year history as the carmaker battles to cut costs and survive the transition to electric cars.
    Other stories
    13 minutes ago - Trump Media's lockup period ends soon, allowing Donald Trump to sell his shares if he chooses. He'd potentially earn billions in the sell-off.
    13 minutes ago - Morgan Stanley cut its price target for Micron Technology and warned about the future of the memory chip sector.
    13 minutes ago - Red Lobster, known for its affordable seafood and cheddary biscuits, has exited Chapter 11 bankruptcy protection. A U.S. bankruptcy judge approved the casual seafood chain’s reorganization plan earlier this month, which included a lender...
    14 minutes ago - (Reuters) -Amazon.com will require employees to return to working at company offices five days per week beginning next year, toughening a prior three-day mandate. The change is necessary to "invent, collaborate and be connected" wrote...
    14 minutes ago - Home insurance is becoming more expensive and difficult to purchase nationwide, and now homeowners have a new concern: drone flights. As the cost of providing coverage continues to rise, insurers are taking more steps to limit their...