RSS
Home
Heavy hitters set to report earnings this week
Print
Email
RSS
Subscribe
Earnings season always takes a week or so to really ramp up and the second quarter is no exception. Following the typically sluggish start, tech bellwether Intel (INTC) will report earnings after the closing bell on Tuesday and will likely provide a glimpse into what it sees happening through the remainder of the year.
Analysts are forecasting about a 75% drop in profits from last year's $0.28 per share , which is a much larger decline than many are expecting from the nation's top companies.
A bad quarter may already be priced into into shares. But analysts will be looking for signs that the worst is past as major trade groups linked to the industry have been reporting a pick up in sales.
In particular, data from the Semiconductor Industry Association have reflected a fairly brisk increase in sales from very depressed levels over the last couple of months. Meanwhile, remarks on Wednesday morning from chip-equipment giant ASML Holding (ASML) will also be of interest.
Nokia (NOK), the world's largest maker of cell phones, may see its quarterly earnings cut in half when the company reports on Thursday. The Finland-based company is always worth watching because it can set the tone for trading when major announcements are made.
This brings us to Friday, when IBM (IBM) and General Electric (GE) will report. IBM has not been immune from the downturn but has weathered the recession very well given its reliance on service-based revenues. And remarks from GE regarding its worldwide infrastructure business may shed some light regarding prospects for a revival in Asia.
Related Articles:
Add a Comment
