Amazon, McDonald’s, Microsoft earnings and debt limit battle top week ahead
Amazon, Google and Meta's Facebook are on the earnings docket this week
Bond investors on high alert with debt ceiling deadline looming
Barron’s markets editor Ben Levisohn says the U.S. is ‘running out of time’ to pass legislation on the debt ceiling because the treasury could run out of money by June 15.
It will be another busy week for investors with a plethora of blue chip and big tech earnings on tap, as well as first quarter GDP and the ongoing battle over the nation's debt limit.
The stock market closed higher on Friday but ended the week with modest losses.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 42564 | +35.64 | +0.08% |
| SP500 | S&P 500 | 5916.48 | +7.45 | +0.13% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19493.214193 | +3.53 | +0.02% |
In Washington, House Speaker Kevin McCarthy, R-Calif., plans to bring the GOP debt limit bill to a vote this week heating up political tensions in a race to avoid default on America's debt.
Speaker Kevin McCarthy speaks at a news conference. (Anna Moneymaker/Getty Images / Getty Images)
FOX Business breaks down other events likely to move financial markets in the coming days.
Monday, April 24
On Monday Disney will conduct its second round of job cuts, with a third already on the horizon. Its ESPN unit will also be conducting cuts in talent and management.
Disney CEO Bob Iger (Rich Fury/Getty Images / Getty Images)
The cost-cutting comes after CEO Bob Iger returned to the helm after the dismissal of Bob Chapek.
Disney
Monday will also see public comments close for the Federal Trade Commission's Guide for the Use of Environmental Marketing Claims. The FTC has been looking for input on what marketing claims companies can make about their products and what defines compostable, degradable and other terms companies use to market their products.
In earnings, Coca-Cola and First Republic Bank will report before the opening bell. The regional bank has been hard hit after the collapse of Silicon Valley Bank, and the results will provide a fresh update on its stability.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KO | THE COCA-COLA CO. | 61.31 | +0.47 | +0.76% |
| FRC | NO DATA AVAILABLE | - | - | - |
Earnings after the bell will include Ameriprise Financial and Whirlpool.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMP | AMERIPRISE FINANCIAL INC. | 534.37 | +5.55 | +1.05% |
| WHR | WHIRLPOOL CORP. | 112.12 | -1.47 | -1.29% |
Economic data will include the Chicago Fed national activity index and the Dallas Fed manufacturing business index; both are forecast to show a further decline.
Tuesday, April 25
On Tuesday, Japan’s ispace will attempt to be the first private company to land on the moon.
SPACEX REVEALS WHY STARSHIP EXPLODED MINUTES INTO LAUNCH
Earnings before markets open will include General Electric, General Motors, JetBlue, McDonald’s, Raytheon Technologies, UPS and Verizon.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GE | GE AEROSPACE | 172.86 | +0.53 | +0.31% |
| GM | GENERAL MOTORS CO. | 50.77 | -1.21 | -2.32% |
| JBLU | JETBLUE AIRWAYS CORP. | 7.47 | +0.07 | +0.99% |
| MCD | MCDONALD'S CORP. | 287.89 | -1.36 | -0.47% |
| RTX | RTX CORP. | 115.62 | +0.82 | +0.71% |
| UPS | UNITED PARCEL SERVICE INC. | 125.61 | +0.61 | +0.49% |
| VZ | VERIZON COMMUNICATIONS INC. | 38.66 | -0.28 | -0.72% |
After the bell Google parent company Alphabet, Boston Properties, Chipotle Mexican Grill, Microsoft, Texas Instruments and Visa will report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 195.42 | -0.07 | -0.04% |
| BXP | BXP INC. | 70.35 | +0.01 | +0.02% |
| CMG | CHIPOTLE MEXICAN GRILL INC. | 58.09 | +0.10 | +0.18% |
| MSFT | MICROSOFT CORP. | 424.83 | +2.46 | +0.58% |
| TXN | TEXAS INSTRUMENTS INCORPORATED | 192.21 | -0.01 | -0.00% |
| V | VISA INC. | 313.12 | +1.41 | +0.45% |
It will also be a busy day for economic data, including, building permits (revised), the FHFA monthly home price index, the Case-Shiller home price index, consumer confidence, and new home sales.
Revised building permit data and the FHFA monthly home price index expected this week. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
In San Francisco, the arraignment for the suspect who allegedly murdered Cash App founder Bob Lee will take place.
Cash App CEO Bob Lee (Linkedin / Fox News)
Wednesday, April 26
The National Artificial Intelligence Advisory Committee (NAIAC), which was established in 2020 to advise the president on AI, will release its first report and recommendations today.
Read FOX Business' comprehensive reporting on artificial intelligence here.
Earnings before markets open include Boeing, General Dynamics, Hilton Worldwide Holdings, Norfolk Southern, and potentially embattled Bed Bath & Beyond.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 172.86 | +0.31 | +0.18% |
| GD | GENERAL DYNAMICS CORP. | 261.44 | +1.81 | +0.70% |
| HLT | HILTON WORLDWIDE HOLDINGS INC. | 244.21 | +2.87 | +1.19% |
| NSC | NORFOLK SOUTHERN CORP. | 236.89 | -0.77 | -0.32% |
| BBBY | NO DATA AVAILABLE | - | - | - |
After the bell, eBay, Mattel, Facebook's Meta and Spirit Airlines report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| EBAY | EBAY INC. | 70.02 | +6.85 | +10.84% |
| MAT | MATTEL INC. | 18.36 | +0.10 | +0.58% |
| META | META PLATFORMS INC. | 611.61 | -6.28 | -1.02% |
| SAVE | NO DATA AVAILABLE | - | - | - |
Wednesday's economic data will include MBA Mortgage applications, durable goods and EIA weekly crude stocks.
Thursday, April 27
Pfizer, which accounted for almost a quarter of biopharma industry spending in 2022, will host their annual meeting on Thursday. The company has offered to buy cancer drugmaker Seagen for $45 billion, which is the biggest industry buyout since the AbbVie and Allergan deal in 2019. Analysts say the Seagen deal will likely face regulator scrutiny.
Pfizer
Thursday's investors will keep their finger on the pulse of the hearing about AMC’s plan to dilute its shares through preferred equity (APE shares). The case has been brought by common stockholders.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT | 3.98 | -0.09 | -2.28% |
| APE | NO DATA AVAILABLE | - | - | - |
Earnings in the morning will include American Airlines, Caterpillar, MasterCard, Merck, Northrop Grumman and Southwest Airlines.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAL | AMERICAN AIRLINES GROUP INC. | 17.23 | -0.46 | -2.57% |
| CAT | CATERPILLAR INC. | 359.23 | -3.77 | -1.04% |
| MA | MASTERCARD INC. | 516.91 | +5.52 | +1.08% |
| MRK | MERCK & CO. INC. | 99.54 | -1.50 | -1.48% |
| NOC | NORTHROP GRUMMAN CORP. | 464.02 | +11.63 | +2.57% |
| LUV | SOUTHWEST AIRLINES CO. | 32.58 | -0.30 | -0.93% |
After the bell Activision Blizzard, Amazon, Intel, L3Harris Technologies, Snap and T-Mobile US will report.
MICROSOFT-ACTIVISION DEAL HITS NEW STUMBLING BLOCK
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ATVI | NO DATA AVAILABLE | - | - | - |
| AMZN | AMAZON.COM INC. | 222.28 | +0.17 | +0.08% |
| INTC | INTEL CORP. | 19.91 | -0.10 | -0.52% |
| LHX | L3HARRIS TECHNOLOGIES INC. | 206.81 | +3.74 | +1.84% |
| SNAP | SNAP INC. | 12.57 | +0.03 | +0.20% |
| TMUS | T-MOBILE US INC. | 214.50 | +2.17 | +1.02% |
Thursday's economic data will include an advance read of first quarter GDP, which is expected to show the U.S. economy grew 2%, a drop from the 4Q's 2.6% rise.
Gross Domestic Product (U.S. Bureau of Economic Analysis )
Also, weekly initial jobless claims, NAR pending home sales and the Kansas City Fed's manufacturing index will be released.
Friday, April 28
JetBlue will make a second prepayment to Spirit Airlines shareholders of $0.10 per share despite the ongoing lawsuit by the Department of Justice which aims to block the transaction, saying the deal could reduce competition, causing higher ticket prices.
A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on April 25, 2022. (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty Images / Getty Images)
Earnings on Friday morning will include Outback Steakhouse's parent company Bloomin’ Brands, Charter Communications, Chevron, Colgate-Palmolive and Exxon Mobil.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BLMN | BLOOMIN' BRANDS INC. | 11.69 | -0.18 | -1.52% |
| CHTR | CHARTER COMMUNICATIONS INC. | 345.34 | -2.29 | -0.66% |
| CVX | CHEVRON CORP. | 150.44 | +0.85 | +0.57% |
| CL | COLGATE-PALMOLIVE CO. | 87.44 | +0.05 | +0.06% |
| XOM | EXXON MOBIL CORP. | 107.50 | -1.27 | -1.17% |
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Economic data rounding out the week will include personal income, personal consumption, ECI employment wages, the Chicago PMI, the University of Michigan's consumer sentiment index (final), and the Dallas Fed's PCE.
Jessica MacKenzie contributed to this story.
