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Big Week Ahead for Q1, Economic Data; KO Beats, ATVI Misses
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Monday, April 25, 2022
We are about to embark on the busiest week of Q1 earnings season yet, with some of the top household names — Microsoft (MSFT - Free Report) , Meta (nee Facebook) and Amazon (AMZN - Free Report) , among hundreds of others. We also expect to see a big load of economic data this week, which will help inform the Fed when it meets on monetary policy next week.
Among the more important metrics we’ll see updated are: Durable Goods Orders, Advance Trade in Goods, Case-Shiller Home Prices, New & Pending Home Sales, the PCE Price Index, Consumer Confidence, University of Michigan Consumer Sentiment, Weekly Jobless Claims and the first read on Q1 GDP. That’s a lot of grist for the mill, and may offer some hope that better-than-expected headlines might help market sentiment break a weeks-long losing streak on the major indices.
The Dow on Friday notched its single-worst day since October 2020, falling nearly 1000 points, or more than -2.8%. The blue-chip index is taking a four-week losing streak into the present week of trading; the S&P 500 and the Nasdaq are down three straight weeks. Off early morning lows, we’re seeing the Dow -158 points at this hour, -60 points on the Nasdaq and -22 points for the S&P 500.
Already this morning, Coca-Cola (KO - Free Report) has reported results for its Q1, with beats on both top and bottom lines: earnings of 64 cents per share versus 58 cents in the Zacks consensus came along with $10.49 billion in quarterly revenues, for a positive surprise of +5.84%. Shares are up +2.4% in pre-market trading; the stock has already gained +10% year to date. Coke has not missed on earnings estimates in five years. For more on KO’s earnings, click here.
Activision Blizzard , on the other hand, disappointed investors on big write-downs related to the pending acquisition by Microsoft: earnings of 38 cents per share was barely half what was expected, and down from the year-ago quarter’s 84 cents per share reported. Revenues reached $1.48 billion for the quarter, for a negative surprise of -17.73%. “Call of Duty” numbers were weak in the quarter, accounting for much ofd the miss not explained by the fees associated with the absorption to Microsoft. Questions or comments about this article and/or its author? Click here>>
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Big Week Ahead for Q1, Economic Data; KO Beats, ATVI Misses
Monday, April 25, 2022
We are about to embark on the busiest week of Q1 earnings season yet, with some of the top household names — Microsoft (MSFT - Free Report) , Meta (nee Facebook) and Amazon (AMZN - Free Report) , among hundreds of others. We also expect to see a big load of economic data this week, which will help inform the Fed when it meets on monetary policy next week.
Among the more important metrics we’ll see updated are: Durable Goods Orders, Advance Trade in Goods, Case-Shiller Home Prices, New & Pending Home Sales, the PCE Price Index, Consumer Confidence, University of Michigan Consumer Sentiment, Weekly Jobless Claims and the first read on Q1 GDP. That’s a lot of grist for the mill, and may offer some hope that better-than-expected headlines might help market sentiment break a weeks-long losing streak on the major indices.
The Dow on Friday notched its single-worst day since October 2020, falling nearly 1000 points, or more than -2.8%. The blue-chip index is taking a four-week losing streak into the present week of trading; the S&P 500 and the Nasdaq are down three straight weeks. Off early morning lows, we’re seeing the Dow -158 points at this hour, -60 points on the Nasdaq and -22 points for the S&P 500.
Already this morning, Coca-Cola (KO - Free Report) has reported results for its Q1, with beats on both top and bottom lines: earnings of 64 cents per share versus 58 cents in the Zacks consensus came along with $10.49 billion in quarterly revenues, for a positive surprise of +5.84%. Shares are up +2.4% in pre-market trading; the stock has already gained +10% year to date. Coke has not missed on earnings estimates in five years. For more on KO’s earnings, click here.
Activision Blizzard , on the other hand, disappointed investors on big write-downs related to the pending acquisition by Microsoft: earnings of 38 cents per share was barely half what was expected, and down from the year-ago quarter’s 84 cents per share reported. Revenues reached $1.48 billion for the quarter, for a negative surprise of -17.73%. “Call of Duty” numbers were weak in the quarter, accounting for much ofd the miss not explained by the fees associated with the absorption to Microsoft.
Questions or comments about this article and/or its author? Click here>>