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Q4 earnings season keeps going full-throttle this week, with lots of household names reporting quarterly earnings. These include Big Tech firms like Amazon ((AMZN - Free Report) , Alphabet ((GOOGL - Free Report) , Alibaba ((BABA - Free Report) and Qualcomm ((QCOM - Free Report) , along with names across a wide variety of industries: Pfizer ((PFE - Free Report) , Chipotle ((CMG - Free Report) , Ford ((F - Free Report) , UPS ((UPS - Free Report) and T-Mobile ((TMUS - Free Report) . Assuming we get a break from talking about retail investors taking out the shorts, we may see a market more aligned with fundamentals this week.
We also get some new key reads this morning, though none until after the opening bell is rung: Manufacturing PMI and ISM Manufacturing, both for January; Construction Spending for December; and Motor Vehicle Sales (seasonally adjusted, annualized) for January. The latter segment of the pandemic has illustrated the ways Goods-producing enterprises has been outperforming Services; we shall see if this narrative holds today.
After the closing bell, we will see new earnings reports from Cirrus Logic ((CRUS - Free Report) and Vertex Pharma ((VRTX - Free Report) . The fabless semi supplier currently carries a Zacks Rank #3 (Hold), while the small-cell drug treatment specialist is listed as a Zacks Rank #2 (Buy).
ON Semiconductor ((ON - Free Report) posted strong Q4 earnings numbers ahead of this Monday’s open, putting up 35 cents per share which beat the Zacks consensus by a solid nickel. Revenues in the quarter came in at $1.45 billion, for a positive earnings surprise of 6.5%. The original equipment manufacturer (OEM) in the chip space — initally a spinoff off Motorola back in the late 90s — has gained 5.25% in today’s pre-market on the news, nearly doubling the stock’s gains year to date.
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Markets Await Economic and Earnings Data
Q4 earnings season keeps going full-throttle this week, with lots of household names reporting quarterly earnings. These include Big Tech firms like Amazon ((AMZN - Free Report) , Alphabet ((GOOGL - Free Report) , Alibaba ((BABA - Free Report) and Qualcomm ((QCOM - Free Report) , along with names across a wide variety of industries: Pfizer ((PFE - Free Report) , Chipotle ((CMG - Free Report) , Ford ((F - Free Report) , UPS ((UPS - Free Report) and T-Mobile ((TMUS - Free Report) . Assuming we get a break from talking about retail investors taking out the shorts, we may see a market more aligned with fundamentals this week.
We also get some new key reads this morning, though none until after the opening bell is rung: Manufacturing PMI and ISM Manufacturing, both for January; Construction Spending for December; and Motor Vehicle Sales (seasonally adjusted, annualized) for January. The latter segment of the pandemic has illustrated the ways Goods-producing enterprises has been outperforming Services; we shall see if this narrative holds today.
After the closing bell, we will see new earnings reports from Cirrus Logic ((CRUS - Free Report) and Vertex Pharma ((VRTX - Free Report) . The fabless semi supplier currently carries a Zacks Rank #3 (Hold), while the small-cell drug treatment specialist is listed as a Zacks Rank #2 (Buy).
ON Semiconductor ((ON - Free Report) posted strong Q4 earnings numbers ahead of this Monday’s open, putting up 35 cents per share which beat the Zacks consensus by a solid nickel. Revenues in the quarter came in at $1.45 billion, for a positive earnings surprise of 6.5%. The original equipment manufacturer (OEM) in the chip space — initally a spinoff off Motorola back in the late 90s — has gained 5.25% in today’s pre-market on the news, nearly doubling the stock’s gains year to date.