Monday, July 22, 2019
Q2 earnings season really shifts into high gear this week. In fact, likely due to summer vacation months, Q2 is particularly front-loaded this quarter: last week was the first major influx of reports and next week will be the last of particularly heavy reporting. Afterward, we see a long tail, but of progressively less consequential stocks reporting over time.
Giant market players like Facebook (FB - Free Report) , Alphabet (GOOGL - Free Report) , Boeing (BA - Free Report) , Amazon (AMZN - Free Report) and Tesla (TSLA - Free Report) will be among those reporting this week. That said, today we start out on a rather lighter note.
Oilfield services major Halliburton (HAL - Free Report) outperformed estimates on its Q2 bottom line ahead of today’s opening bell, with 35 cents per share coming in a nickel ahead of expectations. Revenues of $5.93 billion slightly lagged the Zacks consensus, by 0.62%. These figures pale, however, with what we saw a year ago from Halliburton: 58 cents per share on $6.15 billion in revenues.
As Q3 unfolds, we see tensions rising in the Strait of Hormuz, which is raising global oil prices both abroad and here at home. Whether this brings more positive earnings and sales results for Halliburton is perhaps a little early to determine, though it is something worth keeping an eye on. Halliburton has beaten earnings estimates in three of its last four quarters. For more on HAL’s earnings, click here.
After regular trading closes this afternoon, we expect to hear from Whirlpool (WHR - Free Report) , Logitech (LOGI - Free Report) and TD Ameritrade (AMTD - Free Report) , among others. Again, we’re starting off a tad slowly for a week so rife with earnings announcements, but by the end of the week, we will already be over the hump for the quarter.
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