Apple Earnings Grab Investors Attention
Video: Preview the day’s action on Wall Street before the opening bell with the Morning Report as Apple Earnings Grab Investors Attention. Dow, Nasdaq and S&P futures are flat. Crude is up .50% on the morning.
Wall Street on divided ground ahead of Apple earnings
Here are some Morning Headlines:
U.S. stock futures were mixed this morning ahead of after-the-bell earnings from Dow component Apple (AAPL), whose record Monday helped propel the Nasdaq to another all-time high, but failed to lift the Dow. (CNBC)
With Amazon (AMZN) and Alphabet (GOOGL) closing at record highs above $900, investors are wondering which stock may crack the $1000 per share level first. (CNBC)
Dow stocks Merck (MRK) and Pfizer (PFE) issued quarterly results this morning. Merck exceeded estimates on earnings and revenue. Pfizer beat on profit but missed on sales. Meanwhile, U.S. automakers release their April sales results today. (CNBC)
The Fed kicks off its two-day May policy meeting this morning. Most economists expect no change in interest rates this time around. But the market puts the chances of a June move at more than 67 percent. (CME)
North Korea is warning that American bomber flights in a joint drill with South Korea’s air force could push the Korean Peninsula to the brink of nuclear war. (Reuters)
Here is this week’s earnings calendar provided by Earnings Whispers as Apple Earnings Grab Investors Attention followed by earnings by the companies reporting earnings this morning.
Merck — The drugmaker reported adjusted quarterly profit of 88 cents per share for the first quarter, five cents a share above estimates. Revenue exceeded Street forecasts, boosted by surging demand for its cancer drug Keytruda, and Merck also raised its full-year outlook. (CNBC)
Pfizer — Pfizer earned an adjusted 69 cents per share for the first quarter, coming in two cents a share above estimates. The pharmaceutical company’s revenue fell short of analysts’ estimates, but its full-year outlook falls within the range of current Street forecasts. (CNBC)
CVS Health — The drugstore operator and pharmacy benefits manager beat estimates by seven cents a share, with adjusted quarterly profit of $1.17 per share. Revenue beat forecasts. Profit did drop from a year earlier on fewer filled prescriptions and lower front-end sales. (CNBC)
Altria — The tobacco products company fell a penny a share shy of estimates, with quarterly profit of 73 cents per share. Revenue also fell short of the Street’s outlook. Altria said its smokeable products segment did well, but there were negative effects from a voluntary smokeless product recall, as well as from its beer-related investments. (CNBC)
Information Credit: News headlines and quotes were taken from CNBC in the writing of this post.