Tesla and a handful of other stocks got moving on earnings news Tuesday.
“It was another mixed quarter, solid on gross margin but weakish on , both propped up by ZEV and Bitcoin,” says David Wagner, portfolio manager at Aptus Capital Advisors.
While the market has been quiet these past few weeks, we’re expecting bigger moves than the marketplace is implying after earnings, especially in tech stocks.
The company reported stronger-than-anticipated earnings and revenue in its fiscal Q2, while sales of its Azure cloud computing product swelled 50%.
Just remember: Earnings season isn’t just about earnings – for many of us, it’s about dividends, too.
For instance, Wells Fargo analyst Aaron Rakers recently predicted that Apple, which is among Wednesday evening’s reports, will offer up a double-digit dividend upgrade.
Joining me today are Carol Tome, our CEO, and Brian Newman, our CFO.
Microsoft Corp.’s stock pulled back 2.6%, even after the software behemoth’s fiscal third-quarter results beat expectations, with the implied price drop shaving about 45 points off the Dow.
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3M said it expects a raw materials and logistics charge of between 30 cents and 50 cents per share in 2021, compared with a prior forecast of flat to a 10 cent hit.
A surge in shares of Alphabet following strong earnings drove the S&P 500 to a record high and bolstered the Nasdaq index, while investors hoped that the Federal Reserve would stick to its promise of keeping monetary policy loose.
It warns in the draft that it could cancel government contracts granted to firms that gain an unfair advantage from such subsidies.European officials are seeking the power to inspect companies’ offices outside of Europe, with the permission of the company and the knowledge of the foreign state, according to the draft.Regulators suggest ways that companies could allay concerns over subsidies, including granting rivals access to infrastructure, licensing on fair terms or publishing research.
Spot gold was down 0.6% to $1,765.85 per ounce by 1106 GMT, after dipping to its lowest since April 20 at $1,762.50.
Investors will be scrutinizing the Federal Reserve’s comments at the close of its policy meeting this week, which will come on Wednesday, for insight into the central bank’s thinking on inflation, bond purchases and risks to the financial system posed by soaring asset prices.
The measures highlight an increased focus on servicing the domestic market and come as the country’s steel mills grapple with raw material costs that have surged to historic highs.China churns out half the world’s steel, and is the biggest exporter, but has vowed to reduce output in 2021 as part of a drive to contain carbon emissions from one of its dirtiest industries.