Good morning contrarians! Another day of gains yesterday was followed with Google (
$GOOG) beating earnings estimates and announcing a 20-for-1 stock split. AMD (
$AMD.X) also beat estimates and issued a strong sales outlook for the year. Those stocks rallied big time overnight, both up over 10%.
On the losing side of last night’s earnings were Starbucks (SBUX) and PayPal (
$PYPL), the latter down 17%.
It’s another major day for earnings. It’s another major day for earnings. ThermoFisher Scientific (
$TMO), Boston Scientific (
$BSX), Humana (
$HUM), and Marathon Petroleum (
$MPC) have already reported. All but HUM beat on top- and bottom-line estimates and those stocks are moving higher in the pre-market. Later this morning we will hear from AbbVie (
$ABBV) and DR Horton (
$DHI).
After the close at 1600 we’ll get T-Mobile (
$TMUS), Qualcomm (
$QCOM), Meta Platforms, the company formerly known as Facebook ($FB), and Spotify (
$SPOT). MetLife (
$MET) and McKesson (
$MCK) also report at some point today.
What else we’re watching today: