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Top earnings reports to watch this week

Investors will shift their attention this week to corporate earnings with some of the biggest U.S. companies reporting their earnings later the week. Global shares trading strong on Monday ahead to the release of major corporate earnings results.

Top earnings reports to watch this week

Investors will shift their attention this week to corporate earnings with some of the biggest U.S. companies reporting their earnings later the week. Global shares trading strong on Monday ahead to the release of major corporate earnings results.

Second Quarter earnings season kicks off with stronger -than – expected results from PepsiCo. On Monday, the drink and snack giant PepsiCo (NASDAQ: PEP) second-quarter earnings beat the Wall Street expectations. PepsiCo stock climbed 1.85% (+$2.49) on Monday and at the time of writing, the stock trading at $136.95 per share.

  • Earnings per share: $1.32 vs. $1.25 expected

  • Revenue: $15.95 billion vs. $15.38 billion expected

“Despite being faced with significant challenges and complexities because of the COVID-19 pandemic, our businesses performed relatively well during the quarter, with a notable level of resiliency in our global snacks and foods business” PepsiCo CEO, Ramon Laguarta said.

Here is the lineup of top earnings releases including JPMorgan, Citi, Goldman Sachs, Bank of America, and Netflix to look out for this week.

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Tuesday 14/07/20

  • JPMorgan Chase (NYSE: JPM) kicks off big bank earnings on Tuesday alongside Wells Fargo (NYSE: WFC) and Citigroup (NYSE: C).

  • The Delta Air Lines Inc. (NYSE: DAL) is expected to report its second-quarter results before regular trading begins on Tuesday.

Wednesday 15/07/20

  • The banking giants Goldman Sachs (NYSE: GS) and U.S. Bancorp (NYSE: USB) will release its second-quarter results on Wednesday before the bell.

  • UnitedHealth Group Inc. (NYSE: UNH) is expected to post its second-quarter results before the markets open on Wednesday.

Thursday 16/07/20

  • Bank of America (NYSE: BAC) and Morgan Stanley (NYSE: MS) is expected to reveal its second-quarter results on Thursday before the open.

  • Domino’s Pizza Inc. (NYSE: DPZ) and Johnson & Johnson (NYSE: JNJ) will report its second-quarter results before the markets open on Thursday.

  • Netflix is scheduled to report second-quarter 2020 results on Thursday after market close. Netflix’s stock surged 70% for the year to date through Friday’s close.

Friday 17/07/20

  • Blackrock (NYSE: BLK), the giant asset manager, is due to report its quarterly figures before the markets open on Friday. The $BLK stock surged 19.7% since the company last reported earnings on April 16.

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Zoom shares fell despite strong Q3 earnings

Zoom shares fell despite strong Q3 earnings

Zoom Video Communications (NASDAQ: ZM) reported better-than-expected third-quarter financial results on Monday. During the previous quarter, the company revenue surged by 355% and especially in the Middle East and Africa saw revenue growth of 629%.

Gap stock slips 20% after earnings miss estimates

Gap stock slips 20% after earnings miss estimates

The American clothing retailer Gap Inc (NYSE: GPS) announced third-quarter financial results after the market close on Tuesday. The company last quarter earnings came below the Wall Street expectations and the revenue for the quarter fell 0.2% to $3.99 billion from $4.00 billion last year, while it beat the estimates of $3.82 billion.