AT&T, Philip Morris, Union Pacific Earnings: 3 Things to Watch
2022.07.20 23:09
By Liz Moyer
Investing.com — Stocks hitched a ride on the tech rebound on Wednesday as earnings continued to roll out.
Netflix (NASDAQ:NFLX) set a positive tone later on Tuesday after reporting it lost fewer subscribers in the quarter than it expected. More big tech earnings are expected later, including Twitter (NYSE:TWTR) and, next week, Apple (NASDAQ:AAPL).
Google parent Alphabet (NASDAQ:GOOGL) is reported to be pausing hiring for two weeks after saying last week it would slow hiring, the latest big tech company to take a more cautious approach amid economic uncertainty.
The Federal Reserve could put some of that uncertainty to rest next week after it meets to decide its next step on interest rates. Most expect it will raise rates another 0.75 percentage point as it seeks to tame inflation. The European Central Bank is also expected to act this week on rates.
Investors will have plenty of corporate earnings to digest in the meantime. Here are three things that could affect markets tomorrow:
1. AT&T earnings
AT&T Inc (NYSE:T) is expected to report earnings of 61 cents a share on revenue of $29.5 billion.
2. Philip Morris earnings
Philip Morris International Inc (NYSE:PM) is expected to report earnings per share of $1.25 on revenue of $6.66 billion.
3. Union Pacific earnings
Railroad Union Pacific Corporation (NYSE:UNP) is expected to report EPS of $2.87 on revenue of $6.15 billion.
