Verizon, American Express, Twitter Earnings: 3 Things to Watch
2022.07.21 23:14
By Liz Moyer
Investing.com — Stocks wobbled on Thursday, but tech was working hard to lift the indexes into the green for the close after Tesla’s (NASDAQ:TSLA) earnings beat late Wednesday.
More earnings are rolling out tomorrow and next week, including Twitter, Snap (NYSE:SNAP) and Amazon.com (NASDAQ:AMZN).
Companies have been beating expectations so far, but their outlooks seem cloudy as they continue to report rising costs and the possibility of an economic slowdown affecting operations later this year.
Airlines such as United (NASDAQ:UAL) and American (NASDAQ:AAL) both reported profitable quarters but warned they would curtail capacity despite booming travel demand because of ongoing issues in the air travel system.
The Federal Reserve is set to meet next week to make its next move on interest rates, and most still think it will raise its benchmark rate another 0.75 percentage point. One surprise was Thursday’s half-point rate increase by the European Central Bank, which had only been expected to move higher a quarter-point. Still, the EU is also dealing with rising inflation.
Here are three things that could affect markets tomorrow:
1. Verizon earnings
Verizon Communications Inc (NYSE:VZ) is expected to report earnings per share of $1.33 on revenue of $33.7 billion. Analysts will be listening to what it says about consumer behavior after rival AT&T (NYSE:T) said Thursday it noticed people were paying their bills slightly later than before.
2. American Express
American Express Company (NYSE:AXP) is expected to report earnings of $2.41 per share on revenue of $12.5 billion.
3. Twitter earnings
Twitter Inc (NYSE:TWTR) is seen reporting earnings of 15 cents a share on revenue of $1.33 billion.
