Calendar of earnings for the week of July 19
Despite strong trading and encouraging job market news, benchmark stock indexes retreated after making modest gains earlier in the week. Ahead of Friday’s open, the S&P 500 has lost about 25 points since midweek, while the Dow Jones Industrial Average has lost 165 points.
Professional services firm Accenture has engulfed another tech company – this time, Germany-based Google Cloud services store Wabion. In another tech deal, digital payments company Square bought the Crew messaging platform.
As part of expanding its hybrid cloud consulting services, IBM has agreed to acquire Bluetab Solutions Group for an undisclosed amount. Meanwhile, lead vaccine AstraZeneca has moved closer to closing its takeover of Alexion after the deal gained antitrust approval from European regulators.
The nation’s largest financial institutions released their quarterly results this week, announcing earnings season. Benefiting from the easing of COVID-related restrictions and the resulting improvement in consumer spending, the big banks saw increased profits despite declining performance.
On Tuesday, JPMorgan Chase and Goldman Sachs released their second quarter report and were joined by soft drink giant PepsiCo in the hours leading up to market.
The spotlight remained on bank profits Wednesday, when Bank of America, Citigroup and Wells Fargo. Other major Wall Street entities that reported midweek include investment manager BlackRock and Delta Air Lines.
Drugstore chain United Health Group posted mixed results for its final quarter, when positive revenue performance was more than offset by high costs. The other major events of the day were earnings announcements from Morgan Stanley and India-based software company Wipro. Charles Schwab Corporation reported double-digit profit growth on Friday morning.
When the market opens next week, all eyes would be on IBM, which is expected to release financial data on July 19 after the market closes. Major events scheduled for the next day include earnings announcements from aviation giant United Airlines Holdings, Halliburton Company, Chipotle Mexican Grill and video streaming platform Netflix.
On July 21, beverage giant Coca-Cola and chipmaker Verizon will report. Further airline profits will be announced on July 22, when American Airlines Group and Southwest Airlines are expected to report results.
The day will also see the release of financial figures by AT&T, Abbot Laboratories, Biogen, Intel, Domino’s Pizza, Snap and Twitter. The main events of July 23 are the release of statistics by credit card company American Express Company and energy explorer Schlumberger.
Key benefits to watch
Monday: Tractor Supply Company, AutoNation, Prologis, IBM, Zions Bancorp, BHP Group Limited and Cooper Energy
Tuesday: SKF AB, UBS AG, Telenor ASA, Omnicom Group, Philip Morris International, Halliburton Company, Chipotle Mexican Grill, Intuitive Surgical and Netflix
Wednesday: Rogers Communications, Novartis AG, SAP SE, Johnson & Johnson, Baker Hughes, The Coca-Cola Company, Interpublic Group of Companies, Verizon, Seagate Technology, Harley-Davidson, United Airlines, Kinder Morgan and NETGEAR
Thursday: ABB Ltd, Unilever PLC, Biogen, Roche Holding, Discover Financial Services, Dow, American Airlines Group, AT&T, Abbott Laboratories, Domino’s Pizza, Alaska Air Group, Snap, Southwest Airlines, Skechers USA, VeriSign, Intel Corporation and Twitter
Friday: Norsk Hydro, American Express Company, Honeywell International, Air Canada and Schlumberger Limited
Key economic events in the United States
Here are the notable companies that posted their earnings last week. In case you missed out on catching up on their performance, click on the respective links to browse the transcripts and get more information.
Transcript of JPMorgan Chase Q2 2021 Results
Transcript of Goldman Sachs Q2 2021 Results
Transcript of Pepsi Co Q2 2021 results
Transcription of Infosys Q1 2022 results
Transcript of BlackRock Q2 2021 Results
Delta Air Lines second quarter 2021 results transcript
Wells Fargo Second Quarter 2021 Results Transcript
UnitedHealth Group Second Quarter 2021 Results Transcript
Morgan Stanley Second Quarter 2021 Results Transcript
If you’d like to hear how management responds to analysts’ questions and the tone they use, you can check out our Youtube channel to listen to conference calls on the go.