Tech Giants Apple and Amazon Earnings Await: Wall Street Braces for Explosive Week Ahead
Tech Giants Apple and Amazon...
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Tech Giants Apple and Amazon Earnings Await: Wall Street Braces for Explosive Week Ahead

31 July 2023
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2 min.
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Tech Giants Apple and Amazon Earnings Await: Wall Street Braces for Explosive Week Ahead

Major Stock Moves

Witness Monday's rising stock futures following the S&P 500's impressive month of gains. Stay tuned as Wall Street focuses on earnings from tech giants Apple and Amazon.com, along with the highly anticipated monthly U.S. jobs report this week.

Stock Movements

Adobe - The stock gained 2.4% before the bell after Morgan Stanley upgraded shares to overweight from equal weight and boosted its price target, citing artificial intelligence tailwinds.

Chevron - Shares rose 1.6% after Goldman Sachs upgraded Chevron to buy from neutral and hiked its price target. Analysts said the oil giant is due for a breakout.

Ford Motor - Shares declined 1.1% after Jefferies downgraded the stock to hold, citing weakness in Model E guidance.

Walt Disney's stock rose 0.7% as two former executives returned, as per a Financial Times report.

XPeng's US-listed shares fell 2% premarket after a UBS downgrade, considering the stock's remarkable run-up.

Hasbro added 2.9% premarket on a Bank of America upgrade, expecting strong earnings due to demand for the Lord of the Rings Magic set.

United Parcel Service (UPS) Shares fell 1% after Credit Suisse downgraded UPS to neutral from outperform, citing labor concerns.

GoodRX saw shares rise over 8% premarket on a Cowen upgrade, highlighting pharmacy benefit management partnerships.

SBA Communications - Shares fell 1.6% in premarket trading. The real estate investment trust involved in wireless communications infrastructure is set to report its second-quarter results after the close Monday.

ON Semiconductor The chipmaker's shares gained 1.9% ahead of second-quarter earnings. ON Semiconductor is projected to report earnings of $1.21 per share on revenue of $2.02 billion, according to analysts polled by FactSet. It's set to report results Monday morning.

Upcoming Earnings Reports

In addition to SoFi, earnings reports are expected on:

Monday: Arista Networks (ANET), ON Semiconductor (ON), Western Digital (WDC), and ZoomInfo Technologies (ZI).

Tuesday: Advanced Micro Devices (AMD), Caterpillar (CAT), Pfizer (PFE), and Starbucks (SBUX).

Wednesday: CVS Health (CVS), PayPal (PYPL), and Qualcomm (QCOM).

Thursday: Apple (AAPL), Amazon.com (AMZN), and Alibaba (BABA).

Companies32 in the news

GoodRx Holdings
2 place
Arista Networks
5 place
Jefferies Group
6 place
Western Digital
8 place
Cowen
9 place
Credit Suisse
10 place
ON Semiconductor
11 place
Adobe
12 place
UBS Group AG
13 place
Alibaba Group
14 place
XPeng
16 place
PayPal
17 place
Caterpillar Inc.
20 place
Pfizer
21 place
Starbucks
22 place
Qualcomm
25 place
Apple
26 place
Amazon
27 place
CVS Health
28 place
Chevron
29 place
Morgan Stanley
30 place
Goldman Sachs
31 place
Bank of America
32 place
Section:
Rating companies
Instagram
16 Mention
Tesla
15 Mention
Netflix
13 Mention
JP Morgan Chase
11 Mention
Ford Motor Company
11 Mention
Amazon
10 Mention
White House
7 Mention
Goldman Sachs
7 Mention

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