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AT&T, Airlines, Social Media Profits: 3 Things to Watch

Stock MarketsJul 21, 2021 04:20PM ET
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By Dhirendra Tripathi

Monday’s market rout is just a distant and foggy memory, apparently.

Stocks resumed their uphill climb again on Wednesday after Tuesday’s big snap-back despite fears about the Delta variant of coronavirus potentially disrupting the economic recovery.

Helping the bull case were strong earnings reports from places like Verizon Communications Inc (NYSE:VZ)and Chipotle Mexican Grill Inc (NYSE:CMG). Coca-Cola Co (NYSE:KO) also showed positive trends. 

Treasury yields, which had been under pressure, gained some ground again. The 10-year yield nudged up to 1.288%.

A European Central Bank meeting on Thursday is expected to strike a dovish tone, Reuters reported.

Here are three things that could affect markets tomorrow:

1. AT&T’s earnings

Telecom giant AT&T Inc (NYSE:T), which announced earlier its plans to shed news and entertainment unit WarnerMedia to Discovery Inc Class A (NASDAQ:DISCA), reports results on Thursday. Analysts tracked by expect it to report second-quarter EPS of 79 cents on revenue of $42.66 billion.

2. Airline earnings

Airlines are also in the spotlight this week as a surge in delta-related coronavirus cases threatens to crimp travel again. Southwest Airlines Company (NYSE:LUV) is seen posting a per-share loss of 27 cents on $3.91 billion revenue for the second quarter. American Airlines Group (NASDAQ:AAL)is likely to report a per-share loss of $2.12 on second-quarter revenue of $7.3 billion.

3. Twitter and Snap

Social media did well when people were glued to their devices during the pandemic, but it’s not clear whether the giants can maintain their same growth trajectories. Twitter Inc (NYSE:TWTR)’s second-quarter EPS is seen coming in at 7 cents a share on $1.06 billion in revenue. Snap Inc (NYSE:SNAP) is expected to lose 18 cents a share on revenue of $844 million.


AT&T, Airlines, Social Media Profits: 3 Things to Watch

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