Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Facebook Blows Away Profit Estimates Despite Tepid Revenue
Facebook (NASDAQ:FB) could be a big mover for the market tomorrow morning if investors can get a handle on whether they like the company's latest quarterly results or not.
Shares of Facebook fell right after the release of its postmarket results on weak revenue, but then buyers came back in to push shares just into the green.
The company reported earnings per share of $1.76 on revenue of $13.73 billion. Analysts polled by Investing.com expected EPS of $1.46 on revenue of $13.77 billion.
The number of active users also looked slightly below Wall Street forecasts.
But the stock rose about 1% in after-hours trading, following some volatile initial trading. Shares were up about 3% in the regular trading session ahead of the results.
2. GM, Yum! and Kellogg's to Report
Among the earnings scheduled before the bell tomorrow, General Motors (NYSE:GM) stands out.
The automaker has consistently beaten profit expectations of late, but fell short on sales in the last quarter. Shares have struggled and are down more than 20% in the past year.
On average, analysts expect GM to post a profit of $1.24 per share on sales of a little more than $35 billion.
Also on the docket are earnings from fast-food operator Yum! Brands (NYSE:YUM) and numbers from cereal company Kellogg's (NYSE:K).
3. ADP Employment Expected to Slip
They can get lost in the deluge of earnings, but jobs numbers arrive this week as well.
Starting tomorrow, ADP (NASDAQ:ADP) releases its measure of October private sector employment at 8:15 AM ET (12:15 GMT).
Economists expect that nonfarm employment rose by 189,000 this month, down from a rise in payrolls of 230,000 in September.
At 9:45 AM ET there will be numbers on Midwest manufacturing activity with the release of October’s Chicago PMI.
The PMI is forecast to have fallen very slightly to 60.3 from 60.4 the month before.