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Pfizer Profit, CVS Outlook, Conoco: 3 Things to Watch

Stock MarketsMay 03, 2021 03:34PM ET
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© Reuters.

By Liz Moyer

Investing.com -- Stocks rose Monday, except the tech-heavy NASDAQ Composite, as another 130 companies prepared to release quarterly results this week.

The big economic data for the week comes at the end: the jobs report for April, which many are expecting will show a continued rebound in the labor market.

Upbeat earnings last week are setting the market’s tone, today's drop in the Nasdaq notwithstanding. Tech giants Apple Inc (NASDAQ:AAPL), Facebook Inc (NASDAQ:FB), and Google’s Alphabet (NASDAQ:GOOGL) Inc Class C (NASDAQ:GOOG)smashed expectations. But for some companies, like Twitter Inc (NYSE:TWTR), the comparisons to last year's results will become increasingly difficult over the year now that a surge in business during the pandemic is leveling out.

The strong performance in the recent quarter, combined with the Federal Reserve keeping rates near zero and buying bonds, continues to light a fire under the S&P 500, which has set several record highs in recent weeks.

Here are three things that could affect markets tomorrow:

1. Pharmaceutical earnings

Pfizer Inc (NYSE:PFE), with BioNTech SE (NASDAQ:BNTX) the maker of the Covid-19 vaccine built on mRNA technology, is set to report before the opening bell. Analysts are expecting earnings per share of 78 cents on revenue of $13.7 billion. Listen for Pfizer’s outlook on vaccine rollouts for the rest of the year.

2. Another health-related report

Drugstore retailer and insurance giant CVS Health Corp (NYSE:CVS) will also come out on Tuesday morning. Analysts are expecting EPS of $1.72 on revenue of $68.4 billion. Last week, CVS said it was launching a $100 million venture fund focused on investments in tech-enabled and digital healthcare companies.

3. Word from the energy sector

Oil giant ConocoPhillips (NYSE:COP) will report on its quarter with analysts expecting EPS of 55 cents on revenue of $8.5 billion. U.S. gas demand rose 3% last week to the second-highest level since the pandemic started as Americans hit the road again. Demand levels hovered nearly 5% over the four-week average, according to data from GasBuddy.

 

Pfizer Profit, CVS Outlook, Conoco: 3 Things to Watch
 

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Comments (3)
Alvin Frias
Alvin Frias May 03, 2021 9:15PM ET
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hola como estan la cuenta me da fallo
Bobster Bambino
Bobster Bambino May 03, 2021 8:20PM ET
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Long pfe as covid will be here for a decade thanks to anti-vaxxers, variants and limited vaccine supply in ghetto countries.
WISDOM CHIEBUKA
WISDOM CHIEBUKA May 03, 2021 6:50PM ET
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I don't see how it will affect market tomorrow because without the help of the vaccine thousand of people will continue to be dieing
 
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