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Tesla Sales, Verizon 5G, IBM Earnings: 3 Things to Watch

Stock MarketsOct 19, 2021 03:26PM ET
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© Reuters.

By Dhirendra Tripathi

Investing.com -- Stocks rose on Tuesday on strong results from Johnson & Johnson and others that whet investors’ risk appetites.

The S&P 500 was edging closer to a new record high, after hitting its last one in late September, with just a half-hour left in the trading day. Bitcoin also rose as ProShares’ new Bitcoin futures ETF began trading. The biggest cryptocurrency was also approaching its all-time high.

Covid-19 vaccine maker Johnson & Johnson (NYSE:JNJ) rose 3.1% after it raised its earnings forecast for the year. Reuters reported that analysts now expect S&P 500 earnings to rise 32.4% from a year earlier, citing Refinitiv data.

Investors to what executives are saying about rising costs and supply issues as well as labor shortages. Procter & Gamble Company (NYSE:PG) weighed on consumer staples stocks after it said higher commodity and freight costs would eat into profit, and forced it to raise prices for household goods.

While we await regulators’ decision on whether Americans can mix and match their Covid vaccines and booster shots, another maker of a Covid antiviral pill had a rough day. Atea Pharmaceuticals Inc (NASDAQ:AVIR) dropped 60% after bad news from a trial of its pill.

Wednesday brings the Federal Reserve’s latest Beige Book report from its 12 district banks. Here are three things that could affect markets tomorrow:

1. Tesla earnings

Electric vehicle maker Tesla Inc (NASDAQ:TSLA) will release its third quarter earnings Wednesday. According to a poll of analysts by Investing.com, the company is expected to clock a profit per share of $1.52 on revenue of $13.57 billion. Analysts will be listening for word about its progress building vehicles in China.

2. Verizon earnings

Telecommunications giant Verizon Communications Inc (NYSE:VZ) is seen posting earnings per share of $1.36 in the third quarter and revenue of $33.32 billion. Analysts will be listening for word on labor shortages and its 5G rollout.

3. IBM earnings

International Business Machines (NYSE:IBM)’s third-quarter revenue is expected to touch $17.78 billion with EPS at $2.53.

Tesla Sales, Verizon 5G, IBM Earnings: 3 Things to Watch
 

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Comments (4)
სმარტ ენერჯი დიეტა გაყიდვები
სმარტ ენერჯი დიეტა გაყიდვები Oct 19, 2021 11:35PM ET
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Phong Trịnh
Phong Trịnh Oct 19, 2021 8:31PM ET
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helo
Millennial Metals
Millennial Metals Oct 19, 2021 5:14PM ET
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Zillow has stopped buying homes and is underwater on all the homes they bought. The bubble is popping
Scott Alexander
Scott Alexander Oct 19, 2021 5:14PM ET
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Underwater...because they haven't yet updated them and sold them for a profit.  House price increases will persist through next year.  May even rise higher if Covid hits hard again this winter.  I don't expect that but then....
Shamsiden Abubakar
Shamsiden Abubakar Oct 19, 2021 4:27PM ET
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