Taking a cue from the presidential election, stock markets bounced back after ending the previous week on a low note. Major indexes moved up consistently and the Dow Jones Industrial Average added more than 500 points since the previous close. The S&P 500 index is up 67 points since the last close.
As the final poll verdict emerges, the uptrend is continuing after the stock market witnessed the biggest gain in more than six months. Once again, the rally is led by the technology sector and the top gainers include Amazon, Apple and Microsoft.
After AMD’s high-value buyout of Xilinx and the Dunkin’-Inspire deal last week, the M&A scene slowed down, with business houses deferring major deals in the face of the virus-induced uncertainty. Meanwhile, Visa‘s planned acquisition of financial technology company Plaid hit a roadblock after the U.S government challenged the deal by filing a lawsuit.
Elsewhere, accommodation booking portal Airbnb moved closer to its long-pending stock market debut, with the management deciding to file for the $30-billion IPO next week.
It was a lean week for earnings, with only a few major companies reporting, including Alibaba Group, Electronic Arts, General Motors and PayPal. Some of the main events scheduled for next week are earnings reports from McDonald’s and Lyft — expected on Monday and Tuesday respectively. Others reporting their quarterly numbers include Tencent Music, on Tuesday, and Cisco and Walt Disney on Thursday.
Key Earnings to Watch
Key Corporate Conferences to Watch
Key Investor Days/AGMs to Watch
Key US Economic Events
The following are notable companies which have reported their earnings last week. In case if you have missed to catch up on their performance, click the respective links to skim through the transcripts to glean more insights.
If you want to listen to how management responds to analyst questions and the tone they use, you can head over to our YouTube channel to listen to conference calls on the go.
Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today. Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections. Global comparable store sales increased
Alphabet Inc. (NASDAQ: GOOGL, GOOG) on Thursday reported a 1% increase in fourth-quarter 2022 revenues, with strong contributions from the cloud business. The company, which owns the largest internet search
Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,