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Big Earnings Week Ahead To Close April In Style

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Big Earnings Week Ahead To Close April In Style

Last week, the Dow Jones Industrial Average, S&P 500 and Nasdaq broke multiweek winning streaks with modest losses despite Friday's rally. This week's earnings will begin with Tesla (NASDAQ: TSLA) after Monday's closing. The last week of April will be a grand finale as a  third of S&P 500 companies are set to report quarterly results, including Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), Facebook (NASDAQ: FB), Google-parent Alphabet (NASDAQ: GOOG) and Twitter (NASDAQ: TWTR), along with chipmaker Advanced Micro Devices (NASDAQ: AMD).

Monday's Spotlight

After the bell, the California-based EV pioneer and clean energy company Tesla is expected to report its first-quarter earnings of $0.79 per share. Elon Musk is also expected to give special attention to its Autopilot, its suite of advanced driver-assistance systems, which has been again criticized for lulling some drivers into a false sense of security and implying self-driving abilities well beyond its existing capabilities.

COVID-19 Vaccine News

On Friday, U.S. health regulators lifted a recommended pause on the use of Johnson & Johnson's single-dose vaccine that was imposed due to six women developing a rare blood clotting disorder. Sanofi (NASDAQ: SNY) agreed to fill and pack millions of Moderna (NASDAQ: MRNA) mRNA vaccine in an effort to help meet demand. Sanofi said it will help supply up to 200 million doses at its New Jersey facility whereas in January, Sanofi also pledged to help supply Pfizer's (NYSE: PFE) mRNA vaccine which also needs to be given in two doses.

Build Back Better Agenda Updates

Also this week, President Joe Biden is expected to provide more details of his American Families Plan along with tax increases to pay for it, such as a higher capital gains tax for the wealthy. It is reasonable to assume that this change in tax liabilities could have an impact on investments in the stock market. The plan is the second part of his Build Back Better agenda that will also include new spending proposals that aim to help families.

The Tech Sector Will Be Under The Spotlight

Given the tech sector's robust fundamentals, Wedbush Securities analyst Daniel Ives expects that first quarter earnings over the coming weeks will be a major positive catalyst for tech names. Although there will be many months until we know how much of the pandemic-driven remote way of life that boosted tech company's margins last year will continue once when the economy fully reopens, there is plenty to be optimistic about in the sector especially since it seems that remote work is here to stay along with telemedicine. One thing is certain: digital transformation is well underway. By the looks of it, Big Tech will close April in style.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com

The post Big Earnings Week Ahead To Close April In Style appeared first on IAM Newswire.

 

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