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Earnings bonanza; Shock at Fiat Chrysler; Ryanair struggles

1. Earnings bonanza: The earnings season is in full swing.Things kick off before the bell Mon...

Posted: Jul 23, 2018 2:00 PM
Updated: Jul 23, 2018 2:00 PM

1. Earnings bonanza: The earnings season is in full swing.

Things kick off before the bell Monday with toymaker Hasbro and oilfield services firm Halliburton. Google parent company Alphabet, Whirlpool and TD Ameritrade will follow after the close.

Up later in the week are companies including AT&T, Harley-Davidson, JetBlue, Boeing, Coca-Cola, Facebook, Ford, Fiat Chrysler, General Motors, Amazon, American Airlines, McDonald's, Starbucks and Twitter.

2. Global stock market overview: US stock futures were looking soft on Monday.

Most European markets dipped in early trading, with main indexes in Britain and France off 0.5%.

Asian markets ended the day with mixed results. The Nikkei in Japan dropped 1.3% while the Shanghai Composite surged 1.1%.

US market moves were muted last week. The Dow Jones industrial average gained 0.2%, while the S&P 500 was flat and the Nasdaq dropped 0.1%.

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3. Stock market movers -- Ryanair, Fiat Chrysler, Ferrari: Shares in Ryanair dropped 6% after the low-cost carrier said that higher fuel costs, rising wages and strikes by pilots and regional air traffic controllers had caused its first quarter profit to drop 20% over the previous year.

Shares in Fiat Chrysler (FCA) were down 3% in Milan after the automaker announced the sudden resignation of Sergio Marchionne on Saturday after the longtime CEO suffered complications from surgery.

Replacing him will be the former boss of the automaker's Ram and Jeep brands, Mike Manley.

The company said in a statement that "unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours."

Marchionne, 66, will also leave his roles as chairman and chief executive at Ferrari, which was spun off from FCA several years ago. The luxury carmaker said Louis Camilleri, a Ferrari board member and chairman of Philip Morris International Inc., will become CEO.

Shares in Ferrari also declined 3%.

4. Watching Iran: US President Donald Trump has warned on Twitter that Iran could "suffer consequences the likes of which few have ever suffered before."

The tweet, which was posted late Sunday night, follows an apparent warning from Iran's President Hassan Rouhani, in which he cautioned that Americans "must understand that war with Iran is the mother of all wars and peace with Iran is the mother of all peace," according to Iranian state media reports.

Despite the dramatic rhetoric, US crude oil futures were little changed at $68.50 per barrel.

The United States is preparing to reimpose harsh sanctions on Iran that threaten its oil exports after the Trump administration pulled out of a nuclear deal with the country.

5. Transatlantic transactions: Shares in French IT services firm Atos slipped 5% in Paris after the company announced a plan to buy the US-based firm Syntel for $3.4 billion in cash.

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6. Coming this week:
Monday - Earnings from Alphabet and Hasbro
Tuesday - Earnings from 3M, AT&T, Harley-Davidson, JetBlue, Kimberly-Clark, Lockheed Martin, Texas Instruments and Verizon
Wednesday - Earnings from Boeing, Coca-Cola, Equifax, Facebook, Ford, Fiat Chrysler, General Motors and Mattel; President Donald Trump and European Commission President Jean-Claude Juncker meet in Washington to discuss trade issues
Thursday - Earnings from Amazon, American Airlines, Chipotle, McDonald's and Starbucks
Friday - Exxon Mobil, Merck and Twitter report earnings; 21st Century Fox holds shareholder meeting; US reports Q2 GDP data

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 605426

Reported Deaths: 9642
CountyCasesDeaths
Marion836221331
Lake45189680
Allen32646547
Hamilton29240315
St. Joseph27260380
Elkhart24354344
Vanderburgh19292248
Tippecanoe17905133
Johnson14974293
Porter14707168
Hendricks14295248
Madison10909220
Vigo10688179
Clark10581139
Monroe9338110
Delaware9089134
LaPorte9007162
Howard8177143
Kosciusko803182
Warrick668798
Hancock6639104
Bartholomew6443100
Floyd6377109
Wayne6106161
Grant5965115
Dubois554079
Boone549467
Morgan535595
Henry505564
Marshall502684
Cass482663
Dearborn476245
Noble471257
Jackson421947
Shelby413881
Lawrence389179
Clinton372043
Gibson369159
DeKalb345964
Harrison345644
Montgomery343354
Knox334339
Miami319844
Steuben313045
Whitley304526
Wabash301447
Adams299635
Ripley297545
Putnam294149
Huntington290659
Jasper288134
White272242
Daviess266774
Jefferson262538
Decatur246583
Fayette246348
Greene239262
Posey238128
Wells234050
LaGrange227662
Scott223439
Clay221832
Randolph212848
Jennings197736
Sullivan191133
Spencer190121
Washington183722
Fountain183127
Starke174843
Jay167022
Owen163637
Fulton163130
Orange157234
Carroll156415
Rush154418
Perry152727
Vermillion148634
Franklin147833
Tipton131832
Parke13038
Pike116226
Blackford110922
Pulaski96837
Newton90721
Brown87534
Benton86510
Crawford7929
Martin73013
Warren6777
Switzerland6575
Union6267
Ohio4867
Unassigned0375

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 853982

Reported Deaths: 10599
CountyCasesDeaths
Franklin100550707
Cuyahoga849601082
Hamilton63509448
Montgomery42863417
Summit34586759
Lucas31151616
Butler30735231
Stark25598430
Warren19552140
Lorain18847223
Mahoning17215337
Lake15967154
Clermont15800111
Delaware1430578
Licking13130137
Trumbull12739313
Fairfield1269181
Greene11975136
Medina11504168
Clark10867265
Wood10289158
Allen9826126
Portage9213108
Miami911373
Richland9085117
Marion7437113
Tuscarawas7339181
Columbiana7286124
Pickaway721750
Wayne6987171
Muskingum693941
Erie6113127
Hancock549090
Ross546098
Scioto536364
Geauga503855
Darke467892
Ashtabula451073
Lawrence450154
Union447728
Sandusky434762
Mercer432488
Huron425441
Seneca424865
Auglaize421164
Shelby420522
Jefferson416769
Belmont412740
Washington385240
Athens37669
Putnam373575
Madison352129
Knox350222
Ashland342838
Fulton336543
Defiance328282
Crawford320573
Preble319137
Brown309121
Logan305532
Ottawa290143
Clinton287943
Williams277167
Highland273718
Jackson262445
Guernsey251325
Champaign249728
Fayette235130
Morrow23124
Perry228718
Holmes223874
Henry217349
Hardin211333
Coshocton204521
Van Wert201145
Gallia195426
Wyandot194651
Pike173917
Adams173015
Hocking171024
Carroll154216
Paulding143421
Noble120340
Meigs108024
Monroe100631
Harrison88421
Morgan82629
Vinton69513
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