Earnings on tap; Google powers ahead; PSA surge

1. Endless earnings: Quarterly earnings are going to keep piling up on Tuesday.Companies incl...

Posted: Jul 24, 2018 12:38 PM
Updated: Jul 24, 2018 12:38 PM

1. Endless earnings: Quarterly earnings are going to keep piling up on Tuesday.

Companies including 3M, Eli Lilly, Harley-Davidson, JetBlue Airways, Kimberly-Clark, Lockheed Martin, Sherwin-Williams and Verizon will report before the open.

Investors will be watching to see what Harley-Davidson says about tariffs. The motorcycle giant said last month that it would shift some production out of the United States to avoid tariffs imposed in retaliation for Trump administration policies.

AT&T, Chubb and Texas Instruments will release earnings after the close.

2. European earnings: PSA Group, which owns the Peugeot and Opel brands, reported a 40% surge in sales in the first six months of the year. Analysts at Jefferies said there were "impressive numbers all around," and the stock surged 9%.

Shares in UBS shot up 3% after the Swiss bank reported a net profit of 1.3 billion Swiss franc ($1.3 billion) for the second quarter.

3. Google powers ahead: Shares in Google's parent company Alphabet were up 4% premarket after the tech giant reported quarter results on Monday.

Profits were dented in the second quarter by last week's record $5 billion European antitrust fine, but a surge in sales offset that hit.

The company's profit fell to $3.2 billion in the quarter ending in June, down from about $3.5 billion in the same period a year ago. Without the penalty, Alphabet's profit would have been $8.3 billion.

When asked about the potential business impacts from the EU ruling on a conference call with analysts Monday, Google CEO Sundar Pichai said it's "too early" to tell. "We are analyzing the decision," he said.

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4. Stock market movers -- Whirlpool, Changchun Changsheng Biotechnology: Whirlpool shares are slated to drop by about 10% at the open as investors react to worse-than-expected quarterly results.

Shares in Changchun Changsheng Biotechnology dropped 10% in Shenzhen after police in China launched a criminal investigation into faulty vaccines from the company.

5. Global market overview: US stock futures were steady.

Nearly all European markets advanced in early trading.

Asian markets ended the day with gains after the Chinese government reportedly unveiled an economic stimulus package. The move could help counter the threat of heightened trade tensions with the United States.

Key Chinese indexes gained roughly 1.5%.

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6. Coming this week:

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.

Confirmed Cases: 49063

Reported Deaths: 2732
CountyConfirmedDeaths
Marion11760689
Lake5276246
Elkhart340255
Allen2835133
St. Joseph200169
Cass16429
Hamilton1608101
Hendricks1425100
Johnson1296118
Porter76738
Tippecanoe7359
Clark66844
Madison66764
Bartholomew59145
Vanderburgh5876
LaPorte58326
Howard58058
Kosciusko5624
Marshall5016
Noble48528
LaGrange4779
Jackson4733
Boone45443
Delaware45252
Hancock45236
Shelby43125
Floyd38444
Morgan32731
Monroe30928
Montgomery29720
Grant29626
Clinton2902
Dubois2886
Henry28216
White26610
Decatur25432
Lawrence24825
Dearborn23823
Vigo2388
Warrick22729
Harrison21622
Greene19032
Miami1862
Jennings17712
Putnam1708
DeKalb1634
Scott1628
Daviess14817
Wayne1436
Orange13623
Perry1359
Steuben1302
Franklin1268
Ripley1247
Jasper1232
Wabash1142
Carroll1102
Fayette1037
Newton9910
Gibson982
Whitley975
Starke943
Randolph804
Huntington782
Jefferson762
Wells751
Fulton721
Jay680
Washington671
Pulaski661
Knox640
Clay604
Rush583
Owen501
Adams491
Benton480
Posey450
Sullivan451
Spencer441
Brown421
Blackford392
Crawford320
Fountain322
Tipton311
Switzerland280
Parke240
Martin220
Ohio180
Vermillion140
Warren141
Union130
Pike110
Unassigned0193

Ohio Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 60181

Reported Deaths: 2991
CountyConfirmedDeaths
Franklin10879439
Cuyahoga8277383
Hamilton6287206
Lucas2836303
Marion273639
Summit2241207
Pickaway220541
Montgomery220131
Mahoning1861239
Butler167447
Columbiana130960
Stark1156113
Lorain106468
Trumbull99774
Warren89525
Clark7809
Delaware61715
Fairfield60517
Tuscarawas58510
Belmont55522
Medina54332
Lake52920
Licking52012
Miami47531
Portage46159
Wood45251
Ashtabula43744
Clermont4317
Geauga41443
Wayne36552
Richland3515
Allen32841
Mercer2909
Greene2879
Darke25326
Erie25022
Holmes2453
Huron2282
Madison2029
Ottawa16024
Washington14020
Sandusky13814
Crawford1365
Putnam13215
Ross1323
Coshocton1302
Hardin12312
Morrow1181
Auglaize1074
Jefferson922
Union921
Monroe8917
Muskingum891
Hancock831
Preble801
Athens791
Hocking798
Guernsey763
Lawrence740
Williams722
Shelby704
Clinton680
Logan651
Fulton630
Ashland621
Carroll603
Wyandot605
Brown591
Scioto540
Defiance533
Knox531
Fayette480
Highland461
Champaign441
Van Wert420
Perry371
Seneca352
Henry320
Jackson260
Paulding260
Adams241
Pike240
Vinton222
Gallia201
Harrison121
Meigs120
Morgan110
Noble110
Unassigned00
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