The season of results continues in full swing. The supply company UPS hit earnings expectations in the second quarter on Tuesday, but the stock is trading 9 percent all day.
This is what the leading indices look like on Tuesday at 4.45pm:
- Industrial-heavy Dow Jones fell 0.41 percent
- Growth and technology-driven Nasdaq Composite is down 1.41 percent
- The broad “world index” S&P 500 falls 0.60 percent
This summer’s quarter has yielded results that are stronger than experts expected, writes CNBC. So far, 88 percent of the companies on the S & P500 index have given the result indication that they will earn more than the company expected, the news agency writes.
Tonight, all eyes are on Apple (down 1.03 percent), Microsoft (0.74 percent down) and Alphabet (down 0.40 percent). The technical giants coming after closing time with new figures for the second quarter.
Throughout the week, Amazon (1.55 percent down) and Facebook (1.10 percent up) also come out with new figures.
Historical result for Tesla – number drops from several
- The American bidding company UPS reports domestic sales slightly lower than analysts’ estimates, but beat expectations at both the top and bottom line, according to CNBC. However, the stock fell 8.79 percent on Tuesday afternoon.
- The giant General Electric rose 1.35 percent on Tuesday afternoon after the company beat expectations and surprised analysts with a positive cash flow in the second quarter. Turnover also beat expectations and ended at $ 18.28 billion. This is significantly up from 16.81 billion in the corresponding period last year.
- Starbucks is expanding its partnership with Nestlé, and now announces that it will invest in Southeast Asia and South America, according to Reuters. They will also release quarterly figures later this week. The stock rose 0.36 percent on Tuesday afternoon.
- 3M, the company behind the yellow Post-it notes, rose 1.17 percent on Tuesday afternoon after beating second-quarter expectations by $ 8.95 billion in revenue and $ 2.59 revenue per share. In comparison, analysts at the financial platform Investing had expected revenue of $ 8.53 billion.
- On Monday night, the electric car giant Tesla was able to present new figures for the second quarter. It turned out that for the first time, the company can post a profit of more than one billion dollars. At the same time, the company doubled its turnover, and the share was down 2.11 percent on Tuesday afternoon.
Seadrill went down Tuesday
Crisis-hit rig company Seadrill crashed on the Oslo Stock Exchange on Monday, after agreeing with major lenders this weekend on a rescue plan. The company is also traded on the US market. The stock was up more than 50 percent through the trading day on Monday, and going up by 20 percent on Tuesday afternoon.
Intel will produce data chips
Despite the worldwide shortage of data chips, Intel has decided to regain market share by producing just that. It writes CNBC on Tuesday. The technology company has recently published a plan for the coming years where they will launch a new data chip in the year to 2025.
They hope it will increase the pressure on, among others, competitor and major supplier Taiwan Semiconductor Manufacturing Company (TSMC). The stock is down 2.84 percent on Tuesday afternoon.