Wednesday is going to mark yet another important day for the early wave of key earnings for this earnings season. The second quarter became more challenging for many companies as we noted about so many tech warnings weighing on shares last week. We have provided some brief earnings previews with Thomson Reuters consensus estimates on each with some added color if applicable.
Earnings are going to be reported by the following major companies on Wednesday: Abbott Laboratories (NYSE: ABT); American Express Co. (NYSE: AXP); Bank of America Corporation (NYSE: BAC); Delta Air Lines Inc. (NYSE: DAL); eBay Inc. (NASDAQ: EBAY); Honeywell International Inc. (NYSE: HON); International Business Machines Corporation (NYSE: IBM); QUALCOMM Inc. (NASDAQ: QCOM); U.S. Bancorp (NYSE: USB); and Yum! Brands Inc. (NYSE: YUM)
Abbott Laboratories (NYSE: ABT) reports Wednesday morning and we are looking for more data on the break-up here. Estimates are $1.22 EPS and $9.84 billion in revenue. Next quarter estimates are $1.27 EPS and $9.94 billion in revenue.
American Express Co. (NYSE: AXP) reports after the close and this DJIA component is expected to report earnings of $1.09 EPS on revenue of $8.11 billion. Next quarter estimates are $1.06 EPS and $8.07 billion in revenue. While there have been many credit metric improvements, we are going to pay close attention to see if its credit metrics are able to keep improving much on top of what we have seen of late as the most recent Treasury report showed that consumers are carrying more revolving credit and that means higher credit card debt.
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