Before markets opened on Tuesday, oilfield services giant Halliburton beat expectations on both the top and bottom lines, and the CEO made some upbeat statements about the future, though the company offered no specific guidance (as usual). Shares traded down about 2% in premarket trading.
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Johnson & Johnson posted better-than-expected earnings but missed on revenues. The company also cut earnings guidance. Shares traded down about 0.4% (that is the power of dividends in an inflationary period). Truist also beat the earnings estimate and missed on revenue. The stock was down about 0.7% in premarket trading Tuesday.
Lockheed Martin was another company that beat the earnings estimate but missed on revenue. The defense contractor reaffirmed fiscal year guidance, but the stock traded down by about 2% in Tuesday’s premarket.
We already have previewed three tech companies that report results late Tuesday or early Wednesday (ASML, IBM and Netflix) and three more also reporting March-quarter results before markets open Wednesday (Abbott Labs, Baker Hughes and Procter & Gamble).
Here are five companies scheduled to report results after markets close on Wednesday.
Alcoa
Aluminum producer and refiner Alcoa Inc. (NYSE: AA) has added about 152% to its share price over the past 12 months, including a spike of 58% since the end of January. Aluminum prices hit an all-time high of around $3,800 per metric ton in early March, before falling to around $3,500 just two weeks later.
The London Metals Exchange (LME) has doubled its default fund to more than $2 billion, and aluminum prices continue to be at serious risk of rising again due to disruption in supply. Russia was the third-largest exporter of aluminum ($4.2 billion, nearly 9% of global exports) in 2020, trailing only Canada and the United Arab Emirates.
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