Yahoo Finance Day Ahead: Top 3 Things to Watch
Investing.com - Here are three things that could rock markets tomorrow.
1. Amazon (NASDAQ:AMZN) Profit Report Leads the Parade
Amazon.com (NASDAQ:AMZN) is the earnings highlight tomorrow, with quarterly results coming after the bell.
On average, analysts expect that the company earned $4.59 per share in the latest quarter, according to forecasts compiled by Investing.com.
Sales are seen coming in at around $68.8 billion.
Investors will be especially interested in its content plans as the streaming competition heats up, with Walt Disney's (NYSE:DIS) Disney+ service and Apple's (NASDAQ:AAPL) Apple TV Plus launching next month. (HBO Max arrives next year.)
Two big brokerages weighed in on the stock last week ahead of the earnings report.
Credit Suisse (SIX:CSGN) raised its price target on the stock to $2,400 from $2,225 and said it can see a 35% rally ahead.
Goldman Sachs (NYSE:GS) lowered its target to $2,350 from $2,400, but maintained its buy rating on shares ahead of the results.
Amazon (NASDAQ:AMZN) was down 8.3% in the third quarter and is up 1.39% this month. It's up 17.2% on the year.
2. Twitter, 3M (NYSE:MMM), Comcast (NASDAQ:CMCSA) Also Reporting
Twitter (NYSE:TWTR) will report its third-quarter results before the bell.
The social media company is expected to post a profit of 20 cents per share on revenue of about $874 million.
As usual, other metrics will also move the stock, especially monetizable daily active users (mDAUs).
Analysts are looking for mDAUs to come in at $142 million, up from $139 million in the second quarter.
3M (NYSE:MMM) is also reporting earnings.
The Dow component is expected to report earnings of $2.49 per share on revenue of about $8.2 billion.
And cable and entertainment giant Comcast (NASDAQ:CMCSA) is seen posting a profit of 74 cents a share, with revenue coming in at about $27 billion.
3. Durable Goods, New Home Sales on the Cards
Along with earnings, the economic calendar is pretty busy tomorrow.
At 8:30 AM ET (12:30 GMT), the Commerce Department will issue its September measures of durable goods orders.
Orders for long-lasting goods are expected to have dropped 0.5% last month according to economists’ forecasts compiled by Investing.com.
Core durable goods orders, which exclude autos, are predicted to have fallen 0.2%.
At the same time, the Labor Department will report the latest weekly jobless claims numbers.
Claims for first-time unemployment benefits are expected to have ticked up to 216,000 from 214,000 the week before.
At 10:00 AM ET, new home sales figures arrive from the Commerce Department.New home sales are predicted to have fallen 0.7% in September to an annual rate of 710,000.
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