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J&J, Procter & Gamble, Netflix Earnings: 3 Things to Watch

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By Dhirendra Tripathi

Investing.com -- Stocks wavered on Monday ahead of a busy week of earnings, including reports from Tesla Inc (NASDAQ:TSLA) and Netflix Inc (NASDAQ:NFLX).

Investors were skittish about slowing economic growth in China, the world’s second largest economy, and concerns about rising oil prices affecting prices across the spectrum. With one half-hour of trading left, the Dow was down slightly while the S&P 500 and Nasdaq were edging higher.

China reported the slowest pace of economic growth in a year in the third quarter, hurt by power shortages and the struggling property sector.

Apple (NASDAQ:AAPL) was rising in anticipation of a product reveal event where it introduced new MacBook Pro laptops powered by an updated home-made chip.

But the big event this week is corporate earnings, and the conference calls where CEOs talk about how they are working around supply shortages, labor shortages and rising material costs and what they were doing about the months ahead.

Analysts expect the S&P 500 earnings to show a 32% rise from a year ago, Reuters reported, citing Refinitiv data.

Other companies up this week include Covid-vaccine maker Johnson&Johnson (NYSE:JNJ), telecom giant Verizon Communications Inc (NYSE:VZ) and chipmaker Intel Corporation (NASDAQ:INTC).

In other stock news on Monday, shares of Walt Disney Company (NYSE:DIS) sold off after Barclays (LON:BARC) analysts cut it to equal weight from overweight, citing challenges in the continued growth of its Disney+ streaming business after starting off last year with blistering hot growth. The company also said it was delaying the production for several movies.

Here are three things that could affect markets tomorrow:

1. Johnson&Johnson earnings

Johnson&Johnson will report third-quarter earnings Tuesday. The company is expected to notch a profit per share of $2.36 on revenue of $23.66 billion, according to analysts tracked by Investing.com. Last week, the company got the nod from the Food and Drug Administration’s vaccine advisory panel for a booster shot of its Covid-19 vaccine.

2. Procter&Gamble earnings

Home-product maker Procter&Gamble Company (NYSE:PG)’s first-quarter revenue is seen at $19.79 billion with profit per share at $1.59. But analysts will be listening to what the company says about hiring and supply chain issues, especially heading into the end of the year.

3. Netflix earnings

Netflix’s third-quarter revenue is estimated to come in at $7.48 billion and earnings per share at $2.57. The streaming giant’s run-away hit Squid Game may be a hard act to follow, but analysts will be listening for what the company says about its content production pipeline.

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