Yahoo Finance Trending tickers: Microsoft, Alphabet, AMD and HSBC
The latest investor updates on stocks that are trending on Tuesday
Microsoft (MSFT)
Microsoft is expected to report a 15.8% jump in quarterly revenue, its best growth in nearly two years, after the closing bell on Tuesday.
Microsoft has outperformed the broader market, with shares of the software giant surging over 50% growth in the past year and its market capitalisation hitting $3tn (£2.36tn).
Microsoft is currently the wealthiest company in the world by market cap, beating longtime rival Apple (AAPL).
For the quarter, Wall Street expects Microsoft to post adjusted earnings per share of $2.78 on revenue of $61.1bn, according to analyst estimates compiled by Bloomberg. That would be a jump from the same quarter last year when the company posted an EPS of $2.32 on revenue of $52.7bn.
Read more: FTSE 100 LIVE: Markets up in Europe as HSBC fined £57.4m
The key metric for investors to keep an eye on will be growth in Microsoft's Azure cloud business.
Alphabet (GOOGL, GOOG)
The parent company of Google is scheduled to announce its Q4 results during Tuesday’s post-market session.
Wall Street analysts maintain a bullish view on the stock, with a consensus "Buy" rating.
The consensus mark for earnings is pegged at $1.60, indicating 52.4% growth from the previous year’s reported figure.
Alphabet's revenue is expected to be $85.24bn (£67bn), up from $76.05bn in the fourth quarter of 2022. Analysts anticipate net income to be $20.28bn, up from $13.62bn in the fourth quarter of 2022.
Further integration of Bard with Google apps and services will also be on the lookout, but no doubt it will be a race against time against Microsoft, which has been a first-mover with its ChatGPT.
“Alphabet has beaten market expectations for both earnings per share and revenue over the past three consecutive quarterly results. Investors will be hoping it can make it four in a row,” Dan Coatsworth, investment analyst at AJ Bell, said.
AMD (AMD)
Advanced Micro Devices (AMD), which last month launched a new AI-focused chip aimed at challenging the early market dominance of Nvidia (NVDA), has added more than $130bn to its overall market value over the past three months.
Wall Street is betting its earnings will provide further proof of AMD’s AI chip potential when the company reports its results later on Tuesday.
Read more: Stocks that are trending today
The consensus estimate is for AMD to release revenue of $6.13bn with adjusted earnings per share of 77 cents for the quarter ending December. Analysts estimate the current quarter’s revenue is $5.73bn with EPS of 67 cents.
The company got a show of support last week when Elon Musk said he would buy its chips to power artificial-intelligence efforts at Tesla (TSLA).
HSBC (HSBA.L)
HSBC shares were lower after the lender was fined £57.4m by the Bank of England’s Prudential Regulation Authority (PRA) for “serious failings” over customer deposit protection – the second highest penalty ever imposed by the financial watchdog.
The PRA said HSBC failed “over many years” to properly put in place the requirements to protect saver deposits dating back to 2015.
The regulator said that among its failings, HSBC incorrectly marked 99% of eligible beneficiary deposits as being “ineligible” for protection under the Financial Services Compensation Scheme (FSCS).
HSBC’s fine was reduced from an initial £96.5m for co-operation with the investigation, early admission of rule breaches and agreeing to resolve the matter, according to the PRA.
Watch: Tech earnings, JOLTS data: What to Watch
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