Apple, Hershey And 3 Stocks To Watch Heading Into Friday
Portfolio Pulse from Avi Kapoor
U.S. stock futures are trading higher with focus on Apple, Hershey, American Axle, Coinbase, and Fluor due to earnings reports and corporate actions. Apple announced a $110-billion stock buyback and a dividend increase after reporting strong Q2 results. Hershey, American Axle, and Fluor are anticipated to release their earnings, with Hershey expected to report $2.76 EPS on $3.11 billion revenue. Coinbase reported higher sales for Q1 and projected Q2 subscription and services revenue between $525 million to $600 million.
May 03, 2024 | 6:46 am
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Coinbase reported higher Q1 sales and projects Q2 subscription and services revenue between $525 million to $600 million, despite shares falling 2.2% in after-hours.
Despite reporting higher sales for Q1 and a positive revenue projection for Q2, Coinbase's shares fell in after-hours trading, indicating mixed investor sentiment that could lead to short-term price volatility.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 90
POSITIVE IMPACT
Apple announced a $110-billion stock buyback and a dividend increase after reporting strong Q2 results, with shares gaining 6% in after-hours.
Apple's announcement of a significant stock buyback program and a dividend increase, coupled with better-than-expected Q2 results, is likely to positively impact investor sentiment and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
American Axle is anticipated to post quarterly earnings at 2 cents per share on $1.53 billion revenue, with shares gaining 4.5% in after-hours.
The pre-earnings gain in American Axle's stock price suggests optimism among investors, potentially leading to a positive short-term price movement if earnings meet or surpass expectations.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Fluor is expected to post quarterly earnings at 54 cents per share on $4 billion revenue, with shares rising 0.4% in after-hours trading.
The slight increase in Fluor's stock price ahead of its earnings report suggests cautious optimism among investors, potentially leading to a positive short-term price movement if the company meets or exceeds earnings expectations.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Hershey is expected to report quarterly earnings at $2.76 per share on revenue of $3.11 billion, with shares rising 0.5% in after-hours trading.
Positive anticipation around Hershey's earnings report, indicated by after-hours trading activity, suggests a potential short-term uplift in stock price, assuming the actual results meet or exceed expectations.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 80