Amazon, McDonald’s, and Microsoft’s revenue and debt limits to be contested a week ahead

Finance


It’s going to be another busy week, not just for first quarter GDP and the ongoing battle over the country’s debt ceiling, but for investors with tons of good chips and big tech returns at their fingertips. prize.

The stock market closed higher on Friday, but ended the week with a small loss.

In Washington, House Speaker Kevin McCarthy (R-California) is set to put a Republican debt-saving bill to a vote this week, fueling political tensions in the race to avoid a U.S. debt default.

Kevin McCarthy speaks at the Capitol

Chairman Kevin McCarthy speaking at a press conference.

FOX Business analyzes other events that could move financial markets in the coming days.

Disney cuts 7,000 jobs

On Monday, Disney implemented its second round of job cuts, with a third already on the horizon. His ESPN division at the company will also implement personnel and management cuts.

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Bob Iger

Disney CEO Bob Iger

The cost savings came after CEO Bob Iger took over after Bob Chapek’s dismissal.

Public comment on the Federal Trade Commission’s guide to the use of environmental marketing claims also closes on Monday. The FTC is seeking input on what marketing claims companies can make about their products and what defines compostable, degradable, and other terms companies use to market their products. I came.

In earnings, Coca-Cola and First Republic Bank will report before the opening bell. Regional banks have been hit hard after the Silicon Valley Bank failure, and the results provide an update on their stability.

Earnings after the bell include Ameriprise Financial and Whirlpool.

Economic data includes the Chicago Fed’s National Activity Index and the Dallas Fed’s Manufacturing Index. Both are projected to decline further.

On Tuesday, Japan’s ispace will attempt to become the first private company to land on the moon.

SPACEX reveals why Starship exploded minutes after launch

Pre-market earnings include General Electric, General Motors, JetBlue, McDonald’s, Raytheon Technologies, UPS, and Verizon.

After the bell, Google’s parent company Alphabet, Boston Properties, Chipotle Mexican Grill, Microsoft, Texas Instruments and Visa will report.

It will also be a busy day for economic data such as Building Permits (Revised), FHFA Monthly Home Price Index, Case-Shiller Home Price Index, Consumer Confidence and New Home Sales.

new house construction

Revised building permit data and the FHFA Monthly Home Price Index are expected this week.

In San Francisco, a suspect in the alleged murder of Cash App founder Bob Lee will be arraigned.

Cash App CEO Bob Lee

Cash App CEO Bob Lee

The National Artificial Intelligence Advisory Committee (NAIAC), established in 2020 to advise the President on AI, today releases its first report and recommendations.

A comprehensive report on artificial intelligence from FOX Business can be found here.

Pre-market earnings include Boeing, General Dynamics, Hilton Worldwide Holdings, Norfolk Southern and potentially struggling Bed Bath & Beyond.

After the bell, eBay, Mattel, Facebook’s Meta and Spirit Airlines will report.

Wednesday’s economic data includes MBA mortgage applications, durable goods and EIA weekly crude stocks.

Pfizer, which accounted for nearly a quarter of biopharmaceutical industry spending in 2022, will host its annual meeting on Thursday. The company has proposed to buy cancer drug maker Siegen for his $45 billion. This is the industry’s largest acquisition since the AbbVie-Allergan transaction in 2019. Analysts say the Siegen deal is likely to face regulatory scrutiny.

Investors on Thursday will continue to monitor the hearings on AMC’s plans to dilute its shares through preferred stock (APE shares). The lawsuit was brought by common shareholders.

Morning earnings include American Airlines, Caterpillar, Mastercard, Merck, Northrop Grumman and Southwest Airlines.

After the bell, Activision Blizzard, Amazon, Intel, L3Harris Technologies, Snap and T-Mobile US will report.

MICROSOFT-ACTIVISION CONTRACTING HITS NEW OBSTRUCTIONS

Thursday’s economic data include first-quarter GDP forecasts expected to show the US economy grew 2% from a 2.6% gain in the fourth quarter.

Also released are the first weekly unemployment claims, NAR pending home sales, and the Kansas City Fed manufacturing index.

JetBlue will make a second up-front payment of $0.10 per share to Spirit Airlines shareholders, but the Justice Department has pursued a lawsuit aimed at blocking the deal, which has sharply reduced competition and put airlines at risk. He said ticket prices could go up.

JetBlue to enter bidding war in April

A JetBlue passenger plane lands past a Spirit Airlines jet on the taxi lane at Fort Lauderdale Hollywood International Airport on April 25, 2022.

Friday morning’s earnings include Outback Steakhouse’s parent Bloomin’ Brands, Charter Communications, Chevron, Colgate-Palmolive and Exxon Mobil.

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Economic data rounding out the week includes Personal Income, Personal Consumption, ECI Employment Wages, Chicago PMI, University of Michigan Consumer Confidence Index (Final) and Dallas Fed PCE.

Jessica Mackenzie contributed to this article.



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