Novosti i prognoe: tržište kapitala od 24-07-2020

U.S. stock-index futures fell on Friday, as investors assessed negative-sounding reports on the U.S.-China relations and COVID-19 response legislation negotiations, as well as mixed corporate earnings reports.

Global Stocks:

(company / ticker / price / change ($/%) / volume)

Intel (INTC) downgraded to Under Perform from Market Perform at Northland Capital

Intel (INTC) downgraded to Neutral from Buy at ROTH Capital

Tesla (TSLA) downgraded to Neutral from Outperform at Daiwa Securities

JPMorgan Chase (JPM) upgraded to Buy from Neutral at Goldman

Verizon (VZ) reported Q2 FY 2020 earnings of $1.18 per share (versus $1.23 per share in Q2 FY 2019), beating analysts’ consensus estimate of $1.15 per share.

The company’s quarterly revenues amounted to $30.400 bln (-5.2% y/y), beating analysts’ consensus estimate of $29.976 bln.

VZ fell to $55.70 (-0.27%) in pre-market trading.

American Express (AXP) reported Q2 FY 2020 earnings of $0.29

 per share (versus $2.07 per share in Q2 FY 2019), beating analysts’ consensus estimate of $0.02 per share.

The company’s quarterly revenues amounted to $7.675 bln (-29.2% y/y), missing analysts’ consensus estimate of $8.252 bln.

AXP fell to $96.25 (-0.43%) in pre-market trading.

FXStreet reports that analysts at Credit Suisse note that the S&P 500 Index has completed a bearish reversal day after again failing to hold above the beginning of the large February gap at 3260 and the risk for a swing lower within the broader range has grown sharply, with a move below 3198 seen marking a near-term top.

“The S&P 500 has retested and rejected near-term resistance at 3279/81 and not only is the market yet again back below the lower end of its large February price gap at 3260, but yesterday saw a bearish ‘reversal day’ complete.” 

“With Nasdaq 100 still holding its bearish ‘reversal day’ from the beginning of last week and with growing signs of ‘risk-off’ elsewhere, the risk is seen building again for a retracement lower here. Key near-term support is seen at its 13-day average at 3215/11, with a break below 3200/3198 needed to confirm a near-term top. This would then open the door to a swing lower within the broader sideways range with support seen next at 3173, ahead of 3154 and then more importantly 3127.” 

“Resistance is seen at 3248 initially, above which can see a move back to 3266. Above 3279/81 though is needed to reassert an upward bias again, with the top of the February gap seen at 3328/38.”

Honeywell (HON) reported Q2 FY 2020 earnings of $1.26 per share (versus $2.10 per share in Q2 FY 2019), beating analysts’ consensus estimate of $1.24 per share.

The company’s quarterly revenues amounted to $7.477 bln (-19.1% y/y), beating analysts’ consensus estimate of $7.279 bln.

HON fell to $153.50 (-0.15%) in pre-market trading.

Intel (INTC) reported Q2 FY 2020 earnings of $1.23 per share (versus $1.06 per share in Q2 FY 2019), beating analysts’ consensus estimate of $1.11 per share.

The company’s quarterly revenues amounted to $19.728 bln (+19.5% y/y), beating analysts’ consensus estimate of $18.551 bln.

The company also issued mixed guidance for Q3 FY 2020, projecting EPS of approx. $1.10 versus analysts’ consensus estimate of $1.14 and revenues of approx. $18.20 bln versus analysts’ consensus estimate of $17.94 bln.

For FY 2020, it sees EPS of approx. $4.85 versus analysts’ consensus estimate of $4.78 and revenues of approx. $75.00 bln versus analysts’ consensus estimate of $73.83 bln.

In addition, Intel said its 7nm-based CPU product timing is delayed.

INTC fell to $53.20 (-11.92%) in pre-market trading.