Markets Up To Start The Week: PLTR, MCHP Meet Earnings


person using MacBook Pro on tableImage Source: UnsplashMarkets start the week in the green. It’s the third-straight up-day for both the S&P 500 and the Nasdaq, fourth straight for the blue-chip Dow. We’re just about back to breakeven over the past month (the Nasdaq has already gotten there), which is notable considering where we were a couple weeks ago. The Dow gathered +176 points in today’s session, while the S&P gained +1.03% and the tech-heavy Nasdaq +1.19%. The small-cap Russell 2000 performed just as well: +1.16% for the day.We’re taking something of a break this week from key economic data. This follows Jobs Week last week, which also had the latest Fed meeting and was the single-busiest week of the calendar Q1 earnings season. That said, we still will have heard from around 2000 companies reporting by the opening bell on Friday, with some notable — if less impactful — data out this week. A plethora of Fed members are also making public appearances throughout the week. We expect a united front in messaging from the various Fed members.Intelligence software firm Palantir (PLTR – Free Report) is out with Q1 earnings this afternoon. The company met the expected 8 cents per share on $634 million in revenues, ahead of the $615 million in the Zacks consensus. Full-year revenue guidance has bumped slightly higher than previously anticipated, to a range of $2.68-2.69 billion, as U.S. commercial revenue is expected to come in stronger, with its artificial intelligence platform — A.I.P. — leading the way forward for the Denver-based firm.Microchip Technology (MCHP – Free Report) released fiscal Q4 earnings after today’s close. It also met expectations on its bottom line, to 57 cents per share, on in-line $1.33 billion for the quarter. This top-line figure is -40% from the year-ago period and -25% sequentially, as the firm said low business visibility due to short lead times is manifesting as more conservative revenue guidance. That said, the company did crank up its dividend yield +18%, but share are still down -4.5% in the late trading session.Tomorrow morning, The Walt Disney Co. (DIS – Free Report) reports fiscal Q2 earnings results. The entertainment conglomerate is expected to come in +19% on quarterly earnings, on +1.3% revenue growth. Disney is currently riding a five-quarter positive earnings streak, and the stock is up +28% year to date (only +13% from a year ago). The stock enters its earnings date in the middle of the road: with a Zacks Rank #3 (Hold) and a Value-Growth-Momentum score of C.More By This Author:Big Quarterly Beats After the Bell: AAPL, SQ, COIN & MoreMarkets Sink After Powell Presser; Big Earnings Post-BellMarkets Close April Lower Ahead Of Fed, Q1 Earnings

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