nycshooter
U.S. stock index futures on Wednesday pointed to a rebound for the Nasdaq Composite (COMP:IND) and the benchmark S&P 500 (SP500). The Federal Reserve’s latest monetary policy decision looms later in the afternoon. Here are some stocks to watch on Wednesday:
- Shares of Boeing (BA) gained more than 1% in pre-market trading, after the struggling planemaker named aerospace veteran Kelly Ortberg as its new top boss and president. Otberg, 64, is a former Rockwell Collins executive who is now tasked with the difficult job of turning Boeing’s (BA) reputation around. The Arlington, Va.-based company has been plagued by safety concerns and has been mired in regulatory issues following an incident involving a blown door plug on an Alaska Airlines (AAL) flight in early January. Boeing’s (BA) Q2 results showed a core operating loss of $1.39B, while its revenue slumped 15% Y/Y. See how BA performed in charts.
- Meta Platforms (META) stock will be in focus, with the Facebook-parent scheduled to report Q2 numbers after the closing bell. Wall Street expects the Menlo Park, Calif.-based social media giant to earn $4.78 per share on revenue of $38.31B. Meta (META) is a part of the “Magnificent 7” club, and its performance will be especially in focus after fellow members Tesla (TSLA), Alphabet (GOOG)(GOOGL) and Microsoft (MSFT) disappointed investors with their earnings. Meta’s (META) advertising sales growth will be watched, along with its spending plans on artificial intelligence.
- Shares of Qualcomm (QCOM) will be in the spotlight, ahead of the chip designer’s FQ3 2024 results after market close. Wall Street expects the San Diego, Calif.-based company to earn $2.26 per share on revenue of $9.22B. Qualcomm (QCOM) makes chips that power everything from smartphones to laptops to digital systems in cars and houses. Qualcomm’s (QCOM) makes the bulk of its revenue from smartphones, and that segment’s performance along with comments on demand will garner attention.
- Speaking of smartphones, Arm (ARM) stock is also one to keep an eye on. The British chip designer will be announcing FQ1 2025 figures after the closing bell, in what will be its fourth quarterly report as a public company. Arm (ARM) shares have surged more than 160% from their initial public offering price of $51/share, as the company continues to showcase its strong position in the smartphone market. Arm (ARM), uniquely, supplies a library of blueprints to chip making rivals, and its designs are at the heart of both Apple (AAPL) and Android devices.
More on the markets
Source link
