Tesla, Boeing, UPS highlight earnings rush: What to know this week

Published On Oct 20, 2024, 7:32 AM

Investors are looking forward to a busy earnings week highlighted by reports from major companies like Tesla, Boeing, and UPS. Last week, stock markets saw gains led by the Dow Jones reaching new highs, spurred by strong earnings from tech companies such as Netflix. As of now, 79% of S&P 500 companies have exceeded earnings expectations this quarter. This week, earnings reports from numerous significant players are expected to further influence the market, amidst an ongoing shift from large tech stocks to sectors like utilities and real estate. Tesla's earnings release on Wednesday is particularly anticipated following their recent robotaxi unveiling, but there are concerns about the practicality of their new vehicle developments. Overall, investors remain watchful of economic indicators and consumer sentiment as they navigate this earnings-rich environment.

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Stock Forecasts

TSLAView TSLA chart on TradingView

Positive

With Tesla's strong delivery figures and potential margin improvement, the stock could see a positive reaction to its upcoming earnings report despite some skepticism around future growth strategies.

BAView BA chart on TradingView

Negative

Concerns about Boeing's cost increases due to recent labor strikes and its uncertain delivery schedules suggest a negative outlook for the stock in the near term, especially as it reports earnings this week.

UPSView UPS chart on TradingView

Neutral

UPS may face mixed performance prospects as it navigates the ongoing changes in consumer behavior post-pandemic and competition in logistics, leading to a potential neutral direction in its earnings report.

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