Stocks To Watch: Earnings Blitz Includes Netflix, Tesla, AT&T, Philip Morris, And Twitter

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Earnings reports will dominate the week as big names like Bank of America (BAC), Netflix (NFLX), Tesla (TSLA), and Twitter (TWTR) report amid plenty of drama. While investors have already baked into share prices that the earnings season will show some disappointments and downward revisions, the latest reads on consumer demand, labor shortages, and supply chain issues will still be critical. The economic calendar next week includes updates on housing starts, existing home sales, and the Philadelphia Fed Manufacturing Index. Federal Reserve speakers will be in a blackout period ahead of the FOMC meeting on July 26-27, but futures trading on fed funds contract will be closely watched with the odds for a 100-point hike gyrating wildly. On the corporate calendar, Nikola (NASDAQ:NKLA) stockholders will vote again on issuing more shares and GameStop’s (NYSE:GME) four-of-one stock split will became effective at the very end of the week.


Earnings spotlight: Monday, July 18 – Bank of America (BAC), IBM (IBM), and Goldman Sachs (GS).

Earnings spotlight: Tuesday, July 19 – Johnson & Johnson (JNJ), Lockheed Martin (LMT), Netflix (NFLX), Hasbro (HAS), Silvergate Capital (NYSE:SI), and

Earnings spotlight: Wednesday, July 20 – Tesla (TSLA), Abbott Laboratories (NYSE:ABT), CSX (NASDAQ:CSX), Las Vegas Sands (LVS), Biogen (NASDAQ:BIIB), and United Airlines (UAL).

Earnings spotlight: Thursday, July 21 – AT&T (T), Philip Morris International (PM), Travelers Companies (TRV), Domino’s Pizza (NYSE:DPZ), Union Pacific (UMP), Snap (SNAP), and

Earnings spotlight: Friday, July 22 – Verizon Communications (VZ), American Express (AXP), Twitter (TWTR), and HCA Healthcare (HCA).

IPO watch: The analyst quiet period expires on Golden Sun Education Group (GSUN) on July 18. The IPO lockup expires on the same day on Yoshitsu (TKLF).

Farnborough Air Show: The global aviation industry will be watching for headlines out of the Farnborough International Airshow. Boeing will demonstrate the 737 MAX 10 in a flying display and the newest 777X widebody. The company will also highlight developments with sustainable, autonomous flight, and the eVTOL Wisk Aero joint venture. Airbus will present the A350-900 widebody capabilities in a daily flying display and could also announce a deal with Delta Air Lines (DAL) for more A220 narrowbody planes. Other companies due to make appearance at the air show include NI (NATI), Ansys (NSS), Lockheed Martin (LMT), Rolls-Royce (OTCPK:RYCEY), and BAE Systems (OTCPK:BAESF). Also watch for Boom Supersonic, which recently won commitments from United Airlines (UAL) for its Overture passenger supersonic jet last year that has a proposed Mach 1.7 speed and 4,250 nautical miles of range,

Philip Morris International earnings preview: Philip Morris International (PM) will report earnings on July 21 to expectations for revenue of and EPS of. CFO Emmanuel Babeau noted at a recent investor conference that the underlying fundamentals remained strong, underpinned by the continued growth of IQOS and robust category share. Looking ahead, PM plans on broadening its vapor portfolio, with the second half launch of the VEEBA disposable evapor product. Guidance from PM will take into account the latest Russia/Ukraine situation, global inflation pressures on consumers and a stronger U.S. dollar than was seen during the last update. Bank of America believes investors are largely looking at the underlying business, which it sees as strong with upside potential. “In addition, we like its attractive yield, strategy to shift smokers to higher margin, less harmful alternatives, partly offset by near term issues in E. Europe,” updated the firm.

Netflix earnings preview: Netflix (NFLX) will report Q2 earnings after the closing bell on July 19. Consensus estimates are for Netflix (NFLX) to report $8.0B in revenue and show EPS of $2.96. Analysts are also calling for -1.9M paid subscriber additions even with Stranger Things season four working in its favor. “For 3Q, our informal polling of select institutional investors suggests many believe 3Q sell-side targets may be too high and guidance could come in below Street estimates of +2.2mn adds,” warns Morgan Stanley. There is also some concern that F/X will negatively impact results for Netflix with the company being unhedged. Meanwhile, UBS expects a cautious guide from NFLX management even though the back half is typically seasonally stronger. The firm forecasts 1.3M subscribers to be added in Q3 and 2.8M for the year. “We expect net adds in ’23 to bounce back to 9.5M (prior 11.5M) with a new ad-supported tier helping, but competition & pressure on consumer wallets could drive downside,” noted analyst John Hodulik. During the Netflix earnings call, look for color on the new ad sales and marketing partnership with Microsoft (MSFT).

Corporate events: Nikola (NKLA) shareholders are scheduled to vote on July 18 on Proposal 2 to increase the number of outstanding shares to 800M from 600M. Microsoft (MSFT) holds its two-day Inspire event on July 19-20 to focus on the opportunities in the cloud for partners. The Bloomberg Crypto Summit will take place in New York on July 19 Speakers include representatives from FTX, Tezos (XTZ-USD), Ripple (XRP-USD), Binance, and Coinbase Global (COIN). One of the more intriguing sessions will cover Web 3.0, the Metaverse and Blockchain Gaming potential. Amid growing questions about consumer spending and a potential trade-down effect, the National Retail Federation will hold a webinar on July 19 to discuss consumer spending expectations for the 2022 back-to-school and college shopping season. The event will highlight NRF’s latest consumer data. and could be noteworthy for major retail chains like Walmart (WMT), Target (TGT), Costco (COST), Dollar General (DG), and Dollar Tree (DLTR). Capri Holdings Limited (NYSE:CPRI) will host an Investor Day event on July 20 with presentations and a question and answer session with the management team. Execs from the Versace, Jimmy Choo and Michael Kors businesses will give talks. Eliem Therapeutics (NASDAQ:ELYM) and Creatd Inc. (NASDAQ:CRTD) have investor events scheduled for July 21. Read more about the events that could impact shares prices next week in Seeking Alpha’s Catalyst Watch.

Stock splits: GameStop (GME) will begin trading on a split-adjusted basis on July 22.

Box office preview : Disney’s (DIS) Thor: Love and Thunder is expected to top the weekend box office for a second time in a row with a haul of around $50M. Paramount’s (NASDAQ:PARA) Paws of Fury: The Legend of Hank and Sony Picture’s (SONY) Where the Crawdads Sing hope to shake up what has been a tentpole heavy summer. Netflix (NFLX) is running out spy film The Gray Man in 450 theaters in U.S. and Canada.

Barron’s mentions: The publication sees an opportunity in apartment REIT stocks with home prices and mortgage rates on the rise. Apartment REITs are noted to be trading at a 21% discount to the value of their underlying assets, compared to 3% a year ago. The recommendation is to look at large-cap REITs with strong balance sheets, good management teams, and safe dividends with a focus in geographic areas of the country seeing strong apartment occupancy rates. AvalonBay Communities (NYSE:AVB), Equity Residential (NYSE:EQR), Camden Property Trust (NYSE:CPT), Mid-America Apartment Communities (MAA), Apartment Income REIT (NYSE:AIRC), and UDR (UDR) all make the list.

Sources: EDGAR, Bloomberg, CNBC, Reuters,

Editor’s Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.

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