More U.S. Companies To Post Their Results This Week

This week firms such as Johnson & Johnson, Abbott Laboratories, Lockheed Martin, General Electric, Microsoft and Netflix are expected to release their earnings for the season. Results from some banking giants in the United States that are yet to report including Goldman Sachs, Bank of America and Morgan Stanley are also expected this week. Also expected are results from credit card firms and top retail brokerages.

Abbott Laboratories and Johnson & Johnson are expected to release results from their second quarter on Thursday and Tuesday respectively. In that period analysts are of the view that Johnson and Johnson will report sales of $18.9 billion which will be an increase of 2.3%. The drugmaker is also expected to post earnings per share of $1.79 and this will be an increase of 2.9%. Abbott’s sales are expected to increase by 24% to reach a figure of $6.62 billion. The earnings per share of the pharmaceutical firm are expected to increase by 9% and reach a level of $0.60.

Defense contractor

Analysts expected earnings of defense contractor Lockheed to fall by 7% to a level of $3.09 a share. Revenues for the defense contractor are also expected to slip by 3.5% to a figure of $12.47 billion. It is also expected that the defense contractor will provide more information on the rising costs of the F-35 jet. This comes at a time when the U.S. Air Force is slowing its procurement schedule.

Earnings per share for General Electric are expected to fall by 51% to a level of $0.25. Profit for the industrial conglomerate is also expected to drop to $29.14 billion, a decline of 13%. This will be the first time General Electric will be releasing a financial report following the naming of a new chief executive officer, John Flannery.

Corporate restructuring

Expectations for Microsoft are that the software giant will post modest growth in earnings and sales in its fourth quarter results on Thursday after the market closes. Investors will be especially keen as a recent corporate restructuring exercise saw the software giant retrench 3,000 employees in order to place more emphasis on cloud computing. Nevertheless analysts expected Microsoft to report a 3% increase in earnings per share. Sales are also expected to rise to $24.26 billion, an increase of 7%.

Netflix will be releasing an earnings report for its second quarter after the market closes on Monday. Expectations are for the streaming giant to post a 78% increase in earnings per share as sales rise by 31%. This comes amidst an increase in the number of subscribers.

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