Today we are watching…
1. Alphabet (#googl)
Google parent company, Alphabet, is ready to post its earnings today and analysts are leaning cautiously towards a bullish outcome. The company’s stock is up 22% since the start of the year and looks to have had a decent quarter. Its core advertising business is projected to increase by 18%, however, analysts are expecting a slight slowdown in earnings relative to last year which could cause some headwinds for the firm going forward. A number of analyst downgrades ahead of today have thrown a degree of doubt into analysts minds, but the overall feeling is positive…But not overwhelmingly so.
2. Western Digital (#wesdig)
Chip maker, Western Digital, will also be posting its earnings today, but analysts are not feeling too upbeat about its chances at beating estimates. A tough macroeconomic climate, weak PC demand, and lower NAND flash prices look likely to spoil the party at today’s announcement. Moreover, ballooning debt levels and growing competition from companies like Samsung and Intel in the data storage space have made things even harder for the company. The EPS Estimate is $0.47 (-87.1%) on revenue of $3.68bn (-26.4%).