What we’re reading (4/19)
“Three Stocks Could ‘Set The Tone’ For Earnings Season” (CNBC). “Get ready for an avalanche of earnings in the coming days. IBM, Netflix, Chipotle, Honeywell and Schlumberger are just a sample of the top reports coming out. More than 60 S&P 500 companies and one-third of the Dow are releasing results this week.”
“The Earnings Season Is Great. Investors Are Already Looking Past It.” (Wall Street Journal). “It is shaping up to be a stellar earnings season for stocks, particularly cyclical ones like banks and retailers. The problem is that the market may already be moving on. Because the U.S. economy is emerging from the Covid-19 crisis, most analysts thought first-quarter numbers would be good.”
“Coke Sales Rebound As Vaccinations Roll Out And Venues Open” (ABC News). “Sales are steadily improving at Coca-Cola Co. as vaccinations allow for the opening of stadiums, restaurants and theaters in many regions globally. Coke historically had booked half its sales from restaurants, stadiums and other public places. The pandemic broadsided the company.”
“Oil Supermajors’ Mega-Bet On Natural Gas” (Economist). “Energy companies have no seat at the climate high table convened by President Joe Biden on April 22nd and 23rd, to which he has invited 40 other world leaders to discuss how to speed up the shift from dirty energy. From the sidelines, coal firms will scowl at efforts to curb demand in Asia and oil drillers wince at support for electric cars. Watching particularly closely will be those firms which have bet big on natural gas. As the energy transition gathers momentum, no fuel’s future is smokier than that of the least grubby hydrocarbon.”
“GameStop Loses CEO In Latest Management Shakeup” (Reuters). “GameStop Corp’s George Sherman will step down as chief executive officer in the biggest shakeup at the video game retailer, giving top shareholder Ryan Cohen more control as he leads the company’s shift to e-commerce.”
