Thursday markets one of the year’s busiest day for earnings reports, and will be dominated by news out of tech majors Alphabet, Amazon, and Twitter.
Before the market open we’ll also get the latest weekly report on initial jobless claims, which economists expect will show initial filings for unemployment insurance remained below 300,000 for the 86th straight week.
Pending home sales and durable goods orders for September will round out the day’s economic data.
Earnings Overview
Alphabet, the parent company of Google, grabbed headlines late Tuesday when Bloomberg reported the company would cut 9% of its Google Fiber unit and that its head, Craig Barratt, would depart.
Wall Street is looking for Alphabet to report earnings per share of $8.63 on revenue of $22.1 billion, according to estimates from Yahoo finance.
Retail giant Amazon, notorious in some circles for being light on profit despite massive revenues, is expected to turn a profit of $0.80 per share in the third quarter on revenue of $32.7 billion.
In focus will Amazon’s Web Services business, which brought in revenue of $2.6 billion in the second quarter, up 64% year-over-year.
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