The $2 trillion earnings day: Google, Amazon and Microsoft top frenzy of reports

27.04.2017 / 13:45

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If you care about corporate earnings, you should cancel any plans for Thursday.

In what will likely be the busiest day of the current earnings season, some of the most prominent and highly valued companies in the world will issue reports Thursday, with the total market capitalization of the companies easily topping $2 trillion and likely approaching $3 trillion.

In fact, just the six largest U.S.-based corporations divulging financial performance from the first calendar quarter top $2 trillion in combined market cap, based on Wednesday’s closing prices: Alphabet Inc. GOOGL, GOOG which justbecame the second $600 billion company in the U.S.; Microsoft Corp. MSFT, worth $524.2 billion; Amazon.com Inc.AMZN, which has jumped more than 21% so far in 2017 for a $434.6 billion market cap; Comcast Corp. CMCSA , worth $183.9 billion; Intel Corp. INTC, valued at $174.2 billion; and Abbvie Inc. ABBV, with a market cap of $103.7 billion. Combined, those companies are worth $2.03 trillion.

That list includes three of the four most valuable tech companies, missing only the most valuable, Apple Inc. AAPL, which plans to report May 2. Apple’s main rival in smartphones will also report Thursday, though it technically arrived Wednesday in the U.S., as Samsung Electronics Co. Ltd. reported earnings before Korean markets opened, posting its best quarterly profit in more than three years. Samsung isn’t even the only Korean electronics giant planning to release earnings Thursday, as LG Electronics Inc. plans a report after trading in that country ends.

Stateside, Comcast and Abbvie will be joined ahead of the bell by Union Pacific Corp. UNP , the railroad company worth $89.4 billion, and another pharmaceutical giant, Bristol-Myers Squibb Co. BMY , worth $88.6 billion. Two airlines, Southwest Airlines Co. LUV and American Airlines Group Inc. AAL, will join the party along with KKR & Co. KKR and Domino’s Pizza Inc. DPZ

After the regular trading session closes, the schedule might be even more packed. Joining tech heavyweights Google, Microsoft, Amazon and Intel is Starbucks Corp.SBUX , the Seattle-based coffee chain valued at $89.7 billion, and Expedia Inc. EXPE. Even smaller tech companies should command interest, like GoPro Inc. GPRO, the Silicon Valley action-camera company that has struggled through a series of gaffes that helped drive its $14 billion market cap down to just $1.3 billion.

Source: Bloomberg

Trader Senan Fuchedzhiev

Varchev Traders

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The $2 trillion earnings day: Google, Amazon and Microsoft top frenzy of reports

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