Equity futures sank on Friday morning
Ichimoku Kinko Hyo NZD/JPY: The NZD/JPY pair is now testing the Tenkan Sen level…
Reporting today: J&J and P&G
Information is not investment advice
Johnson&Johnson and Procter&Gamble report theri earnings today at 15:30 MT. That's right before the US session market open. Hence, there may be big moves on behalf of these stocks - depending on the performance that either company brings. What are the expectations?
Johnson&Johnson
Expected EPS $2.44 per share, expected revenue $22bln.
A lot of observers expect Johnson&Johnson to bring performance that will be slighly weaker than the above consensus. Against a wide-spread belief, the single-shot vaccine developed by J&J that was started to roll-out in March is a non-for-profit product that is not expected to drive the stock price much in any direction. In addition to that, its production is facing some challenges, although it's been approvied for use in Europe. Therefore, the forecasts are pretty dim for this stock. 161.50 is a support level which may see the stock drop is the results are weak. 164 is a possible target for bulls if it manages to bringer brighter outlook.
Procter&Gamble
Expected EPS $1.19, expected revenue $17.9bln.
Analysts are generally positive about this stock as the P&G's revenue is expected to grow at least 4% compared to the previous year. The main drivers for that growth are its core products such as Tide, Charmin and Bounty, all of which saw positive dynamics during the previous three months. Technically, if the company meets the market's expectations, the stock price may well surge above the local highs of 137.75. Otherwise, the support of 136.50 will likely see it go down.
Remember you can trade these stocks in FBS Trader!
Gaspar Markosyan
Similar
USDJPY continues to be below the 110.00 area
Ichimoku Kinko Hyo NZD/JPY: The NZD/JPY pair is trading within the cloud…
Gold exploded after FOMC meeting!
As we discussed in the previous article devoted to gold, the price is growing extremely fast after a dovish FOMC’s statement…
Popular
Time to Sell AUD
The Reserve Bank of Australia will hold a meeting on August 3. Analysts expect a dovish move, which may send the AUD down.
Equity futures sank on Friday morning
Ichimoku Kinko Hyo NZD/JPY: The NZD/JPY pair is now testing the Tenkan Sen level…
USD/JPY: Take Your Profits
USD/JPY declined further during yesterday’s trading, reaching as low as 109.36, while our short signal from 110.20 is still active and is giving us over 80 pips.
Choose your payment system
