Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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?
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.
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!
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