Amazon, Google to report after the close
Stocks can’t get going as a deluge of companies report mixed results. But can huge after-hours earnings from Amazon and Google parent Alphabet turn the tide? Catch The Final Round at 4 p.m. ET with Alexis Christoforous and markets correspondent Nicole Sinclair.
Winners and losers
Stocks in the red today include Ford, as quarterly profit missed due to higher incentive costs; Rent-A-Center getting creamed on an earnings miss, as well as guidance that was well below forecast; and Boeing, with shares down for a second day in a row as Goldman reiterated its sell rating on the plane maker and slapped a $107 price target on it.
Stocks bucking the tough tape today include beaten down GoPro as the action camera maker reported a revenue beat and reiterated guidance, daily deals site Groupon soaring as profit and sales topped forecasts and it increased revenue and earnings guidance, and Facebook, with shares on fire after a massive earnings beat as mobile ad sales grew and new users came to the platform. Shares closed at a record high.
Facebook betting big on chatbots
Fresh off another record close for Facebook, its Messenger app recently hit an important milestone too: 1 billion users. But what’s behind the success of the app? Joining us now to discuss is Yahoo Finance’s Dan Roberts.
Looking ahead
In the morning, we’ll get a huge read on the economy with a first look at second-quarter GDP. Economists are looking for a 2.6% growth rate, a big bump up from the prior quarter.
The Fed-speak ramps back up with San Francisco Fed President John Williams and the Dallas Fed’s Rob Kaplan speaking tomorrow.
And finally, the big week of earnings rolls on with Exxon Mobil, Merck, UPS, and AB InBev all reporting in the morning.