Ford fumbles after profit miss, Facebook aims for new high

It’s all about earnings on Wall Street. Stocks (^DJI, ^GSPC, ^IXIC) were mixed in early trading as investors mulled over a mixed bag of corporate earnings, including a big beat by Facebook and profit miss by Ford.

Facebook (FB) shares traded at a fresh high in early trading. The social networking giant’s second quarter earnings and revenue rocketed past analysts’ estimates, mobile advertising jumped a whopping 84% and the company added 60 million new users

Ford (F) shares fell in early trading after the automaker posted earnings that came in below Wall Street estimates for the second quarter due to weaker-than-expected sales in the US and China. Ford’s chief financial officer said that after an unprecedented growth streak, the US market is starting to plateau. However, Europe was a bright spot, and overall sales rose 6% from a year ago topping estimates

Whole Foods (WFM) delivered earnings that matched analysts’ estimates while revenue missed forecasts. Same-store sales fell for the fourth consecutive quarter. The company has been struggling to stay competitive in the face of rising competition from traditional supermarket chains.

GoPro (GPRO) reported a smaller-than-expected loss for the second quarter. And even though sales fell 47% from a year ago, revenue also beat expectations. The company said it expects to return to profitability in the fourth quarter.

Google’s parent company Alphabet (GOOGL) is set to report second quarter results after the close of trading today. Investors want to see if it will able to deliver after disappointing results in April. Analysts are looking for the company to earn $8.04 a share. That’s up 15% from the same period a year ago, while revenue is expected to increase 17% to about $17 billion.

Amazon (AMZN) is releasing its second quarter earnings after the closing bell. Analysts expect a very strong quarter from the e-commerce giant. Amazon is expected to have sales of over $29 billion.

Nintendo aims for a power-up
Nintendo is interested in giving its characters a merchandise makeover. It’s looking into ways to make more money with its core characters like Mario brothers and Zelda. One analyst feels Nintendo’s intellectual property can reach full potential in three to five years.

Debt collection overhaul
Debt collectors may face new limits on non-stop phone calls. The Consumer Financial Protection Bureau is proposing a maximum of six calls per week. Around 70 million consumers deal with debt collectors.