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Tesla earnings in focus; Southwest Airlines sinks; Costco's battle with Amazon

Seana Smith
·Host

Tesla (TSLA) – The electric car maker is scheduled to report third-quarter earnings after the bell Wednesday. Analysts are expecting adjusted earnings per share of 9 cents on revenue of $2.35 billion. That’s up from $1.24 billion one year ago. An important thing to watch in the report will be any update on Tesla’s delivery forecast. Tesla is expecting to deliver 50,000 vehicles in the second half of the year and 500,000 by 2018.

Costco (COST) – Morgan Stanley is out with a research note that says Amazon is not hurting Costco, saying that its AlphaWise survey suggests the company is equipped to handle Amazon’s threat. Morgan Stanley’s survey found that “94% to 95% of surveyed Prime/Costco members intend to renew their memberships, which speaks to high loyalty and low churn.”

Southwest Airlines (LUV) – The airline fell short of revenue expectations in the third quarter after suffering from a technology outage and lower fares. Southwest is warning that a key revenue metric, unit revenue, is expected to drop 4% to 5% in the current quarter, following a 4.1% drop in the third quarter.

Boeing (BA) – The company topped profit estimates in the third quarter and lifted its sales forecast for 2016. Boeing now expects to deliver between 745 and 750 jetliners this year, up from its original forecast of 740 to 745.

Biogen (BIIB) – The company topped Wall Street’s earnings forecast for the third quarter, reporting earnings per share of $5.19 on revenue of $2.96 billion. Sales of Biogen’s biggest drug, Tecfidera, rose 10% during the quarter to$1.03 billion.