Time: 2024-07-24
Tesla ( TSLA ) shares remained steady in pre - market trading after a 5 % increase on Monday ahead of the company 's second - quarter earnings report . Analysts anticipate a 0.9 % year - over - year decline in profit margins to 4.7 billion due to delivery challenges , with earnings per share projected to drop 41 % to sh.46 . CEO Elon Musk announced plans for humanoid robots for internal use in 2025 , with hopes for high production by 2026.
Google parent company Alphabet is expected to report double - digit revenue growth fueled by advertising . The company 's stock is near all - time highs , benefiting from strong Search and YouTube revenue . Despite scrapping plans to remove user - tracking cookies , Alphabet 's talks to acquire cybersecurity startup Wiz for 3 billion have ended . Investors await Louis Vuitton 's earnings to gauge consumer demand in China amid unexpected rate cuts.
Spotify is set to report its second - quarter earnings , with analysts predicting revenue of 3.81 billion , a significant increase from the previous year . The music streaming company is expected to achieve profitability on an adjusted basis , reflecting its commitment to expanding gross margins . With an increase in total monthly active users and premium subscribers , Spotify 's stock has surged over 50 % this year.
International Business Machines ( IBM ) stock rose after an analyst recommended buying ahead of the earnings report . Analysts expect earnings of .17 per share for the quarter , with sales slightly up . IBM has exceeded earnings expectations for five consecutive quarters , with a positive outlook on its software business mix . Goldman Sachs analyst James Schneider rates IBM stock at Buy with a 00 price target .
The second - quarter earnings season is in full swing , with high - profile companies like Enphase Energy , Spotify , and Chipotle Mexican Grill expected to make significant stock moves based on their results . Enphase Energy leads the list with an 11.9 % expected move , followed by Spotify and Chipotle . Tesla and Alphabet are also anticipated to have notable post - earnings moves , with Tesla having an 8.2 % expected move and Alphabet with a 5.5 % implied move , which could impact the overall market . Analysts remain divided on Tesla , with 22 out of 50 analysts having buy or strong buy ratings , while Spotify is favored by 26 out of 36 analysts with a positive outlook on the stock.
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