Which US Companies Will Report This Week? Part 2: NextEra Energy, Verizon, Intel, AT&T
4 minutes for reading
Let’s go on reviewing quarterly reports of US companies. On Wednesday, April 21st, and on Thursday, April 22nd, reports were presented by NextEra Energy, Verizon, Intel, AT&T – and I’ll speak about them below.
Quarterly reports on April 21st, 2021
On Wednesday, the financial [performance of Q1, 2021 was presented by NextEra Energy and Verizon.
NextEra Energy (NYSE: NEE) report
The leading clean energy producer of the USA reported on Wednesday; analysts had a mixed impression. On the one hand, the results were positive, and the return on stock turned out even higher than expected. On the other hand, the revenue was over $1 billion less than expected.
Important report details:
- Revenue: $3.73 billion (forecast: $4.9 billion).
- Return on stock: 67 cents (forecast: 58 cents).
- Net profit: $1.33 billion against $1.17 billion last year.
Market reaction and forecasts
After the report was published, the shares of the company dropped. The decline happened in the form of a correction in an uptrend. The aim of the decline might be the lower border of the channel and the 200-days Moving Average.
Upon testing the support level, the quotations might bounce off it and go on developing the uptrend. However, they might still break through the 200-days MA and decline to $70.00.
Verizon (NYSE: VZ) report
The US communication giant has been exceeding expectations for 4 quarters in a row. The main risk of the sector is the overall switching to 5G technology. Its introduction requires additional expenses from corporations, which impede their development.
Important report details:
- Revenue: $32.87 billion (forecast: $32.44 billion).
- Return on stock: $1.31 (forecast: $1.29).
- Net profit: $5.4 billion against $4.3 billion last year.
Market reaction and forecasts
Regardless of the report being quite positive, the shares of the company keep losing positions. The current aim is the 200-days Moving Average. Later, upon breaking the indicator line, the price might continue declining to the lower border of the ascending channel, presumably aiming at $55.00. After the test of the support level, the quotations might keep on with the uptrend.
Quarterly reports on April 22nd, 2021
On Thursday, April 22nd, 2021, the reporting process continued. Among other companies, their corresponding results were presented by AT&T and Intel.
Intel (NASDAQ: INTC) report
In Q1, 2021, the revenue and return on stock of the company exceeded expectations, but the net profit dropped, compared to the same period of 2020. As for Intel, don’t forget that the revenue of the company has been declining (though very slowly) for three quarters in a row and that the management hasn’t yet solved the problem with the shortage of their own producing powers for chip production, while the demand for chips all over the world keeps growing.
Important report details:
- Revenue: $19.67 billion (forecast: $17.78 billion).
- Return on stock: $1.39 (forecast: $1.14).
- Net profit: $3.4 billion against $5.66 billion last year.
Market reaction and forecasts
The quotations of Intel dropped noticeably with all the news. They have broken through the lower border of the ascending channel and keep declining. The aim of the falling might be the support level of $58.30.
Upon testing the support level, the price might bounce off it and go on developing the uptrend. For now, the quotations remain above the 200-days MA, which means buyers are dominating. The current decline might be another correction before further development of the uptrend.
AT&T (NYSE: T) report
On Thursday, the results of Q1, 2021 were presented by another giant of telecommunications – AT&T. The company reported an increase in the number of users of the wireless network, noticeable growth of the number of subscribers of HBO and HBO Max, and an increase in the number of users of wired Internet. Working in both communications and entertainment, the company obviously flourishes.
Important report details:
- Revenue: $43.94 billion (forecast: $42.7 billion).
- Return on stock: 86 cents (forecast: 78 cents).
- Net profit: $7.5 billion against $4.6 billion last year.
Market reaction and forecasts
After the report was published, the quotations sky-rocketed and renewed the highs. The quotations keep going inside the ascending channel. After a gap is formed, there are chances for a correction and for the gap to get covered up.
The decline might happen as a part of the correction wave towards $30.50. After the pullback, the shares might continue developing the uptrend. The aim of the growth will be $33.00.
