1.APPLE : Apple reported third quarter earnings that set a record and beat Wall Street expectations.
Apple announced earnings per share of $1.30 on revenue of $81.43 billion. Analysts polled by Investing.com anticipated EPS of $1.01 on revenue of $73.26 billion.
Apple shares are up 10% from the beginning of the year, still down 2.14% from its 52 week high of $149.98 set on July 15. They are under-performing the Dow Jones which is up 14.55% from the start of the year.
Apple shares gained 0.29% in after-hours trading Tuesday following the report.
Consumers snapped up new iPhones and other devices during the spring quarter, pushing revenue 36% higher on pace for its best fiscal year, according to analysts. Sales of iPhones rose 33%, to $39.6 billion.
Apple’s report follows an earnings beat by Microsoft on Tuesday, who reported EPS of $2.17 on revenue of $46.15B, compared to forecasts EPS of $1.91 on revenue of $44.06B.
2.GOOGLE:- Google parent Alphabet reported second quarter earnings that beat analysts’ forecasts and revenue that topped expectations.
Search giant Alphabet announced earnings per share of $27.26 on revenue of $61.88 billion. Analysts polled by Investing.com anticipated EPS of $19.24 on revenue of $56.19 billion.
Alphabet shares are up 50% from the beginning of the year, still down 1.81% from its 52 week high of $2,687.20 set on July 27. They are outperforming the Nasdaq 100 which is up 16.05% from the start of the year.
Alphabet shares gained 2.64% in after-hours trade following the report.
Advertising revenue for its YouTube segment was $7 billion, more than the $6.4 billion expected by analysts. Total Google ad revenue jumped 69%, to $50.4 billion. Cloud revenue also topped expectations, at $4.6 billion.
Alphabet A follows other major Communication Services sector earnings this month
Alphabet’s report follows an earnings beat by Alphabet C on Tuesday, who reported EPS of $27.26 on revenue of $61.88B, compared to forecasts EPS of $19.33 on revenue of $56.19B.
Verizon had beat expectations on July 21 with second quarter EPS of $1.37 on revenue of $33.8B, compared to forecast for EPS of $1.3 on revenue of $32.77B.
3.TESLA:-Tesla Inc showed signs this week of divergent strategies in the world’s two biggest automotive markets, raising prices to boost profit margins in the United States while keeping prices steady in China and hoping to grow sales there.
Tesla raised prices for the most affordable versions of Model 3 and Model Y about a dozen times this year in the United States, according data tracked by Reuters. At the same time, Tesla recently introduced an affordable Model Y version in China, where it refrained from price cuts.
Tesla posted record vehicle deliveries in the second quarter, and the price increases in North America boosted quarterly profits to a record.
But in China, the world’s biggest electric vehicle (EV) market, Tesla faces fierce competition from local rivals and problems that include product recalls, high-profile protests by consumers and pressure from regulators.
Bernstein analyst Toni Sacconaghi said introduction of the lower-priced Model Y in China “may make sustained margin improvement difficult” for Tesla and raises questions about “the health of Chinese demand.”
A study by Bernstein analysts found Tesla owners in China were less enthusiastic and had lower repurchase intentions than owners in the United States and Europe.
Tesla raised prices for Model Y Long Range at least six times in the United States this year, bumping by $5,500 to $53,990. In China, the world’s most valuable carmaker raised prices of the Model Y SUV and Model 3 sedan only once this year.
4.WALMART:– Walmart-owned Flipkart has asked India’s Supreme Court to restrain the country’s antitrust body after it asked sensitive questions in what the firm called an “invasive” investigation of its e-commerce operations.
The request, in a court filing more than 700 pages long that has not been made public, illustrates the e-commerce giant’s level of concern over the investigation, which has prompted public spats between U.S firms and the Indian government.
In its investigation, which includes Amazon.com Inc , the Competition Commission of India (CCI) sought a list of Flipkart’s top sellers, online discounts and pacts with smartphone makers, among 32 questions it asked on July 15.
Flipkart told the Supreme Court the details sought reinforced its fear of the “invasive nature” of the investigation, and asked it to put on hold both the information request and the overall investigation.
“The information sought…is sensitive in nature,” Flipkart said in the court document, adding that such investigations could have serious consequences on its reputation and goodwill.
The antitrust body also sent a request for information to Amazon in the investigation, said a source who sought anonymity because of the sensitivity of the matter.
Flipkart, Amazon and the CCI did not immediately respond to a request for comment.
.5.VISA –Visa A reported on Tuesday third quarter earnings that beat analysts’ forecasts and revenue that topped expectations.
Visa A announced earnings per share of $1.49 on revenue of $6.13B. Analysts polled by Investing.com anticipated EPS of $1.34 on revenue of $5.85B.
Visa A shares are up 14% from the beginning of the year, still down 0.67% from its 52 week high of $252.61 set on July 27. They are under-performing the Dow Jones which is up 14.55% from the start of the year.
Visa A shares lost 1.17% in after-hours trade following the report.