Ahead of Wall Street - April 24, 2012 - Ahead of Wall Street
April 24 2012 - 4:49AM
Zacks
Tuesday, April 24, 2012
Positive earnings results from a number of blue chip companies
should help sentiment as the market waits for a number of major
economic releases a little later. The March New Home sales numbers
are expected to edge up a little from February level, while the
Conference Board’s April Consumer Confidence level is expected to
be around the same level as in March.
But all eyes will be on the Fed, which starts its 2-day meeting
today. The official post-meeting statement from FOMC at noon
Wednesday is not expected to have any surprises, though the
spotlight will be on Ben Bernanke who holds a press conference
Wednesday afternoon. The market will be keenly looking for any
clues to any forthcoming QE-type actions that Bernanke may be
contemplating following the recent run of softer labor market
readings.
On the earnings front, we got positive earnings surprises this
morning from Dow components AT&T (T),
3M Company (MMM) and United
Technology (UTX). AT&T beat earnings
expectations on in-line revenue, though the cellular giant’s
subscriber additions were a little softer than expected. 3M Company
also beat earnings expectations and raised guidance, though its
quarterly revenue matched expectations. Baker
Hughes (BHI) also beat revenue and EPS expectations. After
the close on Monday, Texas Instruments (TXN)
posted better than expected results and guided higher, while
Netflix (NFLX) missed expectations. We have Apple
(AAPL) reporting results after the close today.
Sheraz Mian
Director of Research
APPLE INC (AAPL): Free Stock Analysis Report
BAKER-HUGHES (BHI): Free Stock Analysis Report
3M CO (MMM): Free Stock Analysis Report
AT&T INC (T): Free Stock Analysis Report
TEXAS INSTRS (TXN): Free Stock Analysis Report
UTD TECHS CORP (UTX): Free Stock Analysis Report
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