Commentary: Paul Ebeling on Wall Street (Risk On Update)

Commentary: Paul Ebeling on Wall Street (Risk On Update)

$DIA, $SPY, $QQQ, $RUTX, $VXX

About 20% of S&P 500 members reported earnings this week, and on balance they have beaten expectations. That has persuaded investors US companies are weathering the trade storm and reminded them slowing global growth is not the same as no global growth, or Risk On!

Stay tuned…

The Big Qs: Was Friday’s Action a Breakout and will this Rally extend?

The Big A: Yes, if investors come off of the sidelines on positive earnings results and forward estimates.

This week of the 30 DJIA components are scheduled to report their latest Quarterly reports.

The DJIA is just off its all-time high, earnings season is now full swing, and some investors may be looking to come off of the sidelines if this pattern holds up.

Here is a preview of those DJIA companies scheduled to report Quarterly results this week including the consensus earnings estimates plus the stock price and trading history.

Walgreens Boots Alliance Inc. (NASDAQ:WBA) will report its latest Quarterly earnings before Monday’s open. The consensus forecast is 1.41 EPS and $33.89-B in revenue. Shares ended last week at 55.42, in a 52-wk range of 49.03 – 86.31. The consensus analyst target is at 57.14.

Pfizer Inc. (NYSE:PFE) is scheduled to post its Quarterly report early Tuesday. The consensus estimates are 0.62 in EPS on $12.26-B in revenue. Shares were trading at 36.77 Friday at the close. The stock has a 52-wk range of 33.97 – 46.47, and the consensus price target is at 41.45.

Merck & Co. Inc. (NYSE:MRK) will report its latest Quarterly earnings before Tuesday’s open. The consensus estimates call for 1.24 in EPS and $11.63-B in revenue. Shares were last seen trading at 82.26, in a 52-wk range of 68.88 to 87.35. The consensus analyst target is at 95.93.

Apple Inc. (NASDAQ:AAPL) is expected to report its F-Q-4 results late Wednesday. The consensus analyst estimates are 2.84 in EPS and revenue of $62.91-B. Shares of Apple closed at 246.58 Friday. The consensus price target is just 234.00, and the 52-wk trading range is 142.00 – 246.58.

Friday, Chevron Corp.’s (NYSE:CVX) Q-3 results are due. The consensus estimates are 1.45 in EPS and $37.69-B in revenue. Shares were last seen trading at 118.67. The consensus price target is 137.46, and the 52-wk trading range is 100.22 – 127.34.

Exxon Mobil Corp. (NYSE:XOM) to report its most recent Quarterly results Friday too. Analysts are looking for EPS of 0.67 and $64.79-B in revenue. The shares closed Friday at 69.25. The consensus price target is 79.14, and the 52-wk trading range is 64.65 – 83.75.

Have a terrific week

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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