Earnings season is in full swing and other tech giants are expected to report results in the new week, as investors look for clues about how companies are financing the artificial intelligence boom. About 160 S&P 500 companies will report quarterly results this week, including Alphabet, Microsoft and Amazon. Boeing will report following the long-delayed certification of the 737 Max 10, as will billion-dollar pharmaceutical giant Eli Lilly. Growing concerns about corporate spending on artificial intelligence dominated market sentiment last week, triggering a selloff on Thursday that resulted in the Nasdaq Composite’s worst session since June. Quarterly results so far have been strong. More than 120 S&P 500 companies reported earnings on Friday, with about 83% beating earnings expectations, according to FactSet. All times ET. On Tuesday, Coca-Cola is expected to report results before the opening bell. Management will hold a conference call at 8:30 a.m. Final quarter: KO’s double beat was fueled by increased exposure from the World Cup. The food and beverage giant also raised its full-year guidance. This quarter: According to LSEG, analysts expect modest year-over-year growth in earnings and revenue, at 7.4% and 4.1%, respectively. What to watch: After KFC announced it was dropping PepsiCo products in favor of Coca-Cola offerings in its U.S. stores earlier this month, Bank of America analyst Peter Galbo called the deal “further positive evidence of KO’s U.S. restaurant business and the strength of its brands.” Marriott also recently switched from Pepsi to Coca-Cola, Galbo noted in the note. What the story shows: Data obtained from Bespoke Investment Group shows that Coca-Cola has not missed its earnings estimates since 2017. Shares are also higher, on average, after the company’s reports. Boeing will release its results before the bell, with a conference call scheduled for 10:30 a.m. Last quarter: BA reported a larger-than-expected adjusted loss, partly due to the prolonged delay of new Air Force One planes. This quarter: Analysts only expect revenue growth of 2.5% compared to the same period last year, according to LSEG data. What to watch: Boeing won FAA approval for the 737 Max 10 after years of delays last week. Following the certification, Transportation Secretary Sean Duffy told CNBC that the United States needs to improve the speed at which it certifies jets. What the story shows: Profits produced mixed results for Boeing last year, according to Bespoke. Shares rose after the last two earnings reports, but fell the previous three. Robinhood Markets is scheduled to report earnings after the bell, followed by a conference call at 5 p.m. Latest Quarter: HOOD’s event contract revenue was $156 million in the second quarter. In June, Robinhood launched Rothera, an exchange licensed by the Commodity Futures Trading Commission and operated through the brokerage’s joint venture with Susquehanna International Group. This quarter: Analysts expect divergent earnings and revenue results, according to LSEG data, with earnings growth down more than 9% but revenue up more than 11% year-over-year. What to watch: Rosenblatt recently initiated coverage of Robinhood with a buy rating, saying the trading platform has “one of the best growth stories in the financial industry.” By introducing a new generation to investing, “few companies can claim to have changed an entire industry, but Robinhood can,” wrote analyst Chris Brendler. What the story shows: Earnings season has historically not been kind to Robinhood, according to Bespoke data. Shares of the online investment platform fell more than 2.2% on average in the day following the results, including the last six releases. That gives it a tailored earnings score of 25/100, well below the average of 50. On Wednesday, Alphabet is scheduled to report earnings after the bell on Wednesday, followed by a conference call at 4:30 p.m. Latest Quarter: GOOGL’s revenues beat expectations, but its shares fell after the company said it was raising its investment guidance for the year, acknowledging a “constrained supply environment.” This quarter: Analysts expect Google’s parent company to continue benefiting from the AI boom with revenue growth of about 25% from last year, according to LSEG data. What to watch: BMO Capital Markets said recent AI model releases have “helped allay concerns that GOOGL was lagging behind in cutting-edge model intelligence.” What the story shows: Historically, Alphabet shares have gained nearly 1.3% on average following earnings releases, according to Bespoke. Ford Motor is expected to report earnings after the bell, with a conference call at 5 p.m. Latest Quarter: F raised its full-year profit forecast despite a drop in revenue, highlighting a strong mix of profitable product sales. This quarter: According to LSEG, analysts expect a slowdown at the automaker, including a slight decline in revenue growth. What to watch: Wolfe Research presented a “cautious setup” for Ford earnings due to a “production shutdown” this quarter, reporting lower-than-expected earnings but noting that CEO Jim Farley said the slowdown likely wouldn’t affect full-year guidance. What History Shows: According to Bespoke, Ford beats earnings and revenue estimates 70% and 77% of the time, respectively. Microsoft is expected to release earnings after the close, followed by a conference call at 5:30 p.m. Latest Quarter: MSFT shares rose amid the software giant’s report of 18% year-over-year revenue growth and a $3.2 billion gain from an investment in Anthropic. This quarter: LSEG data shows analysts forecast earnings growth of 14.3% and revenue growth of 16.8% on an annual basis. What to watch: Piper Sandler said investors are becoming positive on the stock due to Azure’s continued acceleration and an enhanced AI strategy. “Our third-quarter partner checks were strong, with MSFT’s bottom line rising and demand for prepackaged AI solutions leading the way,” wrote analyst Billy Fitzsimmons. What the story shows: Tailored data shows that Microsoft has doubled every quarter since April 2023 and that MSFT shares have risen on average after earnings reports. Thursday Caterpillar is expected to report results before the bell on Thursday, with a conference call at 8:30 a.m. Latest quarter: CAT beat estimates as data center construction increased demand for its electricity and construction equipment. This Quarter: The Street forecasts dramatic earnings and revenue increases of over 43% and over 17%, respectively, from LSEG. What to watch: In lowering the price target on Caterpillar shares, Bank of America’s Michael Feniger highlighted investor concerns about “spiking delinquencies, higher rates and (and) power (equipment) risks” this quarter. What the story shows: Shares of the industrial giant rose after last quarter’s earnings, and have continued to rise after the last six reports. Eli Lilly will release its results before the bell, during a conference call at 10 a.m. Latest Quarter: LLY significantly beat estimates and raised its full-year outlook following the breakout success of its GLP-1 and diabetes drugs. This quarter: LSEG data shows expectations for profit growth slightly lower than the same period last year, but revenue growth above 28%. What to Watch: According to Goldman Sachs, the Street will be closely watching commentary on the pharmaceutical giant’s full-year guidance as Mounjaro and Zepbound continue to shine. “Our conversations with investors indicate that many anticipate a hike in FY26 guidance with a higher-than-consensus high end likely needed to satisfy bullish expectations,” analyst Asad Haider wrote. What History Shows: According to Bespoke, Lilly beats earnings and revenue estimates almost 70% of the time. This includes a double beat in each of the final seven quarters. Amazon.com is expected to report earnings after the bell, followed by a conference call at 5 p.m. Last quarter: AMZN benefited from the AI boom, with strong cloud growth leading to a double beat. This quarter: Amazon’s earnings per share are expected to remain relatively stable alongside double-digit annual revenue growth, according to LSEG data. What to watch: Jefferies has a positive view of the e-commerce giant, calling the stock “attractive” and a “discount” alternative to Alphabet and Walmart. “AWS isn’t done accelerating yet and AMZN ecom/retail has continued to positively surprise despite cautious consumer sentiment,” writes analyst Brent Thill. What history shows: Amazon’s results exceeded expectations 72% of the time and 66% of the time, respectively, according to Bespoke. Intel is expected to report earnings after the bell, also hosting a conference call at 5 p.m. Last Quarter: INTC beat analysts’ expectations, reporting its strongest quarterly revenue growth since 2011. This Quarter: According to LSEG data, analysts expect 70.3% earnings per share growth and 20.5% year-over-year growth. What to watch: UBS said it sees a strong revenue outlook, pointing to strong but slowing demand. However, analyst Timothy Arcuri noted that Intel said “demand continues to outstrip supply.” According to Arcuri, “the near-term setup is pretty strong,” with the chipmaker on the right track. What History Shows: Tailored data shows that stocks historically fall an average of 1.36% after earnings releases.
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