Look for a huge number of earnings reports in the coming week with 93 on Monday, 178 on Tuesday, 319 on Wednesday, 397 on Thursday, and 81 on Friday.
Let me pick out a few that have extra significance.
On Tuesday Microsoft (MSFT), Advanced Micro Devices (AMD) and Caterpillar (CAT) report. Microsoft will give us another take on strength/weakness in the Cloud computing segment; Advanced Micro will tell us something about whether Intel’s (INTC) problems in its earnings report this last week are limited to that company and how they might work to the advantage of competitors; and Caterpillar’s guidance will tell us whether the rise in the stock on speculation about an infrastructure package if the Democrats win the White House and Senate on November 3 is backed up with any visible evidence in the company’s business.
On Wednesday, Boeing (BA) reports. Is there any light at the end of the tunnel for the airplane maker?
On Thursday, we hear from Apple (AAPL) about orders for the new iPhone and projections for the all-important December quarter.
On Friday, it’s oil company earnings day with reports from ExxonMobil (XOM) and Chevron (CVX). The two companies have been pursuing different courses in the oil price collapse with Exxon cutting back on capital spending and Chevron continuing to invest for future gains. This quarter’s numbers will give at least a hint on how that strategy has been going and on any prospects for change in direction at either company.
On Saturday, earnings season will take a rest.