Earnings this week: Meta, Peloton, Starbucks, Apple among companies reporting results
Yahoo Finance Live’s Rachelle Akuffo discusses the earnings to watch for this week.
RACHELLE AKUFFO: Investors are bracing for a busy week ahead with big earnings on deck, and of course, the Fed set to make its next rate decision, of course, expecting that to be 25 basis points, but will be passing through any of the wording that we hear from Fed Chair Powell as well. So as we're taking a look here, we've got Monday.
We've got GE Healthcare, SoFi, Whirlpool, and also taking a look at Caterpillar, ExxonMobil, the energy stocks there. McDonald's will be a good gauge of what we might expect from consumers. Also AMD, we know the chip makers have been under pressure, keeping an eye on that and see how that's impacted their earnings on Tuesday. Taking a look, of course, more tech on Wednesday. You have Meta. And of course, you have the embattled pandemic darling Peloton coming in on Wednesday.
They've tried a number of measures to get more customers on board and focus on subscriptions, going into stores like Dick's Sporting Goods, teaming up with Amazon as well. Speaking of Amazon, we'll see them reporting on Thursday, along with Apple, Alphabet, Starbucks, and carmaker Ford, and also another chipmaker there, Qualcomm, as well. So keeping an eye on a lot of big earnings that might be a good gauge for consumers.
Also a notable week ahead for pharma giant AbbVie. Now the company's dominance over the world's best-selling therapy drug, Humira, is set to end as a new copycat version enters the US market this week. No drug had previously achieved global revenues topping $20 billion before Humira, so this could be a real game changer here.