Earnings Previews: American Express, Chevron, Intel, Visa

In early trading Wednesday, the Dow Jones industrials traded down 0.85%, the S&P 500 down 1.07% and the Nasdaq down 1.61%.

After U.S. markets closed Tuesday, Microsoft reported earnings per share (EPS) that beat the consensus estimate by a penny and missed on revenue. On the conference call, the company said it expects Azure revenue to decline by 4% to 5% in the current quarter. Shares traded down 3.7% shortly after Wednesday’s opening bell.

Texas Instruments missed the consensus EPS estimate by a penny and posted a slightly better-than-expected revenue total. The chipmaker also issued in-line guidance for first-quarter EPS and revenue. Shares traded down about 2.2%.

Before markets opened on Wednesday, ASML reported quarterly results that beat estimates on both the top and bottom lines. For the current quarter, the semiconductor equipment maker guided revenue in line with expectations. For fiscal 2023, ASML issued guided revenue 25% above the consensus estimate and said it expects to raise its dividend by 5.5%. Shares traded down 1.7%, likely because the beat and the outlook were not big enough.

AT&T beat the EPS consensus estimate but missed on revenue and issued downside guidance for fiscal 2023 earnings. The stock traded up by about 6% Wednesday morning.

Boeing missed estimates on both the top and bottom lines. The company reaffirmed operating cash flow and free cash flow guidance for the 2023 fiscal year. Shares traded down about 0.6%.

Freeport McMoRan beat top-line and bottom-line estimates on higher production at the company’s Grasberg mine in Indonesia. Shares traded up 1.4% early in Wednesday’s regular session.

NextEra Energy beat the consensus EPS estimate but missed on revenue. The nation’s largest generator of renewable energy also issued guidance in line with expectations and said it expects to be able to continue increasing its dividend by about 10% annually through next year. Shares traded down about 5.3% early Wednesday.

After markets close on Wednesday, CSX, IBM, Lam Research and Tesla will report earnings. American Airlines, Comcast and Nokia are set to report quarterly results early Thursday.

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Here is a preview of what to expect when these four Dow components report quarterly results late Thursday or Friday morning.

American Express

American Express Co. (NYSE: AXP) has had a 12-month share-price decrease of about 2.3%. From the stock’s peak in mid-February of last year, shares have dropped by about 20%. The company reports fourth-quarter results first thing Friday morning.

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