Wall Street's record followup; Apple earnings preview; Chipotle's GMO-free menu
Wall Street looking to add to Friday's record-setting performances for the S&P 500 (^GSPC) and Nasdaq (^IXIC), with investors gearing up for the after-the-close earnings from the world's biggest company, Apple (AAPL). Also on the radar -- this week's Federal Reserve policymakers' meeting.
Yahoo Finance's Aaron Task feels it's the numbers that will matter most.
"We are in the thick of earnings season, that's going to be the focus," he notes. "I think the Fed meeting is pretty much a non-event at this point, but you never know -- if they change one word (in the statement) we'll be talking about it in a heated way."
Of course, the Yahoo Finance team will be closely following Apple today. Shares are higher in early trading ahead of that report in which analysts are looking for earnings to rise 30% to $2.16 a share, while revenue is seen jumping 23% to $56 billion. The increase in revenue is expected to be driven by strong iPhone sales.
Related: Apple jumps ahead of earnings; Applied Materials merger falls apart; Deutsche Bank overhaul plan
Here’s a look at some of the other stocks the Yahoo Finance team will be tracking for you today.
Marvell Technology (MRVL) shares are falling in early trading. The chipmaker warning late Friday that first quarter revenue will be below what it previously expected due primarily to weak demand for PCs, especially in emerging markets. Marvell Technology is scheduled to report quarterly results on May 21st.
IGATE (IGTE) shares are higher this morning. The U.S. based technology services company is being bought by French rival Capgemini for $4 billion in cash, or $48 a share. The deal will help Capgemini (CAP.PA) become a leader in the North American market.
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Applied Materials (AMAT) shares are tumbling in early trading. The U.S. semiconductor maker and Japanese rival Tokyo Electron scrapped their plans to merge because the Justice Department raised concerns that it would hurt competition.
Deutsche Bank (DB) U.S. listed ADRs are down sharply after the German lender announced a major overhaul of its banking operations. It's an effort to cut costs and improve profits after the company reported earnings fell by half in the first quarter as big legal charges took a toll on revenue.
Drug prices soar after purchases
A new report finds more and more pharmaceutical companies are buying drugs from rivals and raising the price. The Wall Street Journal says that's one reason why name-brand drug prices have increased by 127% since 2008.
Chipotle (CMG) is removing all genetically modified products from its menu. While Chipotle has labeled food containing GMOs since 2013, it will become the first major chain to stop serving GMO products altogether.
Related: Chipotle menu is now GMO-free
