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Alphabet's Q1 sales fall short of expectations: Morning Brief

Tuesday, April 30, 2019

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Apple (AAPL) will take center stage today.

The iPhone maker is scheduled to release fiscal second-quarter financial results after the closing bell. Apple is expected to report softer sales compared to the same period last year; however, despite all of the bad news recently, the stock has been on a tear this year and is within striking distance from the key $1 trillion market cap level.

Apple lowered its outlook ahead of its second-quarter results and is now expected to report earnings of $2.37 per share on $57.49 billion in revenue, according to data compiled by Bloomberg. Investors will be focusing on revenue from Apple’s Services business as well as performance in China during the quarter.

Other notable earnings scheduled for Tuesday include Blue Apron (APRN), ConocoPhillips (COP), Eli Lilly (LLY), General Electric (GE), Incyte (INCY), Mastercard (MA), McDonald’s (MCD), Merck (MRK), Pfizer (PFE), Shopify (SHOP) before market open, and Advanced Micro Devices (AMD), Amgen (AMGN), Groupon (GRPN), Mondelez (MDLZ), Twilio (TWLO) after market close.

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(AP Photo/David Goldman, File)

Alphabet's first-quarter sales fall short of expectations: Google parent Alphabet (GOOGGOOGL) missed expectations for first-quarter revenue as Google’s advertising sales came up light, sending shares lower in extended trading. Alphabet posted revenues of $29.48 billion, excluding traffic acquisition costs (TAC), for the quarter ending in March. This fell short of expectations for just over $30 billion in revenue excluding TAC, according to Bloomberg-compiled estimates. [Yahoo Finance]

WeWork amends IPO filing, takes a step closer to going public: Office sharing company WeWork announced in a press release that it amended a Securities and Exchange Commission registration originally filed in December 2018. The terms on its pricing and valuation were not immediately disclosed. [Yahoo Finance]

Trump sues Deutsche Bank and Capital One: U.S. President Donald Trump, three of his children and seven of his companies filed a federal lawsuit Monday against Deutsche Bank and Capital One Financial Corp. to block the banks from complying with federal subpoenas investigating his financial dealings. [Reuters]

U.S. Chamber: Fixing infrastructure could 'turbo-charge' economy: House Speaker Nancy Pelosi (D-CA), Senate Minority Leader Chuck Schumer (D-NY) and other lawmakers are set to meet with President Donald Trump at the White House on Tuesday to talk about infrastructure. Since Democratic lawmakers took control of the House in January, both parties have pointed to infrastructure as an issue on which a divided Congress could find common ground. [Yahoo Finance]

Tesla to reportedly reduce solar panel prices by up to 38%: Tesla Inc. (TSLA) plans to announce on Tuesday that it has started selling solar panels and related equipment for up to 38% below the national average price, the New York Times reported on Tuesday. [Yahoo Finance]


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