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Amazon, GE report - What to know in markets Thursday

Heidi Chung

It’s another busy day for corporate earnings on Thursday. The biggest reports that investors will be paying attention to include industrial giant General Electric (GE) before the bell and e-commerce behemoth Amazon (AMZN) after the market close.

Amazon takes center stage. The e-commerce company had a record holiday season and Prime membership is booming. Amazon reported 100 million Prime members in April 2018. And Wall Street is expecting good news when it comes to Amazon’s earnings report.

“We expect revenue above the high-end of guidance given recent news, with SMB sales up by over 20% on Black Friday, Cyber Monday the biggest shopping day in company history (again), and the holiday season setting a record for items ordered,” Wedbush analysts said in a note on Monday.

Ad revenue during the quarter is also expected to be strong. “We are raising our 4Q18/2019/2020 advertising estimates following a noticeable uptick in enthusiasm for Amazon's ad business after the 4Q holiday season,” BMO analysts said on Tuesday. “We attended AdExchanger's Industry Preview last week where the tone of conversations about Amazon's ad business changed meaningfully and we believe this is driven by more substantial investment. This marks one of the most significant reinforcements of our thesis on AMZN and we are buyers of the shares into the [quarter].”

Amazon is expected to report earnings of $7.88 per share on $71.92 billion in revenue, according to analysts polled by Bloomberg.

General Electric stock has had a tough couple of years, but 2019 is off to a good start. Shares have rallied 20% in the past month, and as the company gears up for earnings on Thursday, Wall Street has made clear that it will be focused on what new CEO Larry Culp will say about the struggling areas of GE’s business.

Analysts polled by Bloomberg are expecting GE to report earnings of 22 cents per share on $32.33 billion in revenue during Q4.

Some other earnings reports to keep an eye on include Altria (MO), Baker Hughes (BHGE), Blue Apron (APRN), Celgene (CELG), Charter Communications (CHTR), ConocoPhillips (COP), DowDuPont (DWDP), Ferrari (RACE), Hershey Company (HSY), Mastercard (MA), Northrop Grumman (NOC), Raytheon (RTN), Royal Dutch Shell (RDS-A), Sherwin-Williams (SHW), Sprint (S) and UPS (UPS) before the market open. Yum China (YUMC) will report after the market close.

Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

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