7 stocks to keep an eye on on Thursday include Meta, Merck, Honeywell, and others.
The Nasdaq and S&P 500 are set for more increases at the opening of trading on Thursday after a Federal Reserve-driven rally the day before. The following equities are recommended for Thursday:
Ahead of the opening bell, Meta Platforms META saw an almost 19% increase, helped by better-than-expected Q4 revenue. The $32.2B top-line figure dropped 5%. This nonetheless exceeded the analysts' consensus by $480M. The parent company of Facebook recently disclosed a $40 billion stock repurchase plan.
Following the publication of its quarterly update, Merck MRK dipped slightly in premarket trading. Even though earnings decreased from the previous year, the company's Q4 performance exceeded expectations. In contrast to the average projection of $58.3 billion for 2023, the pharmaceutical company forecast sales of $57.2 billion to $58.7 billion. The announcement caused shares to fall 2%.
Additionally, the announcement of quarterly earnings put pressure on Honeywell HON. After the company's revenue fell short of analysts' projections, shares fell 4%. HON forecasted sales of $36-$37 billion for 2023 as opposed to the $36.9 billion that analysts had estimated.
Following the disclosure of its financial results, premarket buying surged in the case of Harley-Davidson HOG. Analysts' predictions for the company's quarterly profit were easily surpassed. Revenue increased by over 12% to $1.14B, nearly $230M more than expected. About 7% of the stock increased before the opening bell.
After the closing bell, Apple AAPL is anticipated to release its quarterly results. On $122B in revenue, the iPhone manufacturer is expected to generate $1.96 per share. Investors will also seek information on China's supply chain as a whole.
There will also be a quarterly update from Amazon AMZN. With revenue increasing to over $145.8B, the online retailer is anticipated to report a quarterly profit of $0.17 per share. Wall Street will also closely examine the company's AWS cloud business figures, which are a crucial indicator of the firm's long-term health.
On the list of megacaps releasing their quarterly results in the postmarket hours is Alphabet GOOG GOOGL as well. The parent company of Google is expected to generate $76.5B in revenue and earn $1.20 per share.
Take a look at the top 10 ETF inflow leaders for January, which include names from the fixed income and emerging markets sectors.