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Markets

What to Expect When American Express, Coca-Cola, Intel, Verizon and More Report This Week

Nearly a third of the Dow Jones industrial average components are scheduled to report their latest quarterly reports this week. With the markets seemingly back on track, the fundamentals from this quarter will be important in terms of understanding where we really stand with the Dow what it could mean for the economy as a whole.

24/7 Wall St. has put together a preview of those Dow companies scheduled to report their quarterly results this week. We have included the consensus earnings estimates, as well as the stock price and trading history. Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies may change earnings dates as well.

Travelers Companies Inc. (NYSE: TRV) will report its latest quarterly earnings before Tuesday’s open. The consensus estimates call for $3.16 in earnings per share (EPS) and $7.55 billion in revenue. Shares recently near $113, in a 52-week range of $76.99 to $142.22. The consensus target price is $121.80.

Procter & Gamble Co. (NYSE: PG) is expected to report its most recent quarterly results on Tuesday morning as well. The consensus estimates are $1.41 in EPS and revenue of $18.35 billion. Shares were trading close to $145 on Friday. The consensus price target is $141.69, and the 52-week trading range is $94.34 to $145.85.

Verizon Communications Inc. (NYSE: VZ) is expected to report its most recent quarterly results first thing on Wednesday. The consensus analyst estimates are $1.22 in EPS and revenue of $31.59 billion. Verizon stock traded above $58 on Friday. The consensus price target is $61.26, and the 52-week trading range is $48.84 to $62.22.

Coca-Cola Co. (NYSE: KO) will report its latest quarterly earnings before Thursday’s opening bell. The consensus estimates call for $0.46 in EPS and $8.35 billion in revenue. Shares were trading above $50 apiece late in the week. The 52-week range is $36.27 to $60.13, and the consensus analyst target is $54.50.

Dow Inc. (NYSE: DOW) will post its quarterly earnings early on Thursday. The consensus estimates are calling for a net loss of $0.33 per share and $9.52 billion in revenue. Shares changed hands below $50 late on Friday, in a 52-week range of $21.95 to $56.25. The analysts’ consensus target is just $48.39.

Intel Corp. (NASDAQ: INTC) will share its third-quarter results late Thursday. The analysts’ consensus forecast is EPS of $1.10 on $18.22 billion in revenue. Shares were trading just below $55. The consensus price target is $56.59, and the stock has a 52-week range of $43.63 to $69.29.

And American Express Co. (NYSE: AXP) is scheduled to report its third-quarter earnings Friday morning. The consensus estimates call for $1.33 in EPS and revenue of $8.66 billion. Shares were changing hands just above $105. The mean price target is $106.04, and the 52-week trading range is $67.00 to $138.13.

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Markets

These Are The Four American Companies Worth Over $1 Trillion Each

America’s major market indexes set records in the early part of the year, only to be battered by an unprecedented economic pandemic brought on by the spread of COVID-19. The markets have repaired themselves, largely based on the belief the recession will end in a V-shaped recovery and be back to normal by early next year. The markets have been pulled higher by tech stocks, and this surge has helped the value of four American companies rise above $1 trillion each.

Alphabet Inc (NASDAQ: GOOGL) has a market cap of $1.07 trillion. The stock has moved up by 17% in 2020 despite two challenges. Revenue dropped in the second quarter, as advertiser demand was undercut by the economy. And, Congress has suggested that its Google division has too much of the U.S. market for search. It may spend years fighting that battle. However, as advertising has returned Google, and stablemate YouTube have seen sharp upturns in revenue.  That, by itself, has caused investors to believe its once extraordinary revenue growth has already restarted.

Amazon.com Inc (NASDAQ: AMZN) has a market cap of $1.624 trillion. Amazon’s Prime Day, its huge annual sales event, has just ended. Estimtates are that it bought in over $10 billion. Amazon’s entire e-commerce revenue for the second quarter was $77 billion, which shows how much fourth quarter revenue will be enhanced. When married with holiday demand, the current quarter will be a revenue blowout for the company. It remains the largest cloud comuting operator in the world. The margins on its Amazon Web Services are over 30%. Amazon faces the same kind of Congressional antirtrust challenges, but investors don’t seem to care. Amazon’s shares are up 77% this year.

Microsoft Corp (NASDAQ: MSFT), with a market cap of $1.67 trillion,  is the oldest of the megatech companies, co-founded by philanthopist Bill Gates in 1975. It has evolved from a provider of operating systems and video game consoles to the second largest cloud company. Microsoft has also added a line of hardware that has been unusually successful. It competes with Google in the search sector and has one of the world’s largest portals in MSN.  And, it continues to dominate the operating systems of computers and servers worldwide. Shares are up 39% this year

Apple Inc (NASDAQ: AAPL) has a market cap of $2.04 trillion. Its shares are up 62% this year,  mostly on anticipation that the new iPhone 12 will be the most successful generation of the smartphone in years. Because it can connect to the new ultrafast 5G networks, this anticipation has a good deal of support. The 5G access is also expected to drive high sales in China, the world’s largest wireless market by far. Apple has also started to have success in the services businesses which is made of its App Store, credit card and virtual credit card services, and its TV and streaming business. Sales of its hardware–Mac, iPad, and Watch, have been helped by the pandemic, an advantage it shares with many other consumer electronics companies.

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World News

Even in pandemic, American shoppers like visiting stores

Consumers in ‘pretty good shape’ ahead of holiday shopping season: National Retail Federation CEO

National Retail Federation CEO Matthew Shay says he expects a relatively good holiday shopping season despite the coronavirus outbreak.

Although the coronavirus pandemic has severely limited in-person shopping and devastated businesses across the country, customers still like going to stores.

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Even if they're merely stopping their cars in front for curbside pickup.

According to a Friday report in The New York Times, shoppers rescued retailers' sales this year using curbside — something the Times says is indicative of a future for the industry beyond e-commerce.

THESE STORES WILL BE CLOSED ON THANKSGIVING DAY

Curbside was many brick-and-mortar merchants' best strategy for survival as Americans increasingly turned to online giants like Amazon for their every need as countrywide lockdowns threw Americans' lifestyles into disarray.

Advisory firm Coresight Research reported that, as of August, around three-fourths of the top 50 stores in the United States offered curbside pickup.

Target, a fan favorite, reported that its curbside sales grew more than 700% in the past quarter.

A worker at Dengeos restaurant, left, passes a curbside pickup order to another staff member in Buffalo Grove, Ill., on Saturday, April 25, 2020. (AP Photo/Nam Y. Huh)

Tech giant Best Buy saw a record-setting almost $5 billion in online revenue in the second quarter, with 41% of that figure tallied from curbside or in-store pickup.

Although the industry may be permanently altered by COVID-19-spurred habit changes, curbside is a key component of preserving jobs in retail, even if sales floors evolve into mini-fulfillment centers.

For shoppers, one advantage to picking up products at stores is that they can avoid exorbitant delivery fees and frustrating wait times.

DICK'S HIRING UP TO 9,000 SEASONAL WORKERS, GEARING UP FOR HOLIDAY RUSH

When Amazon was swamped with rush orders for food, toilet paper, masks and tech in the early months of the pandemic, big box stores almost flourished. The e-comerce giant's loss was a boon for chains such as Target, Walmart and Best Buy.

Retailers that also sell groceries saw further success amid the tumult — along with a need for contactless delivery — and stores like Target are changing their business models because of it.

Target plans to add fresh and frozen groceries to its Drive Up offering, create up to 12 additional parking spaces for pickup at its locations, and double the number of employees dedicated to in-store and curbside pickup during the upcoming holiday season.

Though, notably, it will be a strange couple of months for shoppers and retailers alike.

Walmart's curbside orders accounted for 11% of its revenue in late spring and summer, giving it a leg up against Amazon, which had previously crushed competitors. The store now employs 74,000 workers to select groceries on orders and bring them out to customers' cars.

Target has said that its order pickup and curbside services cost the company approximately 90% less on average than warehouse orders, according to The Times.

The shift is a double-edged sword for employees, however, with some retailers choosing to increase workloads without providing additional compensation.

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Additionally, many Wall Street analysts predict that jobs that are viable currently could easily be done by machines in the future. Even now, curbside pickup service is highly automated.

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