This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Wednesday, July 24:

1. -- U.S. stock futures were pointing to gains on Wall Street Wednesday after Apple's (AAPL - Get Report) earnings topped forecasts and ahead of reports from the likes of Ford (F - Get Report), Facebook (FB - Get Report) and Boeing (BA - Get Report).

European shares were rising on purchasing managers index reports that came in better than expected. Asian stocks ended Wednesday's trading session mixed.

2. -- The economic calendar in the U.S. Wednesday includes new-home sales for June at 10 a.m. EDT.

3. -- U.S. stocks ended Tuesday's session mixed as investors showed caution about this seemingly never-ending bull market.

The S&P 500 dropped 0.2% to finish at 1,692.39 after trading as high as 1,698.78, a new intraday record. On Monday, the S&P hit a record closing price of 1,695.53. The Dow Jones Industrial Average added 0.1% to 15,567.74 while the Nasdaq fell 0.6% to 3,579.27.

4. -- Apple's (AAPL - Get Report) third-quarter earnings beat Wall Street expectations, as the company sold 31.2 million iPhones during the period.

Apple earned $7.47 a share on revenue of $35.3 billion in its fiscal third quarter. Analysts were expecting profit of $7.32 a share in sales of $35.01 billion.

During the quarter, Apple sold 31.2 million iPhones, up from 26 million in the year-earlier quarter. It sold 14.6 million iPads during the quarter, down from17 million a year earlier, and sold 3.8 million Macs during the quarter, down from 4 million in the year-earlier period.

Gross margins during the quarter were 36.9%, down from 42.8% a year earlier.

For the fourth quarter, Apple expects revenue of between $34 billion and $37 billion, with gross margins between 36% and 37%.

5. -- Wall Street expects automaker Ford (F - Get Report) to report on Wednesday second-quarter earnings of 37 cents a share on sales of $35.15 billion.

Last year, Ford earned 30 cents a share on revenue of $31.4 billion.

6. -- Analysts expect Facebook (FB - Get Report), the social networking giant, to post after Wednesday's closing bell second-quarter earnings of 14 cents a share on revenue of $1.62 billion.

Investors will be focused Wednesday on signs that Facebook can keep growing advertising revenue, especially on mobile devices.

7. -- Boeing (BA - Get Report), the aerospace manufacturer, is expected by Wall Street to report second-quarter earnings of $1.58 a share on revenue of $20.78 billion.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $124.25 -0.14%
BA $148.65 -0.95%
CAT $79.64 -0.49%
F $15.92 -1.40%
FB $81.66 -0.67%


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs