What to Watch Friday: GE and American Airlines Report Earnings

General Electric (GE) - Get Report and American Airlines (AAL) - Get Report round out a busy week of earnings on Friday, July 22. The industrials giant is expected to post earnings of $0.46 a share on sales of $31.76 billion for its most recent quarter before the markets open. During the same quarter a year ago, GE reported earnings of $0.31 a share with revenue of $29.32 billion. Investors await commentary from the $25 billion in jet engine sales the company scored at the Farnborough Airshow, along with an update on its oil and gas unit, amid lower oil prices. Meanwhile, American Airlines is expected to report second quarter earnings of $1.68 a share on sales of $10.32 billion. During the same quarter a year ago, the company posted net income of $2.62 a share with revenue of $10.8 billion. On the economic calendar, the PMI Manufacturing Index for July is unveiled at 9:45am along with the weekly Baker-Hughes (BHI) rig count at 1pm. TheStreet's Scott Gamm reports from Wall Street.