Here's your Investing Action Plan for Wednesday: what you need to know as an investor for the coming day.
Tesla Motors' (TSLA) quarterly results should go back to black, Boeing (BA) is near buying territory ahead of its report, while GrubHub (GRUB) is extended above an entry point. Biogen (BIIB) and NXP Semiconductor (NXPI) are also due to report.
Tesla
Estimates: Adjusted profit of 9 cents a share, ending seven straight quarters of losses. A year ago, Tesla lost 58 cents a share. Revenue is seen surging 85% to $2.35 billion, as Q3 vehicle deliveries jumped 70% from Q2 to 24,500.
Stock: Shares dipped 0.2% to close at 202.34 on the stock market today and have been trading below their 50- and 200-day averages.
Watch for any updates to Tesla's ambitious production targets amid reports of reliability issues as well as anything new about its controversial acquisition bid for sister company SolarCity (SCTY).
On Friday, Tesla and SolarCity plan to introduce a solar roof product that will be integrated with the new version of Tesla's at-home battery, the Powerwall 2.0, and Tesla's charger.
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Boeing
Estimates: EPS up 4% to $2.62 but revenue is seen falling 8.6% to $23.64 billion. Boeing preannounced a 5.5% decline in commercial deliveries and a 4.2% increase in defense deliveries.
Stock: Shares rose 1.1% to 139.02 Tuesday, just below a 139.55 buy point from a flat base.
Watch for updates on its 777 production rates, progress on the KC-46 tanker program for the Air Force, and long-term prospects for its St. Louis plant after receiving orders for fighter jets from the Mideast.
Northrop Grumman (NOC) and General Dynamics (GD) also report Wednesday. Wall Street sees Northrop's EPS up 2% to $2.81 with revenue up 0.6% to $6.02 billion. General Dynamics' EPS is seen rising 4% to $2.38, while revenue is expected to ease 1% to $7.91 billion.
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GrubHub
Estimates: EPS is seen growing 46% to 19 cents with revenue up 35% to $118.5 million.
Stock: Shares lost 0.9% Tuesday. GrubHub is extended after finding support near its 50-day moving average and is holding above a 39.39 short-stroke follow-on entry point.
The provider of food delivery services is facing increased competition from like Uber, Amazon (AMZN) and now Facebook (FB), which just launched new features where users can buy movie tickets and have food delivered, among other things.
IBD'S TAKE: If Wall Street is concerned about increasing competition, you wouldn't know it by looking at GrubHub's chart. The stock continues to trade near highs, showing supporting action at its 10-week moving average. Here's why support at the 10-week average is good to see after a breakout.
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NXP Semiconductors
Estimates: EPS up 2% to $1.60 on a 62% sales spike to $2.46 billion, marking a fourth quarter in a row of accelerating sales growth.
Stock: Shares dipped 1.2% Tuesday but jumped last month on reports it is a buyout target for Qualcomm (QCOM).
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Biogen
Estimates: EPS up 11% to $4.97, and sales of $2.9 billion, up 4.5%.
Stock: Shares fell 1.6%, undercutting the flat base they have been forming.
Biogen could add $1 billion in 2017 sales if its myotonic dystrophy drug in partnership with Ionis Pharmaceuticals (IONS) garners strong phase 1 and 2 data by year's end, says RBC analyst Michael Yee.
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