A big week is coming as earnings season kicks off for some of the world’s biggest companies About 30% of the companies in the S&P 500 are expected to report. So far, the reporting period has been mixed. FactSet data shows that while more than 73% of companies’ performance exceeded expectations, overall growth in the first quarter was still flat from the same period last year. Analysts expect growth to exceed 3% this quarter. Companies preparing to release results include Meta Platforms, Tesla and General Motors. Check out CNBC Pro’s anticipated breakdown of some of the week’s biggest stories. Always Eastern time. On Tuesday, GM will report earnings before the bell, followed by a conference call at 8:30 a.m. Last quarter: GM beat Wall Street earnings and issued strong 2024 guidance. This quarter: Analysts expect earnings to fall slightly on the year, data from the London Stock Exchange Group showed. Here’s what CNBC automotive reporter Michael Wayland sees: “Wall Street expects General Motors’ first-quarter results to be solid, if not ‘resilient,’ largely due to expectations that car prices will remain as high as expected at the start of the year, with the company in 35 of the past 36 quarters. Topping Wall Street’s earnings estimates, in addition to earnings, some investors named the company their top pick among auto companies, according to recent analyst reports. It will be closely watched by investors over its annual guidance or performance forecast, cruise autonomous vehicle unit or stock buyback plan: 87 percent of GM beats earnings to the bespoke investment group. However, shares have declined in three of the last four earnings days. Tesla will release earnings after hours. Conference call with management for last quarter at 5:30 pm: TSLA reports weak auto revenue and warns of slower revenue growth in 2024. Shares fell after the report. According to LSEG, Tesla’s profits are expected to fall about 40% year-over-year this quarter. What CNBC sees: Tesla will struggle on earnings, with stock down more than 40% year to date. Deutsche Bank analyst Emanuel Rosner also downgraded the company to “hold” on concerns that the electric car maker may shift from low-cost entry-level cars to self-driving taxis. History shows: Customized data shows that 63% of Tesla’s earnings beat expectations. That said, the stock has fallen after the last four earnings releases. On Wednesday, Boeing will report earnings before the market closes. Conference call with management at 10:30 scheduled for last quarter: BA delays 2024 guidance as CEO says 737 Max 9 mid-air blowout ‘was caused by us’. LSEG data shows Boeing’s revenue is expected to fall more than 8% year-over-year this quarter. What CNBC sees: Boeing’s problems won’t stop. Shares fell 35% for the year last week after a whistleblower said the company would end production of the 787 Dreamliner over safety concerns, and CEO Dave Calhoun said last month he would end production of the 787 Dreamliner by the end of 2024. year. Could the space giant’s first quarter results signal the start of a turnaround? History shows: Boeing shares have risen in four of the past five earnings days, Bespoke data shows. The company beat earnings estimates 69% of the time. Chipotle Mexican Grill is scheduled to report earnings after the bell, followed by a conference call with company leadership at 4:30 p.m. Last quarter: CMG easily beat revenue estimates on strong restaurant traffic. This quarter: The fast-casual chain is expected to post double-digit earnings and revenue growth, according to the London Stock Exchange Group (LSEG). What CNBC is watching: Chipotle investors expressed satisfaction with the Mexican food chain’s growth as they reviewed the company’s earnings report. Shares are up nearly 25% so far this year. Can the stock maintain its upward momentum? BTIG analyst Peter Saleh remains bullish on the stock with a $3,250 price target and a buy rating. “Same-store sales should accelerate to a seasonally strong spring as the company benefits from faster California throughput, the Easter shift and higher prices,” Saleh wrote last month in the History Show: Chipotle’s earnings beat estimates for four consecutive quarters, according to Bespoke. Ford will report earnings after the close. Management is scheduled to hold a conference call at 5 pm last quarter: F earnings estimates and issue solid annual guidance. The automaker’s revenue is expected to fall more than 33% this quarter from a year ago, LSEG data showed. What CNBC auto reporter Michael Weiland sees: “Ford has less consensus than crosstown rival General Motors. Although the Detroit automaker is Morgan Stanley’s top pick, many others on Wall Street are less optimistic about the company. Ford has faced unexpected warranty and recall issues for years that have hurt its bottom line and cost it billions of dollars in sales of its all-electric vehicles. Investors will look for improvements in both areas in 2021, along with progress on the “Ford+” restructuring plan announced by CEO Jim Farley. Investors will also be watching for electric and hybrid vehicles as well as any other changes to its vehicle range, including future production plans. “History shows: Ford has missed earnings estimates in three of the past four quarters, but shares have fallen in four of the past five earnings days META’s profits tripled year-over-year last quarter, and the company paid its first dividend this quarter: Analysts are optimistic, CNBC’s Earnings per share are up nearly 100% this year, up nearly 36% this year, and Citi analyst Ronald Josi recently raised his stock price target to $590: “We believe meta benefits from higher participation and reel. Ad loads, as well as updated ad formats and features (including Ad.+ creative and catalog updates, reminder ads and longer reels) show in our testing that advertisers are increasingly using reels and video ads in their lo-fi campaigns. “History shows: Meta has a strong earnings record, according to Bespoke data Alphabet will report earnings after Thursday’s bell management. 4 pm :30 Conference Call Last Quarter: GOOGL Shares to Rise Nearly 30% in Quarter on Disappointing Ad Revenue, LSEG Data Shows What to Watch on CNBC: Alphabet Investors will seek out this tech stock. In the latest news from the artificial intelligence giant, Bloomberg News reported that the company is in talks to license Gemini AI tools for the iPhone: The parent company’s share price rose an average of 1.3% on earnings day, though, the stock fell 9.6% after the close, 5:30 p.m.- There will be a conference call at: MSFT for the quarter despite strong Azure growth: The tech giant is expected to report revenue up 10% from a year ago, CNBC tech reporter Jordan Novet sees: “Microsoft stock helped keep it in positive territory. years, thanks to the rise of artificial intelligence. Now investors want to see new developments. When Microsoft reports Thursday that it will talk about the first full quarter of the impact of the launch of the Copilot AI assistant for business customers of Microsoft 365 productivity software, analysts will be looking at the share of Azure cloud growth related to AI workloads. Coupled with any new comments about companies trying to optimize cloud costs, a resurgent PC market will boost Windows license sales. “History shows: Microsoft has missed earnings estimates for six consecutive quarters, according to data from Bespoke, with the stock falling in the wake of four of those reports.
