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Earnings, Fed In Focus As Wall Street Heads To Higher Open

By Investors Hub

Stocks are showing signs of an early advance on Wall Street, as investors digest the latest round of earnings news and look ahead to a couple of big reports set to be released after the close. Meanwhile, the Federal Reserve is set to announce its latest interest rate decision later today.

Earnings are out from a number of major companies. The list of big names that have issued their quarterly reports includes Boeing (BA), Coca-Cola (KO) and Ford (F). After the markets close, results are due out from Facebook (FB) and PayPal (PYPL).

Aerospace and defense giant Boeing Co. reported a turnaround to profit in the second quarter as lower revenues were more than offset by a decline in costs and expenses. Adjusted earnings per share for the quarter beat analysts’ expectations, while revenues missed their estimates. Looking ahead to fiscal 2017, the company raised its outlook for earnings and affirmed its forecast for revenues.

Coca-Cola Company reported a profit for the second-quarter that declined 60 percent from last year, as the company incurred a charge of $653 million related to refranchising its North America bottling operations. Still, adjusted earnings per share topped analysts’ expectations.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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