Tesla, Netflix, AT&T, Chipotle, IBM, and other stocks for investors to watch this week

  • By Nicholas Jasinski,
  • Barron's
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Third-quarter earnings season ramps up this week, with 80 S&P 500 (.SPX) companies reporting. Halliburton (HAL) and IBM (IBM) kick things off on Monday, followed by Lockheed Martin (LMT), Netflix (NFLX), Procter & Gamble (PG), Snap (SNAP), and Texas Instruments (TXN) on Tuesday.

Wednesday is particularly busy: Biogen (BIIB), Chipotle Mexican Grill (CMG), Tesla (TSLA), and Verizon Communications (VZ) are among the companies reporting. Thursday’s highlights include American Airlines Group (AAL), AT&T (T), Coca-Cola (KO), Dow (DOW), Intel (INTC), and Southwest Airlines (LUV). Finally, American Express (AXP) closes the week on Friday.

Economic data highlights this week include the Conference Board’s Leading Economic Index for September on Thursday and IHS Markit’s Manufacturing and Services Purchasing Managers’ Indexes for October on Friday. The Federal Reserve’s latest beige book summary of economic conditions in the U.S. is out on Wednesday.

There will also be several housing-market indicators published this week. On Monday, the National Association of Home Builders releases the NAHB/ Wells Fargo Housing Market Index for October. On Tuesday, the Census Bureau reports new residential construction data for September. And on Thursday, the National Association of Realtors reports existing-home sales for September. Monday 10/19

Cadence Design Systems (CDNS), Halliburton, IBM, PPG Industries (PPG), and Zions Bancorp (ZION) report quarterly results.

The National Association of Home Builders releases the NAHB/Wells Fargo Housing Market Index for October. Consensus estimate is for an 83 reading, even with the September data. The 83 figure for September is an all-time high in the 35-year history of the index. Tuesday 10/20

Lockheed Martin, Netflix, Paccar (PCAR), Philip Morris International (PM), Procter & Gamble, Prologis (PLD), Snap, Texas Instruments, and Travelers (TRV) report earnings.

The Census Bureau reports new residential construction data for September. Expectations are for a seasonally adjusted annual rate of 1.47 million housing starts, slightly above August’s 1.42 million. Building permits are seen coming in at 1.53 million, higher than the 1.48 million figure from August. Wednesday 10/21

Abbott Laboratories (ABT), Amphenol (APH), Baker Hughes (BKR), Biogen, Chipotle Mexican Grill, Crown Castle International (CCI), CSX (CSX), Edwards Lifesciences (EW), Lam Research (LRCX), NextEra Energy (NXTFF), Tesla (TSLA), Thermo Fisher Scientific (TMO), and Verizon Communications report quarterly results.

The Federal Reserve releases the beige book, which summarizes current economic conditions in the 12 Federal Reserve districts. This will be the seventh of eight beige book releases for the year. Thursday 10/22

Less than a fortnight before Election Day, the final debate between President Donald Trump and former Vice President Joe Biden takes place at Belmont University in Nashville.

American Airlines Group, American Electric Power (AEP), AT&T, Capital One Financial (COF), Coca-Cola, Danaher (DHR), Dow, Intel, Kimberly-Clark (KMB), Northrop Grumman (NOC), SL Green Realty (SLG), Southwest Airlines, Union Pacific (UNP), and Valero Energy (VLO) hold conference calls to discuss earnings.

The National Association of Realtors reports existing-home sales for September. Economists forecast a seasonally adjusted annual rate of 6.4 million existing homes sold, up from six million in August. The August figure was the highest since late 2006, and up more than 50% from the recent pandemic low set in May.

The Conference Board releases its Leading Economic Index for September. Consensus estimate is for a 0.7% month-over-month rise to 107.2. Friday 10/23

American Express and Illinois Tool Works (ITW) report quarterly results.

IHS Markit releases its Manufacturing and Services Purchasing Managers’ Indexes for October. Expectations are for 55 and 55.2 readings, respectively, both slightly above the September data.

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