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Pfizer and Peloton Earnings; API Report


© Reuters.

By Daniel Shvartsman – After last week’s fireworks, markets started this week on a muted note, with the  .3% and the closer to .6%. Many of the last week’s movements were fueled by major tech earnings, but Monday’s earnings and economic events didn’t match.

This makes Tuesday a more busy day as many economic titans and companies that have been directly affected by the pandemic report. Investors are looking for clues about where consumers demand is heading, what the rate of inflation is, and how that may impact the market. A global pharma conference kicks off key events. What to look out for Tuesday?

1. Pfizer Earnings

Pfizer (NYSE:) is due to report before market open, with the pharma giant expected to report $.87/share of earnings and revenue of $24.16B, both double last year’s numbers, per analysts polled by Pfizer will report before market open on the Omicron wave and the Covid-19 pandemic. The company will also provide updates about their Covid-19 treatment, along with any other relevant non-Covid programs.

Peloton reports in the pandemic-related group after the bell. It may not be as notable because the company’s continued performance isn’t great but rather for the possibility of it being open to bidding.

2. Earnings from Sysco and Chipotle

The other major theme in earnings season is inflation. Chipotle Mexican Grill (NYSE 🙂 will report after the bell and should show 21.7% growth in topline and 51% growth in earnings. Sysco, a food distributor (NYSE:), will release earnings prior to market hours and expects to report 37.8% growth in revenue. These two companies, which come from different areas of the food chain may offer interesting insight into the persistence of inflation and the extent to which these costs are being passed on to customers.

3. API Crude Inventory

The report, which will be the first significant oil data point for the week and possibly a catalyst for the next movement, is extremely important because oil has been exceedingly scarce on Monday. The draw last week was 1.645M barrels. This is the second consecutive week with inventory declines. With no signs of an easing of tensions between Russia and Ukraine and the cold front of last week, it’s possible that upward pressure will continue to support this commodity.

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