LMT - 5 stocks to watch on Tuesday: Johnson & Johnson Bank of America Goldman Sachs and more
2023-04-18 08:24:31 ET
With another round of earnings reports likely to provide the centerpiece to the day's trading, the futures are pointing to a higher open on Tuesday. Another advance would mark the S&P 500's third consecutive day of gains. Here are some stocks to watch on Tuesday:
- Johnson & Johnson ( JNJ ) edged higher in premarket trading, rising by about 2% after the healthcare giant announced its quarterly results. The company beat expectations with both its top and bottom lines, with revenue climbing 6% to $24.75B. JNJ also raised its 2023 outlook, targeting sales between $97.9B and $98.9B.
- The release of quarterly results also gave a premarket lift to Bank of America ( NYSE: BAC ). The banking behemoth topped projections with its Q1 EPS. Revenue also came in above expectations, rising 13% from last year to $26.3B -- more than $1B above analysts' consensus.
- Goldman Sachs ( GS ) unveiled a mixed Q1 earnings report , with a bottom-line figure that surpassed analysts' expectations. However, the Wall Street bank missed projections with its revenue total, which slumped 6% from last year to $12.2B. GS dipped about 3% before the opening bell.
- Lockheed Martin ( LMT ) reported a Q1 profit of $6.43 , exceeding projections by $0.37. The defense contractor's top-line figure edged up 1% to $15.1B. Looking ahead, the company predicted full-year net sales of $65B to $66B.
- Netflix ( NFLX ) is scheduled to report its quarterly results after the closing bell. Analysts expect the streaming TV company to earn $2.87 per share, with revenue of nearly $8.2B. Meanwhile, investors will likely focus on the firm's subscriber numbers and the impact of its crackdown on password sharing.
Looking ahead to the rest of the quarterly earnings season, Seeking Alpha contributor Louis Navellier argues that the Q1 results outlook remains "mixed" at best .
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5 stocks to watch on Tuesday: Johnson & Johnson, Bank of America, Goldman Sachs and more