Market Watch: Alphabet, Boeing, and Other Stocks in Focus on Wednesday

Published January 31, 2024

Heading into Wednesday, the performance of U.S. stock futures has been mostly on the downside. Investors are paying close attention to several key stocks that might influence market movements today.

Boeing's Financial Performance

Wall Street analysts predict that The Boeing Company (BA) will unveil a quarterly loss of 78 cents per share, with revenue projections of $21.10 billion prior to the market's open. In response to these expectations, Boeing's shares experienced a slight decline of 0.2% to $199.99 in the post-market trading period.

Alphabet's Earnings Report

Turning to the tech giant, Alphabet Inc (GOOG, GOOGL) recently announced its earnings for the fourth quarter, which surpassed expectations. Nevertheless, the company's advertising revenue failed to meet market predictions, sending Alphabet's shares down by 5.7% to $144.28 during after-hours trading.

QUALCOMM's Anticipated Earnings

Market analysts have set their sights on QUALCOMM Incorporated (QCOM), expecting the company to post earnings of $2.37 per share with a revenue of $9.52 billion for the recent quarter. Post-market reactions saw QUALCOMM's shares drop 0.4% to $145.41. The earnings report is scheduled for release after market hours.

Microsoft's Strong Results

Not to be overlooked, Microsoft Corporation (MSFT) showcased impressive second-quarter results, reporting an 18% year-over-year increase in revenue to $62 billion. This figure exceeded consensus estimates, which stood at $61.12 billion. Despite the positive news, Microsoft's stock dropped 0.3% to $407.26 in after-hours trading.

Phillips 66 Earnings Forecast

Last, but certainly not least, Phillips 66 (PSX) is expected to post quarterly earnings of $2.35 per share on high revenue estimates of $36.5 billion before the bell. Reflecting the tentative mood, shares of Phillips 66 marked a decline of 0.3% to $142.00 after the close of the market.

Boeing, Alphabet, Qualcomm, Microsoft, Phillips66