Earnings bonanza; Shock at Fiat Chrysler; Ryanair struggles

1. Earnings bonanza: The earnings season is in full swing.Things kick off before the bell Mon...

Posted: Jul 23, 2018 1:00 PM
Updated: Jul 23, 2018 1:00 PM

1. Earnings bonanza: The earnings season is in full swing.

Things kick off before the bell Monday with toymaker Hasbro and oilfield services firm Halliburton. Google parent company Alphabet, Whirlpool and TD Ameritrade will follow after the close.

Up later in the week are companies including AT&T, Harley-Davidson, JetBlue, Boeing, Coca-Cola, Facebook, Ford, Fiat Chrysler, General Motors, Amazon, American Airlines, McDonald's, Starbucks and Twitter.

2. Global stock market overview: US stock futures were looking soft on Monday.

Most European markets dipped in early trading, with main indexes in Britain and France off 0.5%.

Asian markets ended the day with mixed results. The Nikkei in Japan dropped 1.3% while the Shanghai Composite surged 1.1%.

US market moves were muted last week. The Dow Jones industrial average gained 0.2%, while the S&P 500 was flat and the Nasdaq dropped 0.1%.

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3. Stock market movers -- Ryanair, Fiat Chrysler, Ferrari: Shares in Ryanair dropped 6% after the low-cost carrier said that higher fuel costs, rising wages and strikes by pilots and regional air traffic controllers had caused its first quarter profit to drop 20% over the previous year.

Shares in Fiat Chrysler (FCA) were down 3% in Milan after the automaker announced the sudden resignation of Sergio Marchionne on Saturday after the longtime CEO suffered complications from surgery.

Replacing him will be the former boss of the automaker's Ram and Jeep brands, Mike Manley.

The company said in a statement that "unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours."

Marchionne, 66, will also leave his roles as chairman and chief executive at Ferrari, which was spun off from FCA several years ago. The luxury carmaker said Louis Camilleri, a Ferrari board member and chairman of Philip Morris International Inc., will become CEO.

Shares in Ferrari also declined 3%.

4. Watching Iran: US President Donald Trump has warned on Twitter that Iran could "suffer consequences the likes of which few have ever suffered before."

The tweet, which was posted late Sunday night, follows an apparent warning from Iran's President Hassan Rouhani, in which he cautioned that Americans "must understand that war with Iran is the mother of all wars and peace with Iran is the mother of all peace," according to Iranian state media reports.

Despite the dramatic rhetoric, US crude oil futures were little changed at $68.50 per barrel.

The United States is preparing to reimpose harsh sanctions on Iran that threaten its oil exports after the Trump administration pulled out of a nuclear deal with the country.

5. Transatlantic transactions: Shares in French IT services firm Atos slipped 5% in Paris after the company announced a plan to buy the US-based firm Syntel for $3.4 billion in cash.

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6. Coming this week:
Monday - Earnings from Alphabet and Hasbro
Tuesday - Earnings from 3M, AT&T, Harley-Davidson, JetBlue, Kimberly-Clark, Lockheed Martin, Texas Instruments and Verizon
Wednesday - Earnings from Boeing, Coca-Cola, Equifax, Facebook, Ford, Fiat Chrysler, General Motors and Mattel; President Donald Trump and European Commission President Jean-Claude Juncker meet in Washington to discuss trade issues
Thursday - Earnings from Amazon, American Airlines, Chipotle, McDonald's and Starbucks
Friday - Exxon Mobil, Merck and Twitter report earnings; 21st Century Fox holds shareholder meeting; US reports Q2 GDP data

Mississippi Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 92432

Reported Deaths: 2792
CountyConfirmedDeaths
Hinds6931154
DeSoto535455
Harrison370771
Jackson335867
Madison319086
Rankin316174
Lee256166
Jones237678
Forrest231769
Washington216371
Lafayette205039
Lauderdale1990124
Bolivar177565
Oktibbeha174149
Lamar157733
Neshoba1529103
Panola142426
Sunflower139643
Lowndes138957
Warren137250
Leflore135380
Pontotoc121216
Pike120448
Monroe118265
Scott115925
Copiah115733
Coahoma111227
Holmes108558
Marshall107115
Grenada105035
Lincoln104953
Yazoo103529
Simpson100742
Union97724
Tate95037
Leake93735
Adams90936
Wayne87121
Pearl River85150
Marion83633
Prentiss80317
Covington79622
Alcorn76311
Newton75022
Itawamba74621
Tallahatchie74518
George74013
Winston72019
Tishomingo65336
Chickasaw64124
Attala64025
Tippah63716
Walthall59025
Clay56516
Hancock55720
Noxubee54015
Jasper53815
Clarke53138
Smith51814
Calhoun50612
Tunica47613
Montgomery45320
Claiborne45116
Lawrence42312
Yalobusha41514
Perry39417
Humphreys37215
Quitman3725
Stone34811
Greene33817
Webster32813
Jefferson Davis32311
Amite31110
Carroll31012
Wilkinson30117
Kemper28615
Sharkey26212
Jefferson2379
Benton2181
Franklin1873
Choctaw1775
Issaquena1033
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 128818

Reported Deaths: 2284
CountyConfirmedDeaths
Jefferson18772333
Mobile12975289
Montgomery8598173
Madison742275
Tuscaloosa7081114
Lee560359
Shelby557250
Baldwin503348
Marshall378442
Etowah330645
Calhoun324939
Morgan314226
Houston264422
Elmore249747
DeKalb232619
St. Clair219835
Walker219180
Talladega203426
Limestone194219
Cullman180817
Franklin173428
Dallas173226
Russell16922
Autauga166424
Lauderdale161633
Colbert158126
Escambia155424
Blount152714
Jackson148511
Chilton146327
Covington130327
Dale130043
Coffee12488
Pike11359
Tallapoosa112983
Chambers111742
Clarke104617
Marion92128
Butler90638
Barbour8247
Marengo69619
Winston68712
Lowndes64527
Pickens62814
Bibb61910
Hale61028
Randolph59112
Bullock58514
Lawrence57820
Monroe5738
Geneva5564
Cherokee54816
Washington54513
Perry5366
Clay5317
Wilcox53011
Crenshaw51931
Conecuh51711
Macon46720
Henry4594
Sumter41719
Fayette4159
Choctaw34412
Lamar3372
Cleburne3166
Greene30015
Coosa1603
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