AT&T Profits, Intel Outlook, FANG Fumble: 3 Things to Watch By Investing.com

By Liz Moyer

Investing — Stocks regained some of their recent losses on Wednesday as investors warmed again to growth stocks.

Even a fresh wave of Covid-19 infections couldn’t dampen enthusiasm for the so-called reopening trade, pushing shares of cruise operators higher. 

President Joe Biden kicks off a two-day climate summit at the White House on Thursday, inviting 40 world leaders to participate virtually. He is expected to call for emissions to be cut by 50% and for government agencies to report on the risk of climate change.

There are scant data releases on Thursday, but the weekly data on initial and continuing jobless claims.

Here are three things that could affect markets tomorrow:

1. AT&T earnings

AT&T Inc (NYSE:T) follows Verizon Communications Inc (NYSE:VZ) with earnings. The telecom giant also has something going for it — HBO Max, the streaming service of WarnerMedia, which is owned by AT&T. Warner has been releasing movies on HBO at the same time as their theatrical debut, helping to lure subscribers to the relatively new business. Analysts tracked by Investing.com expect earnings per share of 78 cents on revenue of $42.7 billion.

2. Intel outlook

Chip stocks have been in the spotlight, in part because of a global shortage of the materials that power everything from iPhones to cars. American chip maker Intel Corporation (NASDAQ:INTC) has promised to spend $20 billion to build two new factories in Arizona. It reports earnings on Thursday and analysts expect EPS of $1.14 on revenue of $17.8 billion.

3. FANG fumble 

On television Wednesday, they called it the “FANG fumble,” this fear among investors that the tech giants that have led markets higher for months are somehow losing steam. Netflix Inc (NASDAQ:NFLX) — the N in FANG — tumbled after hours on Tuesday and fell another 7% on Wednesday after beating earnings expectations but disclosing far fewer new subscriptions than expected. Netflix leads off the earnings season for the group, which also includes Facebook Inc (NASDAQ:FB), Apple Inc (NASDAQ:AAPL) and Alphabet Inc Class C (NASDAQ:GOOG)parent Alphabet.