Alphabet ( GOOG , GOOGL )
Google-parent Alphabet is the first Magnificent 7 tech giant to report this week, with it due to release results later on Tuesday.
Shares were flat in pre-market trading on Tuesday ahead of the release of the earnings.
In its third quarter results , Alphabet is expected to share updates on its efforts to turn artificial intelligence (AI) investments into new revenue streams, as well as how it is performing in the digital ad market.
Wall Street is expecting Alphabet to report revenue of $86.44bn (£66.56bn) for the third quarter, according to Bloomberg data. That's up from $76.69bn in the same quarter last year.
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Earnings per share is expected to come in at $1.83, up from $1.55 last year.
This latest earnings report comes as the company faces regulatory headwinds. Earlier in the month, the Department of Justice (DOJ) said it may recommend the break-up of Google to rein in its dominance in the search engine market.
Neil Wilson, chief market analyst at Finalto, said that "the key for [Alphabet in] the longer term is AI developments and the search moat.
"Can Alphabet do enough to defend its moat – its dominance of search advertising – as AI ushers in radical changes in the way people use the internet?"
Ford Motor Company ( F )
Automaker Ford was down 6% in pre-market trading on Tuesday morning, on the back of the company guiding to the lower end of its profit outlook for the year, in results released after the closing bell on Monday.
Ford brought down its full-year profit forecast, saying it now expected earnings before interest and tax "to be about $10bn", which was at the lower end of its previous $10bn to $12bn guidance.
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In a media call with reporters, Ford vice chair and CFO John Lawler cited "supplier disruptions" for lower sales in Ford Pro and Ford Blue for the reason.
However, Ford beat expectations on revenue, which came in at $46.2bn against an estimate of $41.9bn, as per Bloomberg data. While this was down compared to the $47.8bn reported last quarter, it was 5% higher than the $43.8bn it posted a year ago.
Ford matched expectations with adjusted earnings per share of $0.49, on adjusted earnings before interest and tax of $2.6bn.
PayPal Holdings ( PYPL )
Another major US company due to report on Tuesday is US digital payments giant PayPal.
Ahead of its earnings release, US stock broker Monness, Crespi, & Hardt raised its price target on the shares from $95 to $110 and maintained a buy rating on the stock.
This upgrade comes after the firm's analysis of "key US e-commerce indicators" suggests strong quarterly performance.
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PayPal shares were up nearly 2% in pre-market trading on Tuesday morning.
In its second quarter report , PayPal raised its guidance for 2024 and increased share buybacks following strong results.
The company said it expected to report earnings per share of $3.88 to $3.98, up from a previous estimate of approximately $3.65.
For the third quarter, PayPal guided to revenue growth in the mid-single digits and earnings per share of $0.96 to $0.98.
Advanced Micro Devices ( AMD )
Chipmaker AMD will release its fiscal third-quarter results after the bell on Tuesday.
AMD shares are up 65% over the past 12 months, beating the performance of the broader S&P 500 ( ^GSPC ) index, which has risen 36% in the last year.
While AMD is Nvidia's ( NVDA ) biggest rival in the chipmaking space, the latter still dominates the sector, with a market share of 75% to 90%.
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However, investors are likely to be looking at AMD's latest set of results to help give an idea as to the health of the AI market, with growing demand for the technology driving shares of these tech giants higher.
Earlier in October, AMD debuted three of its upcoming AI chips , as it seeks to gain greater market share.
In the third quarter results, AMD is expected to post adjusted earnings per share of $0.92 and revenue of $6.7bn, according to Bloomberg analyst consensus estimates. That would be up from earnings per share of $0.70 and revenue of $5.8bn in the same quarter last year.
Trump Media & Technology Group ( DJT )
Shares in Trump Media soared on Monday, closing the session up nearly 22%, as investors bet on former president Donald Trump's improved odds of winning the US election next week.
The jump is shares comes after the Republican nominee's highly criticized rally at Manhattan's Madison Square Garden (MSG) over the weekend.
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Other Trump-related stocks moved in tandem with DJT. Conservative-leaning platform Rumble ( RUM ) rose nearly 15% on Monday and was up close to 5% in pre-market trading on Tuesday. However, mobile advertising software company ( PHUN ) fell 11% in premarket, after erasing Monday's intraday gains to close flat.
However, investors aren't convinced that the surge in DJT shares will continue beyond the short term.
"It's a binary bet on the election," Matthew Tuttle, CEO of investment fund Tuttle Capital Management, told Yahoo Finance on Monday.
"I would imagine that the day after him winning, you'd see this come down," he said. "If he loses, I think it goes to zero."
Other companies in the news on Tuesday 29 October:
BP ( BP.L )
HSBC ( HSBA.L )
Novartis ( NOVN.SW )
YouGov ( YOU.L )
Pearson ( PSON.L )
Banco Santander ( BNC.L )
Adidas ( ADDYY )
Visa ( V )
McDonald’s ( MCD )
Pfizer ( PFE )
Chipotle ( CMG )
Snap ( SNAP )
Read more
Apple and Android .