This could be another bumper week for markets as more big-name firms are due to release their third-quarter earnings. Market-moving economic numbers are scant, though, with the Fed set to release Q3 productivity figures on Wednesday and September’s consumer credit report on Thursday. This week will be a big one for 2019’s IPOs as both Uber and Peloton reveal their Q3 results. So far, performance among firms with IPO’s in 2019 have been underwhelming at best, so the numbers will either underscore the poor quality of the year’s IPOs or offer some redemption. In any case, investors have a lot to watch in the week ahead.
Uber (NYSE:UBER)’s Q3 earnings will be closely watched as investors look for signs of life at the beaten-down ride-sharing firm. UBER’s stock price has been weighed down by concerns about new labor laws in California as well as worries about the firm’s financial status. Rival Lyft announced that it expects to become profitable years earlier than it initially expected, something investors will likely have in mind when Uber announces.
Investors will be looking for Uber to wow them after Lyft announced plans to become profitable sooner than expected. | Source: Yahoo Finance
The firm is expected to report a loss of $0.70 per share on revenue of $3.6 billion.
Peloton (NASDAQ:PTON) will steal the spotlight on Tuesday as the company prepares for its first quarterly release following its September IPO. So far, PTON stock has received a lukewarm reaction from Wall Street despite the fact that analysts have been overwhelmingly positive about the fitness-bike maker.
Many question the size of the firm’s market, but analysts say the company’s mix of exercise bikes plus a subscription service give it a lot of growth potential.