Top of the Order: Earnings Approaching: There will be something for just about everyone in Bay Area companies’ earnings reports over the next few weeks. And this week, two of the most-opposite companies from the region will garner the attention of Wall Street and investors. Facebook will deliver its second-quarter results after the close of trading Wednesday, and analysts have forecast the social-media giant to earn $1.12 a share on $9.2 billion in revenue. During the same period a year ago, Facebook earned 97 cents a share on sales of $6.44 billion. Mobile users and revenue from mobile ads will be main areas of focus, as well as the performance of Instagram and Instagram Stories ads. Analyst Michael Pachter, of Wedbush, noted that Instagram Stories surpassed 250 million average daily users in June, up from 150 million in January. Pachter said that Instagram Stories users are also about 50 percent higher than Snap’s average user count during the first quarter of this year. The gains are viewed as impressive as Stories is seen as a rival to Snap and its bellwether Snapchat feature. One day after Facebook gives its report, Intel gets in on the show Thursday. Analysts are looking for the world’s largest chipmaker to report a second-quarter profit of 68 cents a share on $14.41 billion in revenue, which would be an improvement over the 59 cents a share, excluding one-time items, and revenue of $13.5 billion that Intel reported in last year’s second quarter. For Intel, it could be a mixed bag of results. Investors will key in on what Intel says about its PC business, but tech research firm Gartner recently reported that worldwide PC shipments in the second quarter declined again. And reports of lower prices of components used in servers and other data-center equipment could end up having a negative impact on Intel’s data-center offerings, which have been an area of emphasis for the company in recent years. And if Facebook and Intel aren’t enough to keep you busy with corporate earnings, Twitter also reports on Thursday, and all eyes will be on Apple next Monday. Middle Innings: Have a (Board) Seat, Please: Alphabet must really, really like what Google Chief Executive Sundar Pichai is doing. After all, the Google parent company gave Pichai $200 million in compensation last year. That alone would be a show of confidence in Pichai’s work. But, there’s more, because on Monday, Alphabet CEO Larry Page said the company has named Pichai to its board of directors. Taking a Dip: The market for Bay Area home sales got some mixed news Monday, as the California Association of Realtors said pending home sales across the Bay Area declined by 0.6 percent in June. The dip was seen as possibly the result of the real estate market cooling down after a strong spring. More real estate data, including median home-sale prices for June, are slated to come out later this week. Bottom of the Lineup: Serving Up a Union Vote: It looks like the people who work and serve up the reportedly outstanding food in Facebook’s cafeteria are looking for some representation. Specifically, some union representation. More than 500 workers at Facebook’s corporate campus have voted to unionize in an effort to earn better wages and get more-affordable health-care coverage. The employees are joining the UNITE HERE Local 19 union, and are officially employees of Flagship Facility Services, which contracts with Facebook to provide the company with its cafeteria staff. Quote of the Day: ““From everyone at Niantic, we apologize to all of the Trainers who came out to Pokémon Go Fest today.” Pokemon Go developer Niantic, in a statement in which the company apologized for a series of bugs and problems that threw a monkey wrench into a big Pokemon Go event in Chicago over the weekend. Sign up for the 60-Second Business Break newsletter at http://ift.tt/zff6tj. Read More Biz Break: Facebook, Intel line up for earnings this week : http://ift.tt/2tFbiRZ
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January 2020
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