Earning Season – Honeywell Intl., American Express Co. and Verizon Com.

Honeywell – Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions

Funda​mental

Honeywell (NYSE: HON) is scheduled to announce Q2 results at 11:00 AM GMT today. The consensus EPS estimate is $1.24 and the consensus revenue estimate is $7.28 billion (-21.2% year-on-year).

Honeywell, a Fortune 100 technology company that has extensive experience in designing and building high-end technologies that help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make the world smarter, safer and more sustainable. Moreover, the company has delivered more than 500,000 high-performance inertial sensors to serve as navigation aids on an extensive list of manned and unmanned vehicles, which include many air and spacecraft in use today to help companies solve ecological and logistical problems.

Technical

• Price is above the 61.8% Fibonacci on the $182.21 to $101.17 range
• Price also holding above the 50-day simple moving average, testing the resistance line

American Express – Provides charge and credit payment card products, and travel-related services worldwide

Fundamental

American Express (NYSE: AXP) is scheduled to announce Q2 results at 11:00 AM GMT today. The consensus EPS estimate is $0.02 vs. $2.07 in second-quarter 2019 and the consensus revenue estimate is $8.25 billion (-23.8% year-on-year).

The pandemic period has proven to be very challenging for the financial services industry especially with Amex’s heavy exposure to travel and leisure merchants (30% of billed businesses in 2019). On a positive note, the company’s business model is much better diversified than it’s comparable peers, both geographically and in terms of revenue sources.

Technical

• Price is above the 38.2% Fibonacci on the $138.04 to $67.23 range
• Price is on the 50-day simple moving average, holding the support line

Verizon – Offers communications, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide

Fundamental

Verizon (NYSE: VZ) is scheduled to announce Q2 results at 11:30 AM GMT today. The consensus EPS estimate is $1.15 (-6.5% year-on-year) and the consensus revenue estimate is $29.98 billion (-6.6% year-on-year).

Many industrial enterprises are today seeking ways to use edge computing to accelerate access to near real-time, actionable insights into operations to improve productivity and reduce costs. To address this need, the giant telecom company has announced a collaboration to work with IBM on 5G and edge computing innovations to become the industry-leading 5G/LTE Network, ThingSpace IoT platform. Furthermore, Verizon has also teamed up with Microsoft to enable the simple and quick creation and deployment of complete end-to-end IoT solutions.

Technical

• Price holding above the 50-day simple moving average
• Price above the 50% Fibonacci on the $62.22to $48.91 range

Disclaimer

The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM.COM. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.