The chief executives of Boeing Co., Facebook Inc. and Tesla Inc. are all being targeted by government agencies amid difficulties, and their top executives are about to hand the microphone down the line to one another to talk about it.
And that’s just Wednesday.
About 30% of S&P 500 /zigman2/quotes/210599714/realtime SPX +0.47% index components are projected to announce earnings this week, a rush of hundreds of reports that reveal results from the calendar first quarter. After the big returns of the holiday season, first-quarter earnings reports can be sleepy, but not for companies already dealing with a white-hot spotlight.
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Boeing /zigman2/quotes/208579720/composite BA -0.17% is about to draw down production of the 737 Max as two deadly crashes are investigated, and executives should take time to discuss how that will affect the huge aerospace business Wednesday morning. Other questions will be answered when two airlines that have had to cancel hundreds of flights scheduled to fly on the planes, Southwest Airlines Co. /zigman2/quotes/201071949/composite LUV -0.85% and American Airlines Group Inc. /zigman2/quotes/209207041/composite AAL -1.05% , report.
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After Wall Street digests the Boeing report, Mark Zuckerberg will take the stage Wednesday afternoon with yet more fires burning around Facebook /zigman2/quotes/205064656/composite FB -0.14% . As the FTC reportedly considers a record fine and governments world-wide look at legislation that would attack Facebook’s business model, Facebook is dealing with near-daily controversies - just last week, it disclosed sloppy handling of millions of Instagram users’ passwords, as an update to an earlier disclosure of improper password storage.
By the time Zuckerberg finishes answering analysts’ questions, the newest episode of “As Elon Musk Tweets” should be in full swing. Tesla /zigman2/quotes/203558040/composite TSLA +6.88% already disclosed that deliveries fell by nearly 50% sequentially, then tossed a board makeover into the mix late on Good Friday. Musk’s fight with the Securities and Exchange Commission could be a reason for those changes, and Musk also appears to be publicly squabbling with a major partner and supplier.
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Wednesday will be busy, but it may not even stand out in this blistering week. Boeing and Tesla shares have already taken a hit, and Facebook continues to produce big growth even amid its troubles. Other companies face tougher financial tests as they lap big growth a year ago that could lead to an earnings recession.
What to watch for:
Intel Corp.’s /zigman2/quotes/203649727/composite INTC +1.47% Thursday afternoon report will be the first since Chief Executive Bob Swan was permanently appointed to the top role, and the call will give investors a sense of his priorities. Swan already gave a glimpse at these last week, when Intel announced that it would be exiting the 5G-smartphone business, on the same day that Apple Inc. /zigman2/quotes/202934861/composite AAPL +1.45% and Qualcomm Inc. /zigman2/quotes/206679220/composite QCOM +2.87% agreed to settle long-running patent litigation. Analysts are split on whether Intel’s decision was smart and may grill management on the financial impacts of the exit.
Two social-media companies with user-growth issues hoping to capitalize on Facebook’s foibles will bookend Tuesday’s slate, with Twitter Inc. /zigman2/quotes/203180645/composite TWTR +1.87% in the morning and Snap Inc. /zigman2/quotes/205087158/composite SNAP +0.17% after the bell.